Pre-Sale Investors Set to Dump Nearly $1B in Unlocked Tokens on Crypto Markets: Report

Citing data from TokenUnlocks, blockchain reporter Colin Wu reports that over $900 million in unlocks are ready to be released next month.

Nearly a billion dollars’ worth of crypto tokens are set to hit the market in August, with some projects facing potential price pressures due to large token unlocks relative to their market capitalization, according to recent reports.

Citing data from TokenUnlocks, Colin Wu, a blockchain reporter, reports that over $900 million in token unlocks are ready to be released next month. Some of the largest unlocks include those from decentralized exchange (DEX) dYdX, layer-one blockchain Sui and Ethereum (ETH) layer-2 Arbitrum (ARB).

The largest token unlock in the next seven days is from cross-chain interoperability protocol Wormhole, which will release $154 million in W tokens, representing 33% of the total supply.

Analytics firm IntoTheBlock recently reported that projects like Sam Altman’s “proof-of-person” project Worldcoin (WLD), decentralized finance (DeFi) platform Stargate Finance (STG) and layer-2 blockchain Mantle (MNT) have daily token unlocks that are relatively large percentages of their market cap, according to the firm’s data.

The firm suggests that the price performance of WLD, STG and MNT might be affected by the large amount of fresh tokens issued daily.

“This chart shows daily linear unlocks for top assets

$24.9M worth of BTC is unlocked daily, though it has minimal market cap impact.

Stargate, Worldcoin, and Mantle have significant unlocks relative to market cap, posing potential market cap dilution risks.”

Source: IntoTheBlock

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