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Token Unlocks and Their Impact on Cryptocurrency Prices

Understanding the impact of token unlocks on cryptocurrency prices is crucial for investors and traders. In this article, we will explore the concept of token unlocks, the types of unlocks, and their impact on prices. Additionally, we will take a look at 10 upcoming cryptocurrency projects with significant token unlocks.

What are Token Unlocks?

Token unlocks refer to the release of previously locked or restricted tokens into the market. These tokens become available for trading, buying, and selling after the end of their vesting period. The vesting period is the duration during which the tokens are restricted.

Cliff Unlocks:

Cliff unlocks refer to the release of tokens held in a locked state on a specific date. A certain percentage of the token's total supply is released at a specific date.

Linear Unlocks:

Linear unlocks refer to the release of tokens at a steady fixed rate over a period of time. For instance, a certain percentage of the total token supply can be released per day, week, or month.

Impact of Token Unlocks on Prices:

Token unlocks increase the supply of the particular cryptocurrency, which can lead to a fall in price if the demand remains the same or does not increase proportionally. This is because the recipients of the tokens may choose to sell them, increasing the supply in the market.

Upcoming Projects with Significant Token Unlocks:

Avalanche (AVAX) - A Smart Contract Blockchain with High Transaction Output Avalanche is a layer one blockchain that serves as a platform for decentralized applications and smart contracts. With a transaction output of up to 6,500 transactions per second, it outperforms Ethereum in terms of scalability. AVAX has a fully diluted market cap of $12.5 billion, and 49.81% of tokens are already unlocked. An additional 1.325% of the total supply will be unlocked on May 28th, 2023.

Blur (BLUR) - An Advanced NFT Marketplace and Aggregator Platform Blur is a non-fungible token (NFT) marketplace and aggregator platform that offers advanced features such as real-time price feeds, portfolio management, and multi-marketplace NFT comparisons. Its native governance token, $BLUR, has a fully diluted market cap of $1.89 billion, with 80% of the total supply still locked. The platform will unlock 195,999,999 BLUR tokens (6.5% of total supply), worth $124 million, on June 14th, 2023.

Tornado Cash (TORN) - A Decentralized Privacy Platform Built on Ethereum Tornado Cash is a decentralized, noncustodial privacy platform created on Ethereum. It enables users to deposit and withdraw ERC-20 tokens and ETH with different addresses, enhancing transaction privacy and anonymity. $TORN has a fully diluted market cap of $80,224,042, with 64% of tokens already unlocked. The protocol will unlock 1.8% of its total supply, which is 175,000 $TORN worth $1.4 million, on May 7th, 2023.

LooksRare (LOOKS) - An NFT Marketplace that Rewards Traders, Collectors, and Creators LooksRare is an NFT marketplace that rewards traders, collectors, and creators with LOOKS and other incentives. $LOOKS has a market cap of $106.1 million, with a fully diluted valuation of $130 million. 81.67% of its total supply is already unlocked. The platform will unlock 37,500,000 $LOOKS (3.8% of total supply), valued at $4.8 million, on June 15th, 2023.

Hedera (HBAR) - A Public Distributed Ledger with Native Tokenization and Consensus Services Hedera is a fully open-source public distributed ledger that utilizes the fast, fair, and secure hashgraph consensus. Its network services include Solidity-based smart contracts, as well as native tokenization and consensus services used to build decentralized applications. $HBAR has a market cap of $1.89 billion, with an FDV of $3.03 billion, and 56.89% of tokens already unlocked. On June 1st, 2023, the protocol will unlock 127,353,491 HBAR, worth $77.3 million (2.5% of total supply).

Optimism ($OP): Unlocking 154.6 million tokens worth $335.5 million on May 31st, 2023 Optimism, a layer-two blockchain built on Ethereum, is set to unlock 154.6 million tokens worth $335.5 million on May 31st, 2023. The project aims to scale the Ethereum ecosystem by using optimistic rollups, enabling trustless recording of transactions on Optimism while ultimately securing them on Ethereum.

The Sandbox ($SAND): Unlocking 332.5 million tokens worth $191.1 million on August 14th, 2023 The Sandbox, a virtual Metaverse built on Ethereum, is set to unlock 332.5 million tokens worth $191.1 million on August 14th, 2023. The project allows players to build, own, and monetize their gaming experience in a decentralized manner.

Arbitrum ($ARB): Unlocking 1.1 billion tokens worth $1.5 billion on March 23rd, 2024 Arbitrum, an Ethereum layer-two scaling solution, is set to unlock 1.1 billion tokens worth $1.5 billion on March 23rd, 2024. The project uses optimistic rollups to improve speed, scalability, and cost-efficiency on the Ethereum network.

Apecoin ($APE): Unlocking 15.6 million tokens worth $62.8 million on May 17th, 2023 Apecoin, an ERC-20 governance and utility token used within the APE Ecosystem, is set to unlock 15.6 million tokens worth $62.8 million on May 17th, 2023. The project aims to empower and incentivize a decentralized community building at the forefront of web3.

