Token unlocks release previously restricted tokens into the market. These events can impact token prices and liquidity. Let’s explore five significant token unlocks happening next week.
AltLayer (ALT)
- Unlock date: June 25
- Tokens unlocked: 105.21 million ALT
- Current circulating supply: 1.5 billion ALT
AltLayer is a decentralized protocol that boosts blockchain scalability using Restaked Rollups. This technology integrates rollups from multiple sources like OP Stack and Arbitrum Orbit, improving security, decentralization, and interoperability through a restaking mechanism.
On June 25, AltLayer will unlock over 100 million ALT tokens, allocated for treasury, community, and ecosystem development.
Yield Guild Games (YGG)
- Unlock date: June 27
- Tokens unlocked: 16.69 million YGG
- Current circulating supply: 372 million YGG
Yield Guild Games (YGG) is a gaming community with the focus on play-to-earn style. It enables gamers worldwide to earn cryptocurrency rewards by participating in blockchain games. YGG invests in NFT assets. For instance, in-game items and virtual land, which makes them available for guild members to borrow and use.
On June 27, YGG will unlock astounding 16.69 million tokens. These will be distributed among the community, developers, investors, and the treasury, supporting the guild’s growth and ecosystem development.
SingularityNET (AGIX)
- Unlock date: June 28
- Tokens unlocked: 8.57 million AGIX
- Current circulating supply: 1.28 billion AGIX
SingularityNET is a platform for developing and hosting AI applications. Its native token, AGIX, is essential for transactions, governance, and rewarding node operators. The platform supports cross-chain functionality, allowing AGIX to operate on Cardano and Ethereum networks.
On June 28, SingularityNET will distribute 8.57 million AGIX tokens to participants in the AGIX-ADA rewards program. This initiative aims to incentivize community engagement and contributions to the platform’s development.
Optimism (OP)
- Unlock date: June 30
- Tokens unlocked: 31.34 million OP
- Current circulating supply: 1.08 billion OP
Optimism is a Layer-2 scaling solution designed to enhance the Ethereum mainnet by improving transaction speed and reducing costs. The OP token is crucial for governance, allowing holders to vote on proposals that shape the network’s future.
On June 30, Optimism will unlock over 30 million OP tokens, distributing them to investors and core contributors. This unlock could impact liquidity, with some community members warning of potential price drops if large investors sell their tokens.
Ethena (ENA)
- Unlock date: June 30
- Tokens unlocked: 14.89 million ENA
- Current circulating supply: 1.7 billion ENA
Ethena is a synthetic currency protocol built on Ethereum. It provides a cryptocurrency solution independent of traditional banking and offers a dollar-denominated savings instrument called the ‘Internet Bond.’ The ENA token allows holders to vote on governance proposals.
On June 30, Ethena will unlock almost 15 million ENA tokens, dedicated to ecosystem development.
Upcoming Token Unlocks
| Token | Unlock Date | Tokens Unlocked (Million) | Current Circulating Supply (Billion) |
|---|---|---|---|
| AltLayer (ALT) | June 25 | 105.21 | 1.5 |
| Yield Guild Games (YGG) | June 27 | 16.69 | 0.372 |
| SingularityNET (AGIX) | June 28 | 8.57 | 1.28 |
| Optimism (OP) | June 30 | 31.34 | 1.08 |
| Ethena (ENA) | June 30 | 14.89 | 1.7 |
Other notable token unlocks next week include Echelon Prime (PRIME), Acala (ACA), and Tornado Cash (TORN), with a total value exceeding $108 million.
While token unlocks are often seen as bearish events, a well-planned schedule can benefit a project. Keep an eye on these events next week to understand their potential impact on the market.
Disclaimer
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Best practices for crypto investment include research, diversification, investing what you can afford to lose, and avoiding hype-driven investments.
