Mass unfreezing of crypto assets next week
Date: 2024-07-08 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Next week, a significant event is expected in the cryptocurrency world - a massive unfreezing of $1 billion worth of crypto assets. According to CryptoRank and Token Unlocks, this event will affect seven large cryptocurrency projects, which could significantly affect the market and investor interest.
WhiteBIT Coin (WBT)
One of the most significant unlocks will be the release of WhiteBIT Coin (WBT) tokens, scheduled for July 13th. On this day, 39.49 million tokens worth $366.75 million will be unfrozen, which is 27.4% of the total capitalization of the project. WhiteBIT, being a centralized crypto exchange, may experience changes in the price and liquidity of tokens after such a significant release.
Cheelee (CHEEL)
Cheelee (CHEEL) tokens will be unlocked on July 10th. 11.66 million tokens worth $228.27 million will go into circulation, which is 20.6% of the total capitalization. Cheelee has positioned itself as a blockchain-based video content platform, and this unfreeze could bring attention to the platform's capabilities and growth.
Aptos (APT) and Immutable (IMX)
Aptos (APT) and Immutable (IMX) tokens are scheduled to be unlocked on July 12th. 11.33 million APT worth $65.76 million and 32.47 million IMX worth $42.55 million will be put into circulation. Aptos is a high-performance layer 1 blockchain, and Immutable specializes in NFT trading. These unlocks may encourage further development and use of these platforms.
Ethereum Name Service (ENS)
Ethereum Name Service (ENS) tokens will be unlocked on July 8th. 1.46 million ENS worth $35.52 million will go into circulation, which is 4.58% of the market capitalization. ENS offers a decentralized domain name service based on Ethereum, and this development may cause increased interest in this technology.
Internet Computer (ICP)
On July 11, 2.37 million Internet Computer (ICP) tokens worth $16.98 million will be unfrozen. Internet Computer is a blockchain platform for creating decentralized applications, and unlocking may help increase interest in its capabilities and projects.
Aethir (ATH)
131.23 million Aethir tokens (ATH) worth $9.2 million will be unlocked on July 12. Aethir offers cloud computing for blockchain-based gaming and metaverse projects. This unfreezing may stimulate interest in the technologies used in these projects.
All of these events can significantly impact the cryptocurrency market, causing price fluctuations and changes in liquidity. Investors and traders will be closely monitoring the situation, assessing the potential and risks associated with these unlockings.
