In July, a total of $755 million worth of cryptocurrency tokens will be unlocked as the vesting periods for more than 40 projects come to an end.
Vesting is a mechanism that prevents early investors and team members from selling their tokens by locking them down. This helps to prevent a decrease in token price during the early stages of a crypto project.
According to Token Unlocks, a vesting data tracker, AltLayer (ALT), Xai (XAI), Aptos (APT), Arbitrum (ARB), Optimism (OP), Sui (SUI), Immutable (IMX), and Starknet (STRK) will have the largest amount of crypto assets unlocked in July 2024.
The decentralized protocol AltLayer will unlock the largest chunk of tokens in July. On July 25, the project will release 684 million ALT tokens, which are worth approximately $125 million. These tokens are allocated to the team, investors, advisers, protocol development, treasury ecosystem, and community.
The gaming-focused project Xai will release the second-largest amount of tokens, with around $93 million scheduled to unlock on July 9. Similar to AltLayer, these crypto assets are intended for the team, investors, and ecosystem, with $2 million allocated to reserves.
Currently, the token price for ALT is approximately $0.18, while XAI is valued at $0.46.
Aptos, which unlocked $101 million in May and $102 million in June, will release another batch of tokens in July. The project will release 11.31 million APT tokens, worth $77 million. These tokens are allocated to the foundation, community, core contributors, and investors.
In the last three months, the price of APT has dropped from a high of $17.63 on April 1 to $6.99 on June 28, representing a 60% decrease from April to June.
Arbitrum, which released $95 million in May and $105 million in June, is scheduled to release another $75 million in tokens for its team, advisers, and investors on July 16. The project also released 1.1 billion ARB tokens, worth $2.32 billion, on March 16.
Since the large unlock, the price of ARB has dropped by 63%, from a high of $2.27 on March 8 to $0.82 at the time of writing.
Optimism, Sui, Immutable, and Starknet, which unlocked millions worth of their native tokens in the past two months, will also unlock similar amounts in July.