The digital currency world is about to witness a massive token release, and it’s making waves. Three major players – Avalanche (AVAX), Lido (LIDO), and Yield Guild Games (YGG) – are gearing up to unlock tokens worth a staggering $120 million this week. And here’s the kicker: AVAX alone is dropping a cool $100 million. Talk about making it rain!
Let’s dive into the deets, shall we? Yield Guild Games, the blockchain gaming DAO, is leading the pack in percentage increase. They’re set to release 12.22 million YGG tokens on August 27. That’s a 6.6% bump in their circulating supply, valued at $2.87 million. And where is the lion’s share headed? A chunky $1.73 million is earmarked for the founders and investors. The project’s treasury is set to pocket $457,000, while the community gets a slice of the pie with $684,000. And if you’re wondering about the aftermath of such a massive release, here’s a fun fact: post their July unlock of 13 million YGG, the token’s price skyrocketed over 300% before returning a nosedive to its original position. Rollercoaster much?
Now, let’s talk Avalanche. This Layer 1 blockchain isn’t just making ripples; it’s causing a full-blown tidal wave. On August 26, they’re set to release 9.54 million AVAX tokens. Please do the math, and that’s 2.77% of its circulating supply, with a jaw-dropping value of $102.1 million. The distribution plan? The team gets a hefty $48 million, strategic partners pocket $24 million, the Avalanche Foundation receives $17.8 million, and a cool $12 million is set aside for airdrops. And if history is any indicator, the last time Avalanche did a similar unlock, the AVAX token took a 20% hit. So, traders, keep those eyes peeled!
We have the Ethereum liquid staking solution, Lido. They’re rounding off this week’s significant unlocks with a release of 8.5 million LDO tokens on August 25. And here’s the twist: every token is headed straight to the investors. This marks Lido’s final cliff unlock. Talk about going out with a bang!
Against these significant unlocks, tokens like Polkadot’s Acala, 1inch Network’s 1INCH, and Pendle’s token are also gearing up for more minor releases. The crypto world is buzzing; we’re here for all the drama!
