Bitget Insights: Top 10 Biggest Token Unlocks This Week (July 16th - July 23rd)

"Unlocking tokens" refers to the release of the tokens that were previously locked during the fundraising period. To minimize market pressure and a decline in token prices, projects meticulously plan these releases.

A “token unlock” refers to the release of tokens that were locked during the fundraising period. Projects plan these releases carefully to minimize market pressure and a decline in token prices.

According to Bitget, here are the top 10 biggest token unlocks in the next seven days (July 16th – July 23rd).

Upcoming major #TokenUnlocks this week✨

$ARB: $67.93M unlock amount & 2.87% of circulating supply

$PIXEL 7.05% circulating supply with $10.75M unlock amount

Find out more 👇 pic.twitter.com/xmUAAThSnB

Token Unlocks & Their Implications

Arbitrum (ARB) is currently one of the most used Layer-2 solutions for Ethereum, with the mainnet officially launching in August 2021. On Wednesday, July 16th, Arbitrum will be unlocking roughly $67.93 million in ARB tokens, which will be distributed to the team, advisors, and investors. This is the largest unlock of the week, followed by AXS and ApeCoin.

Next, a total of $14.07 million in Axie Infinity (AXS) will be unlocked on July 16th to distribute staking prizes, which will further encourage player participation. The AXS token is the native token used by Axie Infinity for a range of purposes, including the growth of the platform and governance. Axie Infinity is a popular Play-to-Earn blockchain game with millions of players around the world.

The ApeCoin (APE) is the native token of the Ape ecosystem, which is owned and operated by Yuga Labs and includes the well-known Bored Ape Yacht Club (BAYC) NFT collection. On July 17th, it will unlock an estimated $11.90 million in tokens and distribute them to the treasury, founders, team, and contributors.

Whenever there is a major unlock, the price of APE experiences a reduction. This event will significantly impact the token dynamics, which investors and traders should be aware of.

Following the above three unlocks are the following tokens:

These token unlocks will serve to motivate team members, foster community participation, and propel the expansion of the respective ecosystems.