Crypto Token Unlocks This Week

Posted on by

Optimism (OP) 

  • Number of tokens unlocked: 10 million OP 
  • Current circulating supply: 1.12 billion OP 

A Layer-2 scaling technique called optimism aims to reduce expenses and speed up transactions on the Ethereum mainnet. The OP token is crucial for governance, allowing holders to vote on proposals that shape the network’s future. 

On July 15, Optimism will release 10 million OP tokens. The investors, advisers, and team will all receive these tokens. This initiative rewards projects that positively impact the ecosystem, incentivizing developers to contribute to public goods, knowing their efforts might be rewarded later. 

Starknet (STRK) 

  • Number of tokens unlocked: 64 million STARK 
  • Current circulating supply: 1.3 billion STARK 

Starknet is working on an Ethereum-based ZK-Rollup Layer-2 solution for scalability of decentralized apps. The STRK token is essential for decentralizing the network. 

On July 15, Starknet will unlock 64 million STRK tokens. These tokens will be distributed to investors and early contributors, increasing the circulating supply significantly. 

Arbitrum (ARB) 

  • Number of tokens unlocked: 92.6 million ARB 
  • Current circulating supply: 2.9 billion ARB 

Arbitrum, developed by Offchain Labs, is a popular Layer-2 solution for Ethereum. The mainnet launched in August 2021 with funding from various venture capital firms and entrepreneurs. 

Next week, Arbitrum will unlock over 90 million ARB tokens, valued at approximately $92.59 million. The investors, advisers, and team will all receive these tokens. 

Axie Infinity (AXS) 

  • Number of tokens unlocked: 2.45 million AXS 
  • Current circulating supply: 147.8 million AXS 

Developed by Sky Mavis, Axie Infinity is a well-known Play-to-Earn blockchain game. Players collect, breed, and battle creatures called “axies.” The game’s popularity stems from its engaging gameplay and the potential for earning rewards. 

The AXS token is used for various purposes, including platform development and governance.  To further encourage player participation, 2.45 million AXS will be unlocked on July 16 and distributed as staking prizes. 

ApeCoin (APE) 

  • Number of tokens unlocked: 15.6 million APE 
  • Current circulating supply: 674.6 million APE 

ApeCoin is the native token of Yuga Labs’ Ape ecosystem, including the Bored Ape Yacht Club (BAYC) NFT collection. On July 17, over 15 million APE tokens will be unlocked and distributed among the treasury, founders, team, and contributors. 

APE usually sees a price decline after significant unlocks. Investors and traders should watch this event closely as it could significantly impact the token’s dynamics. 

Other Notable Unlocks 

Next week, several other tokens, including CYBER, RNDR, and MANTA, will also experience unlocks, with a total value exceeding $170 million. 

Summary of Token Unlocks 

Token 

Unlock Date 

Number of Tokens Unlocked 

Current Circulating Supply 

OP 

July 15 

10 million 

1.12 billion 

STRK 

July 15 

64 million 

1.3 billion 

ARB 

July 16 

92.6 million 

2.9 billion 

AXS 

July 16 

2.45 million 

147.8 million 

APE 

July 17 

15.6 million 

674.6 million 

Although many view token unlocks negatively, a well-thought-out timeline might support a project’s long-term success. Unlocks, when in line with development progress and milestones, have the potential to inspire team members, increase community involvement, and foster ecosystem growth.