More than $138 million worth of cryptocurrencies will be offered for trading in July, including Aptos (APT), ApeCoin (APE), Axie Infinity (AXS), and Optimism (OP), which could add to the selling pressure.
Upcoming token opening events for projects are important for traders and investors who closely monitor these events. These unlocks are likely to introduce a large amount of new tokens into the market, which may affect the price of the token due to oversupply.
The $31 million Aptos token will open in less than 12 hours
According to data collected by BeInCrypto from Token Unlocks, over $138 million will be put into circulation in July. The most recent one is the Aptos token (APT) unlock, which is due in less than 12 hours from the time of publication.
Aptos will offer 4.54 million tokens worth more than $31 million for circulation. The token makes up 2.16% of the circulating supply.
The project will unlock 1.33 million tokens for the organization and 3.21 million for the community.
APE Token Unlock: 2.22 million Yuga Labs founder tokens
Then, on July 17, ApeCoin (APE) will issue 15.60 million tokens for circulation. APE tokens, valued at $29.95 million, make up 4.23% of the circulating supply.
Tokens will be unlocked for Yuga Labs, Treasury, launch contributors, charities, and the founder of Yuga Lab.
Axie Infinity Staking $20 million
Axie Infinity has set an AXS token unlock date for July 22, when the project will release 3.43 million tokens as staking rewards. The tokens, which are worth around $20 million at press time, will make up 2.96% of the circulating supply.
Finally, on July 30, the Optimism Program (OP) will open 24.16 million tokens to initial contributors and investors. Tokens contribute 3.75% to the circulating supply, and at the current price they are worth about $29 million.
Read our ultimate guide about the Aptos cryptocurrency (APT) and its network here.
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