Get ready for a big shakeup in the crypto market! August is set to see a massive influx of tokens, totaling over $900 million, hitting the market.
Who’s Getting the Most?
Some of the biggest players in the unlock game include:
- dYdX: This decentralized exchange is releasing a big chunk of tokens.
- Sui: This layer-one blockchain is also getting in on the action.
- Arbitrum: This Ethereum layer-2 is seeing some serious unlocks.
Wormhole: Early Release
The biggest unlock in the next week comes from Wormhole, a cross-chain interoperability protocol. They’re releasing $154 million worth of tokens, representing a whopping 33% of their total supply!
Potential Price Impacts
Analytics firm IntoTheBlock has raised concerns about some projects, including:
- Worldcoin (WLD):
This “proof-of-person” project has daily unlocks that could impact its price.
- Stargate Finance (STG): This DeFi platform is also seeing significant daily unlocks.
- Mantle (MNT):
This layer-2 blockchain is facing similar potential price dilution risks.
What Does This Mean for Investors?
This massive influx of tokens could lead to price volatility in the crypto market. Investors should be aware of the potential risks and do their own research before making any decisions.
