Nearly a billion dollars in token unlocks are set to hit crypto markets in August, according to the latest numbers.
Citing data from TokenUnlocks, blockchain reporter Colin Wu reports that over $900 million in unlocks are ready to be released next month.
Some of the largest unlocks include those from decentralized exchange (DEX) dYdX, layer-one blockchain Sui, and Ethereum (ETH) layer-2 Arbitrum (ARB).
The largest token unlock in the next seven days is from the cross-chain interoperability protocol Wormhole, which will release $154 million in W tokens representing 33% of the supply.
Analytics firm IntoTheBlock recently reported that projects like Sam Altman’s “proof-of-person” project Worldcoin (WLD), decentralized finance (DeFi) platform Stargate Finance (STG) and layer-2 blockchain Mantle (MNT) have daily token unlocks that represent relatively large percentages of their market cap, according to the firm’s data.
The firm noted that the price performance of WLD, STG and MNT may suffer due to the amount of fresh tokens issued daily.
“This chart shows daily linear unlocks for top assets
$24.9M worth of BTC is unlocked daily, though it has minimal market cap impact.
Stargate, Worldcoin, and Mantle have significant unlocks relative to market cap, posing potential market cap dilution risks.”
Source: IntoTheBlock Generated Image: Midjourney