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Top Crypto Projects to Unlock $755 Million in July — TradingView News
In July, cryptocurrency tokens worth $755 million will be unlocked as vesting periods for more than 40 projects come to an end.
Crypto vesting prevents early investors and team members from selling their tokens by locking them. This mechanism helps prevent a price drop during the early stages of a cryptocurrency project.
Vesting data tracker Token Unlocks highlighted that the largest amount of cryptocurrencies to be unlocked in July 2024 belong to AltLayer (ALT), Xai (XAI), Aptos APTUSDArbitrum (ARB), Optimism (OP), Sui (SUI), Immutable (IMX) and Starknet (STRK).
Biggest Token Unlocks in July
Decentralized protocol AltLayer will unlock most tokens in July. On July 25, the project will release 684 million ALT tokens worth approximately $125 million. Tokens are allocated to its team, investors, advisors, protocol development, treasury ecosystem, and community.
The gaming-focused Xai project is set to release the second largest amount, with about $93 million in tokens scheduled to be unlocked on July 9. Like AltLayer, the crypto assets are for its team, investors, and ecosystem. Its reserves are also allocated about $2 million in tokens.
The price of ALT token is currently around $0.18, while XAI is valued at $0.46.