4 Unlock Tokens Worth Paying Attention to in August 2024
2024-08-12
Bittime - Mid-August 2024 will be an important period for the crypto market with several large projects implementing token unlocks. Token unlock is the process by which tokens previously locked in a crowdfunding program or other mechanism are finally released and can be traded. With the total value of tokens released reaching more than $230 million, this change has the potential to have a significant impact on price and market dynamics. Here are the four major token unlocks you should keep an eye on next week.
1. Aptos Token Unlock (APT) - August 12, 2024
- Unlock Date: August 12, 2024
- Number of Tokens Released: 11.31 million APT
- Number of Tokens in Current Circulation: 471.14 million APT
Aptos is a Layer-1 blockchain that aims to provide secure and scalable infrastructure for decentralized applications. On August 12, Aptos will release 11.31 million APT, which will be distributed to community members, contributors, and investors. Given the large volume of tokens, this can cause significant APT price fluctuations. Investors need to monitor the impact of this distribution on the market.
2. Token Unlock The Sandbox (SAND) - 15 Agustus 2024
- Unlock Date: August 15, 2024
- Number of Tokens Released: 30 million SAND
- Current Number of Tokens in Circulation: 1.5 billion SAND
The Sandbox is a metaverse platform that allows users to create and monetize virtual experiences. On August 15, 30 million SAND will be released into the market. The launch of this token provides an opportunity for more investors and developers to get involved in The Sandbox ecosystem. The impact of this token unlock will likely be seen in SAND price movements and participation on the platform.
3. Token Unlock Arbitration (ARB) - August 17, 2024
- Unlock Date: August 17, 2024
- Number of Tokens Released: 20 million ARB
- Number of Tokens in Current Circulation: 1 billion ARB
Arbitrum, a Layer-2 scalability solution for Ethereum, will release 20 million ARB on August 17. This token functions to increase transaction capacity and reduce gas fees on the Ethereum network. With the additional supply of ARB to the market, there is the potential for price fluctuations that investors must be aware of. The market reaction to this increase in token supply will be the key to predicting ARB price movements.
4. Token Unlock Immutable X (IMX) - 19 Agustus 2024
- Unlock Date: August 19, 2024
- Number of Tokens Released: 15 million IMX
- Number of Tokens in Current Circulation: 500 million IMX
Immutable X is a platform that offers a no gas fee solution for NFTs on top of Ethereum. On August 19, 15 million IMX will be released into the market. This token unlock aims to expand NFT adoption and attract more users to the platform. Changes in the supply of these tokens can affect IMX prices and NFT market dynamics.
Why is Paying Attention to Token Unlock Important?
Token unlocks serve as important moments in a crypto project's calendar because they involve the release of previously untradeable tokens. Usually, projects plan token unlocks to avoid negative impacts that could lower the token price. However, factors such as liquidity and profit-taking from early investors can significantly influence the price.
As an investor, it is important to monitor these token unlock dates and analyze their potential impact on your portfolio. By understanding the timing and context of token unlocks, you can make better investment decisions and adjust your strategy according to market changes.
How to Buy Crypto with Bittime
You can buy and sell crypto assets easily and safely through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed your identity verification. Also, make sure you have sufficient balance by depositing some funds into your wallet. Just so you know, the minimum asset purchase on Bittime is IDR 10,000. After that, you can make crypto asset purchases in the application.
Monitor the price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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