TL;DR
- Several major cryptocurrency projects will unlock tokens worth $755 million in July.
- AltLayer leads with the most token unlocks, followed by Xai, Aptos, and Arbitrum.
- Other projects such as Optimism, Forta and Tornado Cash will also make significant unlocks this month.
In July, a major event is expected in the world of cryptocurrencies with the unlocking of tokens worth a total of approximately $755 million.
This event involves several renowned projects, including AltLayer, Xai, Aptos, Arbitrum, Optimism, Forta, and Tornado Cash.
These unlocks seek to address various needs within their respective ecosystems and encourage the growth and development of their platforms.
The leader in these unlocks will be AltLayer, a decentralized protocol that facilitates the launch of native and restake rollups.
AltLayer plans to release 684 million ALT tokens on July 25, worth approximately $125 million.
These tokens will be distributed among the development team, investor rewards, advisory roles, protocol development, treasury functions, and community incentives.
AltLayer, which was introduced in January this year, is now available for trading on Binance, HTX and Biget.
Xai, a blockchain project focused on the gaming sector, will be the second largest token unlocker, with a scheduled release of $93 million in XAI tokens on July 9.
These tokens will be distributed among the team, investors and for the growth and development of the ecosystem, with approximately $2 million reserved for contingencies.
Aptos, known for its contribution to the decentralized finance (DeFi) and non-fungible tokens (NFT) ecosystem, plans to release $11.31 million in APT tokens on an unspecified date in July.
This release follows previous unlocks in June and May, each valued at more than $100 million.
The funds from this unlock will go towards the project foundation, community initiatives, key contributors and investor engagements.
Arbitrum, a scaling solution for Ethereum, will release $75 million in ARB tokens on July 16.
This will be the project’s fifth unlock, having previously released over $2.6 billion in tokens in recent months.
The funds will be used to support Arbitrum’s teams, advisors and investors.
Other Important Unlocks
Other projects like Optimism, Forta, and Tornado Cash also have significant unlocks scheduled in the coming days.
Optimism, with a market capitalization of $1.96 billion, will unlock $56.41 million in OP tokens.
Forta, meanwhile, will release $499.49k in FORT tokens, while Tornado Cash, with a high proportion of tokens already circulating (83.5%), will unlock $255.75k in TORN tokens.
These unlocks are crucial events for the respective projects as they not only free up capital for development and expansion, but also affect market dynamics by increasing the number of tokens in circulation.
Investors and followers of these projects will be attentive to how these unlocks are handled and how they impact the value and stability of the tokens.
Furthermore, the impact of these unlocks will be reflected in the community’s trust and the long-term growth of these projects.
As more tokens enter circulation, it will be critical to look at how each project manages the distribution and utilization of these assets to ensure sustainable growth and continued development.
