Top 5 Token Unlocks This Week

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. Space ID (ID)

• Unlock date: July 22
• Number of unlocked tokens: 18,490,000 ID
• Current circulating offer: 430 506 132 ID

Space ID is a universal decentralized identity protocol that connects people, assets, and dApps across different blockchains. The platform allows you to use a single domain name to represent your identity across all individual applications and networks. On July 22, the project will unlock over 18 million ID tokens, which will be distributed among the Space ID fund, airdrop participants, and the ecosystem fund.

2. AltLayer (ALT)

• Unlock date: July 25
• Number of unlocked tokens: 684,210,000 ALT
• Current circulating supply: 1,626,041,665 ALT

AltLayer is an open source decentralized protocol for rollups. The project is based on the idea Restored Rollupswhich takes rollups from any stack – such as OP Stack or Arbitrum Orbit – and provides them with increased security, decentralization, compatibility, and fast finality through the use of a restaking mechanism.

On July 25, the project will unlock almost 700 million ALT tokens, which is 42% of the current circulating supply. These tokens are intended for the treasury, investors, team, advisors, community members, and protocol development.

AltLayer accounts for 84.5% of all cliff unlocks this week. Given the relatively small circulating supply compared to the total supply, such a significant token unlock could negatively impact the price of ALT.

3. Yield Guild Games (YGG)

• Unlock date: July 27
• Number of unlocked tokens: 14,080 YGG
• Current circulating supply: 376,255,506 YGG

Yield Guild Games is a gaming community focused on blockchain games with a play-to-earn model. It unites users from all over the world who invest in NFT assets. The platform’s native token, YGG, is used to pay for services within the network. It can also be staked to receive rewards, spent on unlocking exclusive content on the Discord server, or used for voting. The tokens, which will be unfrozen in a few days, will be distributed among the community, developers, investors, and the treasury.

4. SingularityNET (AGIX)

• Unlock date: July 28
• Number of unlocked tokens: 8,450,000 AGIX
• Current circulating supply: 639,534,395 AGIX

SingularityNET is a decentralized blockchain platform for building applications based on artificial intelligence (AI). The project’s native token AGIX is used to pay for services, and node operators receive a portion of the fees as compensation for their contribution to maintaining and developing the network. Coins unlocked on July 28 will be distributed among participants in the AGIX-ADA rewards program.

5. Ethena (ENA)

• Unlock date: July 28
• Number of unlocked tokens: 14,890,000 ENA
• Current circulating supply: 1,710,937,500 ENA

ENA is the native token of the DeFi protocol Ethena, the issuer of the USDe “synthetic dollar”. The asset is used to manage ecosystem capabilities, as well as an incentive mechanism for participation and investment in the protocol.

ENA’s debut was accompanied by an airdrop from Ethena Labs, which resulted in $450 million in tokens being given to the community. On July 28, the project will unlock almost a million ENA, which will be used to develop the ecosystem.

Stay up to date! Subscribe to World Stock Market on Telegram.