Crypto market prepares for the release of US$220 million in tokens

Next week, the cryptocurrency market will see approximately $220 million worth of tokens enter circulation as signs of recovery begin to emerge following the recent price drop. This will be the second consecutive period in which token releases have surpassed the $200 million mark, highlighting a critical juncture for several projects.

Among the tokens that will be released are those from projects such as Aptos (APT), The Sandbox (SAND), Arbitrum (ARB), Starknet (STRK), CYBER, Ethena (ENA), Render (RENDER), io.net (IO), Moonbeam (GLMR), Nym (NYM), Euler (EUL) and Forta (FORT). According to data from the Token Unlocks platform, these projects will total US$220 million in new tokens made available on the market.

Highlights of this release include the tokens of Aptos, The Sandbox, and Arbitrum, which together will account for a significant portion of this amount. Aptos, for example, will see a release worth $64 million. Meanwhile, The Sandbox will have $54 million in new tokens. Arbitrum, meanwhile, will add $53 million to its circulation. These impressive amounts reinforce the relevance of these projects in the current crypto landscape.

Token unlocks total $220 million

According to CoinGecko, Aptos’ APT token has surged by over 8% in the past 24 hours, suggesting that investor optimism for the project may be on the rise.

The ARB token saw a more modest 1% increase, driven by the launch of Franklin Templeton Blockchain Funds on its network. This reaffirms its position as one of Ethereum’s leading Layer 2 solutions.

In addition to these, other tokens will also see an increase in circulating supply, such as ENA, RENDER, CYBER, FORT and IO. The Ethena token (ENA) saw a brief boost on Wednesday, following the launch of its stablecoin USDe on the Solana network. This Monday (12), the token is costing US$ 0.32 with a daily increase of 3.6%. In total, Ethena will release tokens equivalent to 0.82% of its current circulating supply.

ApeCoin (APE), in turn, also continues at a steady pace of increasing its circulating supply, with the release of US$9.52 million in new tokens scheduled for next week.

These releases represent a point of attention for the market. This is because the entry of new tokens into circulation can influence price behavior and investor sentiment.