The final week of June brings a wave of new tokens to the market. Overall, assets worth $84.64 million will be unlocked. Three major projects, BLAST (BLAST), Venom (Venom), and Prots Protocol (ACX), release most of the previously locked tokens into the circulation.
Token unlocking is known to be fuelled by market volatility. Therefore, new supply inflows can lead to significant price fluctuations.
1. Blast (Blast)
Unlocked: June 26th
Number of tokens unlocked: 10.5 billion explosions (10.5% of total supply)
Current circulation supply: 30 billion explosions
Total supply: 100 billion explosions
BLAST is an Ethereum-based Layer 2 (L2) solution that provides automatic ETH and Stablecoin Heald generation. Integrate Stablecoins’ Ethereum Staking and T-Bill yields to share gas revenue with decentralized application (DAPP) developers, enhancing yield opportunities.
On June 26th, the network unlocks 10.5 billion tokens worth $22.6 million. This massive release represents 34.94% of Blast’s current circular supply.
Unlocked tokens are distributed to core contributors and investors. Core contributors will receive 6.37 billion BLAST tokens, accounting for 21.2% of market capitalization. Additionally, the 4.13 billion tokens will be sent to investors, representing 13.7% of its current market capitalization.
As unlocking approaches, Blast’s market performance is overwhelming. Over the past week, its value has dropped by 15.3%.
2. Poison (poison)
Unlocked: June 25th
Number of tokens unlocked: 59.26 million poisons (0.74% of total supply)
Current circulation supply: 2 billion poisons
Total supply: 8 billion poison
Venom is a blockchain built on top of threaded virtual machines (TVMs). It aims to enable the development of Web3 applications and next-generation digital infrastructure.
Additionally, blockchain utilizes dynamic shard and mesh network technology to improve efficiency and scalability. On June 25th, the project will release 59.26 million Venom tokens worth $9.9 million.
The project allocates the majority of unlocked tokens (17.92 million) to ecosystem development. Early supporters receive 15 million tokens, while the community wins 15.8 million tokens. Additionally, the team will receive 10.5 million tokens.
Meanwhile, Venom has increased by 0.1% over the past week. However, unlocking the token allows you to test these small benefits.
3. Beyond the protocol (ACX)
Unlocked: June 30th
Number of tokens unlocked: 100 million ACX (10% of total supply)
Current circulation supply: 441.7 million ACX
Total supply: 1 billion ACX
ARIDE is an interoperability protocol that uses intent to provide fast, low-cost cross-chain transfers without security trade-offs. It aims to resolve rollup and L2 fragmentation through an intention-based architecture.
On the last day of this month, the network will release 100 million ACX tokens. The strategic partnership and fundraising receives an entire unlocked supply worth $14 million. The token represents 22.6% of the current market capitalization.
Meanwhile, ACX tokens fell 19.4% last week, reflecting the bearish market sentiment surrounding it.
Other well-known tokens can unlock investors this week (soon) that they can include Altlayer (Alt), Undeads Games (UDS). These unlocks could test the resilience of the market, particularly in volatile macro conditions. Potential short-term headwinds could emerge. In particular, it may appear in tokens with high unlocking rates such as Blast and ACX.
Disclaimer
In compliance with Trust Project guidelines, Beincrypto is committed to reporting without bias and transparent. This news article is intended to provide accurate and timely information. However, we recommend that readers independently verify the facts and consult with experts before making decisions based on this content. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
