This week, projects Avalanche (AVAX), Lido (LDO) and Yield Guild Games (YGG) will unlock their native tokens for a total of $120 million. The bulk, $100 million, is in AVAX.
According to data from Token Unlocks, on August 27 the blockchain-gaming-focused Yield Guild Games will release 12.22 million YGG valued at about $2.87 million, representing 6.6% of the circulating supply.
Of these, $1.73 million will go to founders and investors. A further $457,000 will go to the project’s treasury, and $684,000 to the community.
Yield Guild Games unlocked a similar amount on July 27. After that, YGG’s price rose by nearly 300% in a week, from $0.18 to $0.75. However, by the time of writing, the asset’s price had fallen again to $0.22, down 8% on the day.
On August 25, the liquid staking platform Lido Finance will unlock 8.5 million LDO worth $14.11 million — 0.97% of the total supply. The entire amount is allocated for the project’s investors.
Earlier unlocks had little impact on the coin’s price. At the time of writing, LDO is trading at $1.66.
The largest unlock this week belongs to the Layer 1 blockchain Avalanche. On August 26, the protocol team will release 9.54 million AVAX worth $100.57 million, representing 2.77% of the asset’s total supply.
The coins will be allocated as follows:
- $48 million — to developers;
- $24 million — to strategic partners;
- $17.8 million — to the Avalanche Foundation fund;
- $12 million — for airdrops.
Last time Avalanche unlocked a similar amount of tokens in May, the AVAX price fell by more than 20%, from $14.53 to $11.33.
The metaverse platform The Sandbox unlocked 332.55 million SAND worth $130 million. This amount increased the asset’s circulating supply by 16%.