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Top 6 token unlocks of this week

We tell you which tokens will be unlocked this week, and how major unlocks can affect 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.

Typically, the team carefully works out the tokenomics so as not to cause a lot of selling pressure at various stages of the unlock and thereby not bring down the price of the token. However, some factors, for example, a lack of liquidity or profit-taking by early investors immediately after the tokens are unlocked, can seriously affect the asset’s quotes.

Here are 6 important unlocks to watch this week.

1. AltLayer (ALT)

  • Unlock date: June 25
  • Number of tokens unlocked: 105,210,000 ALT
  • Current circulating supply: 1,520,833,332 ALT

AltLayer is an open decentralized protocol for rollups. The project is based on an idea Restaked Rollupswhich takes rollups from any stack – for example, OP Stack or Arbitrum Orbit, and provides them with increased security, decentralization, compatibility and fast completion through the use of a re-staking mechanism.

On June 25, the project will unlock more than 100 million ALT tokens reserved for treasury, community and ecosystem development.

2. Yield Guild Games (YGG)

  • Unlock date: June 27
  • Number of tokens unlocked: 16,690,000 YGG
  • Current circulating offer: 372 290 462 YGG

Yield Guild Games is a gaming community focused on blockchain games with a play-to-earn model. It brings together users from all over the world who invest in NFT assets. The native token of the YGG platform is used to pay for services within the network. It can also be staked to earn rewards, used to unlock 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 treasury.

3. SingularityNET (AGIX)

  • Unlock date: June 28
  • Number of tokens unlocked: 8,570,000 AGIX
  • Current circulating supply: 1,284,776,139 AGIX

SingularityNET is a decentralized blockchain platform for creating applications based on artificial intelligence (AI). The AGIX project’s native token 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. The coins unlocked on June 28 will be distributed among participants in the AGIX-ADA rewards program.

4. Echelon Prime (PRIME)

  • Unlock date: June 30
  • Number of tokens unlocked: 750,000 PRIME
  • Current circulating offer: 41,054,634 PRIME

Echelon Prime is an open, decentralized, community-driven ecosystem for P2E gaming. The native PRIME token is used to reward developers and users, as well as vote for project development and staking. The coins unlocked this week are for the reserve and investors of Parallel Studios.

5. Optimism (OP)

  • Unlock date: June 30
  • Number of tokens unlocked: 31,340,000 OP
  • Current circulating supply: 1,086,889,963 OP

Optimism is a second layer solution designed to increase the speed and scalability of the Ethereum network. According to DefiLlama, it is one of the leaders among L2 networks in terms of the number of running protocols and the volume of blocked funds (TVL). The OP token is used for voting, managing projects in the Optimism Collective community and developing the ecosystem. The coins released during the next unlock will be distributed among investors and key participants in the project.

6. Ethena (ENA)

  • Unlock date: June 30
  • Number of tokens unlocked: 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 “synthetic dollar” USDe. The asset is used to manage ecosystem capabilities and as a mechanism to encourage participation and investment in the protocol.

The debut of ENA was accompanied by an airdrop from Ethena Labs, as a result of which $450 million in tokens were transferred to the community. On June 30, the project will unlock almost a million ENA, which will be used for the development of the ecosystem.

Source: Cryptocurrency

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