Major crypto projects to open $755M in July
In July, more than 40 projects will open cryptocurrency tokens valued at $755 million when the landing period ends.
Crypto vesting prevents early investors and team members from selling their tokens by locking them up. This technique helps to prevent price drop in the early stages of a crypto project.
Vesting Data Tracker Token Unlocks highlighted that the largest amount of crypto assets to be unlocked in July 2024 are AltLayer (ALT), Xai (XAI), Aptos (APT), Arbitrum (ARB), Optimism (OP), Sui (SUI). , Immutable (IMX) and Starknet (STRK).
The largest token will be opened in July.
Decentralized protocol AltLayer will launch its largest chunk of tokens in July. On July 25, the project is set to release 684 million ALT tokens, worth about $125 million. The tokens are allocated to the team, investors, advisors, protocol development, treasury ecosystem and community.
Gaming-focused project Xai is set to release its second-largest amount, with around $93 million in tokens scheduled to launch on July 9. Like AltLayer, crypto assets belong to the team, the investors and the ecosystem. About $2 million worth of tokens have also been allocated to the reserves.
ALT token price is currently around $0.18, while XAI is valued at $0.46.
Related: ‘Money-hungry VCs' are bad for long-term token launches – analyst
Projects regularly open tokens
Aptos, which raised $101 million in May and $102 million in June, will release another batch of tokens in July. The project will issue 11.31 million APT tokens worth $77 million in July. These are allocated to her foundation, community, major contributors and investors.
Over the past three months, APT prices have fallen from a high of $17.63 on April 1 to $6.99 on June 28, representing a 60% decline from April to June.
Meanwhile, Arbitrum, which raised $95 million in May and $105 million in June, is scheduled to issue another $75 million in tokens to the team, its advisors and investors on July 16. The project issued 1.1 billion ARB tokens on March 16, worth $2.32 billion. .
Since the grand opening, ARB prices have fallen 63%, from a high of $2.27 on March 8 to $0.82.
Optimistic, Sui, Immutable, and Starknet, which have opened millions of their native tokens in the past two months, will open the same amount in July.
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