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Over $270 million worth of tokens from major crypto projects are set to be unlocked in the next six days. August 2024 saw significant token unlock events, with projects like Aptos and Arbitrum releasing $230M in tokens. According to recent data from TokenUnlocks, the cryptocurrency market is set to see another wave of significant token unlocks during the next six days. Notably, there are large-scale unlocking events worth more than $5 million involving a variety of projects, including SUI, IMX, ZETA, TAIKO, DYDX, and MODE. According to TokenUnlocks, the single large-amount unlocking (more than $5m) in the next 7 days includes SUI IMX ZETA TAIKO DYDX MODE, etc., and the linear large-amount unlocking (more than $1m) in the next 7 days includes SOL WLD DOT NEAR SEI, etc. The total unlocking value… pic.twitter.com/06vcVN5obA — Wu Blockchain (@WuBlockchain) August 31, 2024 Major Token Unlocks to Impact Market Liquidity  These are combined with linear unlocks for tokens like SOL, WLD, DOT, NEAR, and SEI, each worth more than $1 million. The combined value of these impending token unlocks is estimated to approach a whopping $270 million. This wave of token unlocks follows a series of similar occurrences in August 2024, when renowned projects such as Aptos, The Sandbox, and Arbitrum issued around $230 million in tokens. Both investors and analysts closely watched and anticipated these unlock events because of the potential impact on token prices. CNF had highlighted the August unlocking, emphasizing their significance in the larger context of market liquidity and price fluctuations. Other significant projects, such as Starknet Cyber (CYBER), Render (RNDR), ApeCoin (APE), Ethena (ENA), and Oasis Network (ROSE), are still releasing tokens as expected. Each of these ventures introduces a distinct set of variables to the market, with various levels of investor excitement. Looking back on the events…

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Filed under: News - @ September 1, 2024 9:14 am