Stay Informed About Upcoming Token Unlocks in the Crypto Space 🚀
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices. However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. Here are four major token unlocks to watch next week in the cryptocurrency space:
ApeCoin (APE) 🦍
- Unlock date: June 17
- Number of tokens unlocked: 15.6 million APE
- Current circulating supply: 627.8 million APE
ApeCoin is the native token of Yuga Labs’ Ape ecosystem, which includes the popular Bored Ape Yacht Club (BAYC) NFT collection. On June 17, the project will unlock over 15 million coins and distribute them among the treasury, founders, team, and contributors.
Typically, APE experiences a price drop following large unlocks. However, the decline may be less significant due to the renewed interest in non-fungible tokens in general and BAYC in particular.
Manta (MANTA) 🦈
- Unlock date: June 18
- Number of tokens unlocked: 6.67 million MANTA
- Current circulating supply: 325.3 million MANTA
Manta Network is a modular blockchain that leverages privacy for DeFi applications using zk-SNARK technology to enable private transactions and interactions. It includes two networks:
- Manta Pacific is a modular L2 ecosystem for EVM-native ZK applications and dApps.
- Manta Atlantic is the fastest L1 blockchain on Polkadot that provides programmable ZK identities.
On June 18, the circulating supply of MANTA will increase by 6.67 million tokens, allocated to public sale participants.
Pixels (PIXEL) 🎮
- Unlock date: June 19
- Number of tokens unlocked: 54.38 million PIXEL
- Current circulating supply: 771 million PIXEL
Pixels is a multiplayer game on the Ronin blockchain, utilizing the PIXEL token as its in-game currency and for community governance. Holders of PIXEL can mint NFTs, purchase items, join guilds, and vote on project developments.
On June 19, 54 million PIXEL tokens will be released into circulation and distributed among advisors, the project’s treasury, and ecosystem rewards.
Space ID (ID) 🚀
- Unlock date: June 22
- Number of tokens unlocked: 78.5 million ID
- Current circulating supply: 430 million ID
Space ID is a universal decentralized identity protocol that connects people, assets, and dApps across various blockchains. It allows users to use a single domain name to represent their identity across different applications and networks.
On June 22, the project will unlock over 78 million ID tokens, allocated between the Space ID Foundation and several sale round participants.
Other Noteworthy Unlocks Next Week 📈
- Nym (NYM)
- Kadena (KDA)
- Euler (EUL)
- Pendle (PENDLE)
With a total value exceeding $170 million, these token unlocks can impact the overall crypto market. While some may view token unlocks as bearish, a well-planned schedule can strengthen long-term project viability, motivate team members, boost community engagement, and promote ecosystem growth.
Hot Take: Planning Your Token Unlocks Strategically 🔥
Token unlocks in the cryptocurrency space demand strategic planning and careful execution. As you stay informed about upcoming releases, remember that a thoughtful approach to token distribution can positively impact project sustainability, team morale, and community involvement. Keep an eye on the market reaction to these unlocks and consider the broader implications for the crypto industry as a whole. Embrace the potential for growth and innovation as you navigate the ever-evolving landscape of token unlocks in the digital asset ecosystem.
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