- Over $110 million in tokens from various projects are scheduled to unlock in July.
- These token unlocks could negatively impact token prices due to increased supply.
- Well-planned token unlocks can incentivize teams and boost community engagement.
The crypto community is bracing for a wave of upcoming token unlocks, with several well-known projects set to release over $110 million worth of tokens into circulation. These events are being closely monitored due to their potential impact on token prices and overall market dynamics.
Galxe (GAL): Galxe will unlock 586,670 tokens ($2.1 million), representing 0.49% of the circulating supply, at 00:00 UTC on July 24.
AltLayer (ALT): By releasing over 684 million ALT tokens on July 25, AltLayer will account for 42% of the total supply currently in circulation. These tokens are intended for the treasury, investors, teams, advisors, community members, and protocol development. With ALT’s total supply far larger than its circulating supply, this significant token unlock could negatively influence the price.
Yield Guild Games (YGG): The Yield Guild Games (YGG) gaming community will release about 14 million of its tokens, representing 3.74% of the circulating supply, at 14:00 UTC on July 27. The distribution of these tokens among the community, investors, founders, and treasury will support the guild’s expansion and development of its ecosystem.
Ethena (ENA) and AGIX: On July 28, both Ethena (ENA) and AGIX will see significant token unlocks. Ethena, a synthetic money protocol based on Ethereum, will unlock approximately 14.89 million tokens ($7.48 million), representing 0.87% of the circulating supply, at 07:00 UTC. These tokens will be allocated for the development of the ecosystem.
Ethena offers a native cryptocurrency solution separate from traditional banking and features the “Internet Bond,” a dollar-denominated savings vehicle available to consumers worldwide. Meanwhile, AGIX is set to unlock 8.45 million tokens ($5.27 million), representing 1.33% of the circulating supply, at 00:00 UTC on July 28. This project aims to encourage and recognize community involvement and contributions to the platform’s growth and development.
While token unlocks are often viewed as potentially bearish due to the increased supply, they can also be strategically timed to align with development progress and milestones. This can incentivize team members, boost community engagement, and ultimately foster the long-term success of a project.
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