The crypto market could see intense volatility in the next seven days as over $206 million worth of tokens will be unlocked next week.
Next week's unlocks will see $206 million worth of new tokens added to circulation. Wormhole and IMX will see the highest share of unlocks, with a combined $180 million worth of new tokens entering circulation. August to experience a total of over $900 million in token unlocks. Meanwhile, August will witness over $900 million worth of tokens entering circulation per Token Unlocks data.
The release, scheduled for today, accounts for 33% of its circulating supply. Investors have shown concerns about the unlock event, speculating that it may result in a heavy price drop for the token, which is up 2% in the past 24 hours. Immutable will see the second-highest unlocks, with 32 million tokens worth over $40 million entering circulation. This accounts for 2.11% of its circulating supply. XAI, ENA, MODE, HFT, MAVIA, and DYDX will unlock tokens worth $9.5 million, $5.4 million, $3.
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