July is set to witness a significant surge in altcoin supply emission, with over $3.5 billion worth of tokens scheduled for unlocking.
This wave of unlocks is likely to impact the market, which has already shown difficulty in absorbing such substantial supply emissions.
According to Token Unlocks, the largest token unlock this month will be $WLD, with a staggering $600 million worth of tokens being released. This accounts for 53.36% of its current circulating supply, making it the most substantial individual token unlock in July.
$SOL is also seeing a notable unlock, with approximately $400 million worth of tokens being released. This represents 0.5% of its current circulating supply. Additionally, $XAI will unlock $70 million worth of tokens, which is a significant 71.59% of its circulating supply.
$3.5B+ Token Unlocks in July đŽ
Altcoin supply emission continues with more than $3.5B+ forecasted to be unlocked for the rest of July.@Token_unlocks outlines that there will be $3.5B+Â in total getting unlocked in July. pic.twitter.com/YwjPrXtMGk
— Karon (@pangestu_karon) July 11, 2024
Some Other Tokens’ Scheduled For Token Unlock IncludesÂ
Other tokens scheduled for unlocking include ALT, APT, ARB, AVAX, IMX, and STRK. The cumulative effect of these unlocks is expected to add considerable supply pressure on the market. Historically, such large emissions have challenged the market’s ability to absorb the new supply, often leading to increased volatility and downward price pressure.
As the month progresses, the market’s response to these unlocks will be closely watched. Investors and traders will need to navigate the potential impacts on liquidity and pricing, with some tokens potentially facing more significant challenges than others due to the relative size of their unlocks compared to their circulating supply.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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