Tokens Worth $650M to Be Unlocked This Week
According to data from the Tokenomist platform, the cryptocurrency market is set to see an influx of new tokens this week — from August 11 to 18, crypto assets worth nearly $653 million are scheduled to be unlocked.
These will include both large one-time unlocks and daily token releases. Regardless, they are raising concerns about short-term volatility in an already fragile altcoin market.
This week, 20 million FTN worth $91.8 million will be released, accounting for 2.13% of the total circulating supply. The Aptos blockchain team plans to unlock 11.31 million tokens worth $53.72 million, or 2.25% of the total supply.
Arbitrum will release 92.65 million tokens worth $43.91 million, while Avalanche will add another 1.67 million assets worth $40.15 million to the market. The SEI project will unlock 55.56 million tokens worth $18.13 million. Two smaller projects, LAYEY and CYBER, will open access to an additional 10% of their circulating supply, creating selling pressure.
The largest unlock will come from the Solana team, which will add 465,770 tokens worth $93.18 million to circulation. This represents 0.09% of the total SOL supply.
Other notable events include regular weekly unlocks of TRUMP, WLD, DOGE, and TAO tokens.
See also: "Bitcoin Price Today: Falls to $118.6K Amid Caution Ahead of CPI Data"
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