BitDAO ($BIT): Unlocking 187.5 million tokens worth $93.4 million on May 15th, 2023 BitDAO, one of the world's largest Decentralized Autonomous Organizations, is set to unlock 187.5 million tokens worth $93.4 million on May 15th, 2023. The project's vision is open finance and a decentralized tokenized economy, governed by BIT token holders.

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1/ Bitcoin's BRC-20 token standard is taking the crypto ecosystem by storm, especially with the rise of meme coins like Pepe and Meme. Over 8,500 tokens have been minted using the BRC-20 standard, with a majority being meme coins.

2/ The BRC-20 token standard allows programmers to create and send fungible tokens via the Ordinals protocol on the Bitcoin blockchain. Unlike Ethereum's ERC-20, BRC-20 tokens don't make use of smart contracts and require a Bitcoin wallet to mint and trade.

3/ Since its creation in March 2022, the market cap of BRC-20 tokens has exploded, currently sitting at $120 million, a 600% rise from last week. The number of BRC-20 transactions on the Bitcoin blockchain has also outperformed regular BTC transactions.

4/ However, the rise in BRC-20 transactions has led to a significant surge in transaction fees, generating an additional 286 BTC in fees for miners since late April. The meme coin frenzy has also led to a rise in Ethereum network gas fees and network congestion.

5/ As the popularity of meme coins grows, the rise of Bitcoin's BRC-20 token standard highlights the potential for innovation and experimentation in the crypto space. However, the meme coin frenzy also comes with implications for transaction fees and network congestion.

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As the Bitcoin Cash enthusiasts brace themselves for the much-awaited upgrade that vows to unleash decentralized applications, General Protocols revealed a complete production release of its decentralized hedging application, boasting a doubled contract size. Meanwhile, those utilizing the privacy-boosting protocol Cashfusion have fused over 17.4 million bitcoin cash since its inception, equivalent to a staggering $2 billion in U.S. dollar value.

General Protocols Reveals Latest Defi Application Release

The Bitcoin Cash community eagerly awaits an upgrade that promises to revolutionize the creation of decentralized applications on May 15, 2023. Last November, blockchain developer Jason Dreyzehner shared the news that the 2023 upgrade had been successfully added to the testnet network. Dreyzehner elaborated on the forthcoming improvements, which will introduce Cashtokens capable of generating a plethora of possibilities, from identity tokens and covenant-tracking identity tokens, to voting with fungible tokens, sealed voting, multithreaded covenants, and multi-covenant decentralized applications.

In the interim, BCH enthusiasts have been introduced to the full-fledged production version of BCH Bull. The decentralized finance (defi) application empowers users to long or hedge their BCH against various tradable assets. The project’s developers announced the latest release on April 17, 2023, and disclosed several new enhancements, adding to the platform’s appeal. “BCH Bull Production release is out,” the defi application’s devs announced on Twitter. “2x the contract size, 3x the contract duration, approx 30% cheaper fees, additional asset (CNY), premium tracker and language localization.”

BCH Bull has a new asset! Now you can hedge or leverage against Chinese Yuan (CNY). BCH Bull also has language localization, with Chinese language support. We hope to add more assets and language support as we grow! #bethebull #bch #cny #bitcoincash #utxo #chinese #chineseyuan pic.twitter.com/7Ts7qy3jFp

— BCH BULL (@BCH_BULL) April 18, 2023

Cashfusion Fuses $2B in Value Since Inception

April marked yet another significant milestone for Cashfusion, as the number of fusions jumped beyond $2 billion in value since its inception on November 28, 2019. Presently, over 17.4 million bitcoin cash (BCH) has been fused, currently valued at $2,049,395,837 according to current BCH exchange rates. This achievement has come at a time when Coinjoin processes have come under intense scrutiny. Both Cashfusion and Conjoin techniques are employed to obscure the origin and destination of crypto transactions, but their approaches and levels of privacy differ vastly.

While Coinjoin combines multiple crypto transactions, making it difficult to determine which inputs are associated with which outputs, it is not infallible as some patterns can still be identified. In contrast, Cashfusion is considered a more sophisticated privacy technique that utilizes a multi-party computation (MPC) protocol to blend transactions in such a way that even the participants cannot decipher which inputs are associated with which outputs. Data analyst James Waugh conducted tests on Cashfusion in 2020 and strongly endorsed the scheme’s practicality over other Coinjoin methods.

With just 18 days left before the much-anticipated BCH upgrade, Bitcoin Cash supporters are looking forward to the introduction of additional privacy-enhancing, decentralized applications. While they await the upgrade, BCH proponents are still taking advantage of tools like BCH Bull and Cashfusion. Along with the impressive Cashfusion milestone, this privacy application has now been integrated into the Electron Cash mobile wallet for Android systems, bolstering its accessibility.

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