ENS and Aptos are part of the major token unlocking projects this week. Approximately $1 billion will be unlocked.
July is set to see a significant token unlocking event, with around $1 billion worth of tokens planned to be unlocked this week. Given the recent volatility in the cryptocurrency market, this week’s event holds greater significance.
Token unlocking initiation
According to the latest data from CryptoRank, this week marks the beginning of a major event in July, with tokens worth around $1 billion being unlocked. The impact of each asset’s unlocking on the total supply varies, highlighting the need for careful analysis.
Earlier this week, AMBCrypto reported that different projects in July will release tokens worth around $3 billion.
Potential impact of token unlocking events
The potential market impact of these unlockings will largely depend on the actions taken by the recipients of these tokens. If many people sell the assets immediately, it could increase market supply and lower prices.
Conversely, if recipients hold onto the tokens, the expected increase in market supply may not materialize. This could stabilize or even raise prices.
Furthermore, given the recent instability, these dynamics make the upcoming events a key point of observation for investors and analysts.
Highlights of some major unlockings
According to recent data, significant unlocking events are planned for this week involving well-known brands such as Aptos and Ethereum Name Service (ENS).
Specifically, Aptos will unlock approximately 11.33 million APT tokens. Additionally, these tokens account for about 2.50% of Aptos’ total market value, amounting to around $66 million.
At the time of writing, Aptos has a market value of about $2.7 billion. Furthermore, the trading price of APT is around $6.
In addition, Ethereum Name Service (ENS) plans to unlock its tokens on July 8th. This event will issue 146 million ENS tokens, accounting for about 4.58% of the total supply.
The value of these tokens is estimated to exceed $35 million.
Furthermore, according to the latest data, the market value of ENS is approximately $798 million. Additionally, its trading price is over $25, with a growth rate of over 2%.