More than 900 million USD Token will be unlocked in August 2024.

As August approaches, important Token Lockup unlock events are expected to impact the market. BeInCrypto has highlighted the top five unlock events that could influence market moves.

According to data from TokenUnlocks, by August 2024, more than 900 million USD worth of Token will be put into circulation. This increase in liquidation can affect various digital assets.

Also Read: Token unlock: How does supply change affect market dynamics?

Token Lockup unlocking events are expected in August 2024

Unlocking Token Lockup is important to the cryptocurrency market because they release coins that were previously unavailable to the public. The large number of Token introduced into the market in August presents both opportunities and challenges for traders and investors.

Avalanche (AVAX)

The biggest unlock event next month is AVAX. On August 20, Avalanche will unlock 9.54 million Token, worth approximately 251.33 million USD. This represents 2.42% of AVAX's total circulating supply. The allocation will be as follows:

• Strategic partner: 2.25 million AVAX (59.27 million USD)
• Fund: 1.67 million AVAX (43.90 million USD)
• Team: 4.5 million AVAX (118.53 million USD)
• Airdrop: 1.13 million AVAX (29.63 million USD)

Wormhole (W)

The second major Token Lockup unlock event will take place on August 3, when Wormhole releases 600 million Token, accounting for 33.33% of the total circulating supply. The team has allocated these coins, worth approximately 151.67 million USD, to the community and for the launch.

This event received mixed reactions from cryptocurrency investors. Some see this as a positive move for liquidation, while others are concerned about the potential impact on the market.

"Nothing is strange. 18% unlocked at TGE. The remaining 82% will be unlocked at an Medium rate of 1.71% of the total monthly supply. And those who say the team is selling, the Token for the main contributors (i.e. the team) are not even unlocked yet,”

user X explains .

Aptos (APT)

Next on the list is Aptos, which will distribute 11.31 million APT on August 12. This unlock event accounts for 2.41% of the total circulating supply, worth approximately 76.45 million USD. The allocation will be as follows:

• Fund: 1.33 million APT (9.01 million USD)
• Community: 3.21 million APT (21.7 million USD)
• Key Contributors: 3.96 million APT (26.76 million USD)
• Investor: 2.81 million APT (18.98 million USD)

The Sandbox (SAND)

The Sandbox performs two Token Lockup per year, in February and August. The second unlock of 2024 is expected on August 14, 2024. The project will unlock 205.59 million SAND Token , representing 9% of the total circulating supply.

According to the current market price, these Token are worth 66.75 million USD. The allocation will be as follows:

• Team: 71.25 million SAND (23.13 million USD)
• Advisor: 37.50 million SAND (12.18 million USD)
• Company reserves: 96.84 million SAND (31.44 million USD)

Arbitrum (ARB)

ARB, the native Token of Layer 2 Ethereum Arbitrum, will issue 92.65 million Token worth approximately 65.17 million USD on August 16. This unlock represents 2.77% of the total circulating supply. The release will be Chia as follows:

• Development Team, Future Team + Advisors: 56.13 million ARB (39.48 million USD)
• Investor: 36.52 million ARB (25.69 million USD)

Besides these Token , there are other smaller but significant unlocks, including DYDX (DYDX), Sui (Sui), ZetaChain (ZETA), Galxe (GAL), and several others.

These Token Lockup unlocks contribute to the trend of increased liquidation, creating optimism about potential growth and caution about the impact on the market. For retail investors, it is important to understand the details of each unlock, including the number of coins issued, intended use, and general market conditions at the time of writing.

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