In the coming days, multiple cryptocurrency projects will launch tokens with a total value slightly over $940,000. Token unlocking events occur when coins, locked during fundraising or other phases, are released according to a predetermined schedule. These events can impact token markets, especially in conditions of low liquidity or if early investors decide to sell their profits.
Optimism (OP)
Unlocking Date: 30th June
Number of Unlocked Tokens: 31.34 million OP
Total value of all tokens compared to their price on 24th June: $529,640
Optimism is a layer-two scaling solution for Ethereum that increases transaction speed and reduces costs. The OP token plays a central role in governance, allowing holders to vote on network proposals. On 30th June, Optimism will release over 30 million OP tokens for investors and key contributors. This significant unlocking has raised concerns about potential liquidity issues and price declines, with some analysts predicting a 30-70% drop if investors decide to sell their tokens.
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Ethena (ENA)
Unlocking Date: 30th June
Number of Unlocked Tokens: 14.89 million ENA
Total value of all tokens compared to their price on 24th June: $80,700
Ethena is a protocol that provides a solution for local cryptocurrencies independent of traditional banking. It offers a dollar-denominated savings instrument called “Internet Bond.” The ENA token enables holders to vote on governance proposals. On 30th June, Ethena will unlock nearly 15 million tokens for ecosystem development.
SingularityNET (AGIX)
Unlocking Date: 28th June
Number of Unlocked Tokens: 8.57 million AGIX
Total value of all tokens compared to their price on 24th June: $51,260
SingularityNET is a decentralized platform for developing and hosting AI applications. Its token, AGIX, is used for transactions, governance, and rewarding node operators. It supports cross-chain functionality on Cardano and Ethereum. On 28th June, SingularityNET will unlock tokens for participants in the AGIX-ADA rewards program to encourage participation and community development.
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Yield Guild Games (YGG)
Unlocking Date: 27th June
Number of Unlocked Tokens: 16.69 million YGG
Total value of all tokens compared to their price on 24th June: $93,560
Yield Guild Games is a global gaming community where players can earn cryptocurrency rewards by participating in blockchain games. YGG invests in NFT assets like in-game items and virtual land that users can lease. On 27th June, a significant number of YGG tokens will be unlocked for the community, developers, investors, and treasury to support growth and the ecosystem.
AltLayer (ALT)
Unlocking Date: 25th June
Number of Unlocked Tokens: 1.0521 million
Total value of all tokens compared to their price on 24th June: $188,820
AltLayer is a decentralized protocol designed to improve network scalability using Restaked Rollups. It integrates different stacks, such as the OP Stack and Arbitrum Orbit, to enhance security, decentralization, and operational compatibility through the restaking mechanism. On 25th June, over 105.21 million ALT tokens will be unlocked for purposes including the treasury, community, and ecosystem development.
