Massive Token Unlocks Coming in August: Will Prices Crash?

• Over $2.3 billion in crypto token unlocks scheduled for August 2024.
• Major projects like SUI, W, APT, SAND, and AVAX have significant unlocks.
• Potential market impact on token prices and overall crypto market sentiment.

Updated data on upcoming token unlocks for August 2024 highlights major projects with scheduled distributions, potentially flooding the market with approximately $2.31 billion worth of tokens. This influx could significantly impact market dynamics and token prices.

On August 1st alone, several tokens are poised for substantial unlocks. Sui (SUI) will release 68.79 million tokens, worth $53.26 million, representing 2.74% of its circulating supply. On the same day, dYdX (DYDX) plans to unlock tokens worth $10.67 million. Helium (HNT) is set to release tokens valued at $226,030.

Other notable unlocks include StepN (GMT), Portal (PORTAL), Akash Network (AKT), ZetaChain (ZETA), Cloud (CLOUD), and Euler (EUL), each expected to add a considerable number of tokens to the market.

A major event follows on August 3rd, when Wormhole (W) plans to release a massive 612.12 million tokens, valued at $179.38 million, accounting for a substanti…

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