According to the latest figures, approximately $1 billion worth of token unlocks are set to hit the cryptocurrency markets in August.
Citing data from TokenUnlocks, blockchain reporter Colin Wu reported that more than $900 million worth of unlocks are poised to be completed next month.
Some of the largest unlocks include decentralized exchange (DEX) dYdX, layer 1 blockchain Sui, and Ethereum (ETH) layer 2 Arbitrum (ARB).
The largest token unlock over the next seven days will be on the cross-chain interoperability protocol Wormhole, which will release $154 million worth of W tokens, representing 33% of the supply.
Analytics firm IntoTheBlock recently reported that projects such as Sam Altman’s “proof-of-privacy” project Worldcoin (WLD), decentralized finance (DeFi) platform Stargate Finance (STG), and second-layer blockchain Mantle (MNT) have implemented daily token unlocks that account for a relatively large percentage of their market cap.
The company stated that the price performance of WLD, STG, and MNT may deteriorate due to the amount of new tokens issued each day.
“This chart shows the daily linear unlocks for the top assets.
$24.9 million worth of BTC is unlocked every day, but the impact on market cap is minimal.
Stargate, Worldcoin, and Mantle have significant unlocks relative to their market cap, posing a potential risk of market cap dilution.”
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