There are nine projects that will unlock tokens worth over $186 million this week.
On July 14, BICO will make the second-largest distribution.
The crypto market has experienced significant growth over the years. A lot of newly launched cryptocurrencies have captured the attention of investors in the crypto market. This week, some well-known tokens set for significant unlocks as the crypto market continues to develop. There are nine projects that will release tokens worth over $186 million this week. These expected to have a greater impact on the crypto market.
On July 10, ICO Drops, an independent ICO token sale database, tweeted that there are nine projects, including Internet Computers (ICP), Optimism (OP), Wilder World (WILD), Moonbeam (GLMR), Aptos (APT), Biconomy (BICO), BitDAO (BIT), Synthetix Network Token (SNX), and Uniswap (UNI), that will unlock the tokens this week.
Token Unlocking is the process of releasing locked tokens. The project team will lock the tokens for several periods of time. During this time, the tokens will not traded or liquidated. Unlocking the tokens allows the locked ones to enter the market.
Major Unlocks of This Week
The biggest release planned for July 15 by BitDAO and will release 187.51 million tokens, nearly 10% of the market cap, worth $80.10 million. On July 14, BICO will make the second largest distribution, with the release of 22.30 million tokens worth $5.10 million.
According to the report, three tokens will unlock on July 11. ICP is the first token to unlocked, which will make available 3.31 million (0.76% of market cap) worth $13.21 million. Following that, OP will unlock 1.27 million tokens (0.20% of the market cap). And this will be worth around $1.51 million. Moreover, on the same day, WILD will unlock 5.4 million tokens (2.0% of the market cap). GLMR will release 14.9 million tokens worth $3.36 million on the same day.
There are also some major unlocks planned for this week. On July 12, Aptos (APT) will release 4.54 million tokens worth $31.58 million. And Uniswap will release the 8.33 million UNI, worth $42.81 million. This will be the second-largest release by the value of tokens on July 16.