Crypto projects Avalanche, Lido and Yield Guild Games are set for significant token unlocks this week — releasing more than a combined $120 million worth of tokens into circulating supply.
YGG, the token for blockchain gaming DAO Yield Guild Games, sees the largest unlock, according to Token Unlocks. Yield Guild Games releases 12.22 million YGG tokens on Aug. 27 — 6.6% of its circulating supply, worth $2.87 million. The majority ($1.73 million) of the unlocks will go to founders and investors, with $457,000 going to the project’s treasury and $684,000 to its community.
Yield Guild Games released a similar amount — 13 million YGG — in July. Following that unlock, the price of YGG surged over 300% from $0.18 to $0.75 before falling back to $0.24, according to CoinGecko data.
Avalanche unlocks $100 million worth of AVAX
Layer 1 blockchain Avalanche releases 9.54 million AVAX tokens on Aug.26 — equivalent to 2.77% of its circulating supply — worth $102.1 million. Around $48 million will be allocated to the team, $24 million to strategic partners, $17.8 million to the Avalanche Foundation and $12 million for airdrops.
Avalanche released the same amount of tokens with its last unlock in May, which saw the AVAX token fall over 20% from $14.53 to $11.33. AVAX is currently trading at $10.68.
Ethereum liquid staking solution Lido rounds up the most significant unlocks this week, with 8.5 million LDO tokens released on Aug. 25. All the tokens will go to investors, representing Lido’s final cliff unlock.
Other tokens with smaller unlocks scheduled for this week include Polkadot DeFi hub Acala’s token, DeFi aggregator 1inch Network’s 1INCH and yield-trading protocol Pendle’s token.
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