We tell you which tokens will be unlocked this week and how major unlocks can affect the market dynamics.
Unlock (English: unlock) is called the unlocking of tokens that were previously frozen under the terms of investment rounds or other funding programs.
Usually, the team carefully works out the tokenomics so as not to cause a lot of pressure from sellers at various stages of the unlock and thus not to collapse the price of the token. However, some factors, such as a lack of liquidity or profit-taking by early investors immediately after the unlocking of tokens, can seriously affect the asset’s quotes.
1. Xai (XAI)
- Unlock date: July 9
- Number of unlocked tokens: 198,400,000 XAI
- Current circulating supply: 277,118,150 XAI
Xai is the first layer-3 gaming blockchain of its kind. Using Arbitrum technology, Xai focuses on simplicity and ease of use, removing the complexity of wallet management and making blockchain integration a seamless part of the gaming ecosystem.
On July 9, the project will unlock almost 200 million XAI tokens, which is more than 70% of the current circulating application. Crypto community members are actively discussing the impact of such a large unlock on the price of the altcoin.
2. ImmutableX (IMX)
- Unlock date: July 12
- Number of unlocked tokens: 32,470,000 IMX
- Current circulating supply: IMX 1,507,875,589
Immutable X is a second-layer (L2) solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million in just an hour as part of the IMX token sale on the CoinList platform, then closed an investment round of $60 million, and in March 2022, it received another $200 million from ParaFi Capital, Declaration Partners, Tencent Holdings, and other companies.
On July 12, the circulating supply of IMX will increase by 32.5 million. Unlocked tokens will be used to develop the Immutable project and ecosystem.
3. Aptos (APT)
- Unlock date: July 12
- Number of unlocked tokens: 11,310,000 APT
- Current circulating supply: 453,954,859 APT
While the Aptos layer-one blockchain is certainly one of the hottest projects of 2023, it has been regularly criticized by the crypto community for its tokenomics, which is largely dominated by venture capital. The majority of APT’s supply is still locked. Unlocks will occur every month for the next ten years. The tokens released on July 12 will be distributed among the Aptos Foundation, community members, and investors.
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Source: Cryptocurrency
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