August preview: Nearly $1 billion in unlocks planned for these token projects

Just months after Wormhole's airdrop in April, the cross-chain project will unlock a third of its token's circulating supply this month: 600 million tokens at a current value of about $180 million. It's far from the only project unlocking a significant chunk of its tokens, though: ZetaChain will unlock nearly a fifth of its circulating supply, and several other projects will see token unlocks worth $50 million or more. 

Here are all the significant token unlocks, worth $10 million or more at current prices, for the remainder of July and the month of August, according to Token.Unlocks data. 

Optimism: July 31, $55 million

Ethereum Layer 2 network Optimism will unlock 31.3 million tokens for core contributors and investors on July 31, making up nearly 2.8% of its circulating supply. The tokens have a current value of about $55 million. Optimism also supports Layer 3 networks on its 'Superchain.' 

dYdX: August 1, $11 million

Decentralized exchange dYdX will unlock 8.33 million tokens worth nearly $11 million on August 1, 3.65% of its circulating supply. The tokens will unlock for three groups: investors, founders and staff, and future employees. The site, which was recently compromised, is also reportedly in talks to sell some of its software. 

Sui: August 1, $50 million

Layer 1 network Sui, which is unlocking tokens this month alongside its rival Aptos, will unlock 2.56% of its circulating supply on August 1: 64 million tokens at a current value of about $50 million. The network will soon celebrate 15 months since launch. 

ZetaChain: August 1, $35 million

ZetaChain, a Layer 1 chain which launched earlier this year with the goal of eventually bringing together many different blockchains on a single platform after raising $27 million last year, will unlock a significant 18.92% of its circulating supply on August 1. The nearly 54 million tokens represent about $35 million at current prices. 

Wormhole: August 3, $180 million

Another significant unlock, Wormhole will unlock 600 million tokens, or an exact third of its circulating supply on August 3, worth over $180 million at current prices. Wormhole is a communication bridge between Solana and other top DeFi projects with a unicorn valuation. The project recently completed an airdrop in April for over 670 million tokens. 

ImmutableX: August 9, $49 million

Web3 gaming firm ImmutableX will unlock 2.11% of its circulating supply, 32.5 million tokens at a current value of $49 million, on August 9. VanEck said last December that the release of Web3 games like Illuvium could catapult ImmutableX into a top 25 token by market cap in 2024.

Aptos: August 12, $80 million

Aptos, one of two projects largely staffed by former members of Facebook's Libra currency project (the other one being Sui), will unlock another 2.41% of its circulating supply on August 12, 11.31 million tokens at a current value of around $80 million. 

The Sandbox: August 14, $69 million

Web3 gaming platform The Sandbox will unlock 9% of its circulating supply, 205 million tokens at a current value of about $69 million, on August 14. The platform raised $20 million in June to hit a unicorn valuation of $1 billion. 

StarkNet: August 15, $35 million

StarkNet, the Ethereum Layer 2 network which unveiled its 2024 roadmap in March and promised to enhance throughput and reduce transaction fees, will unlock 64 million tokens on August 15, representing 4.4% of the token's circulating supply. The current value of the tokens is about $35 million. 

Arbitrum: August 16, $67 million

Arbitrum, which recently became the first Layer 2 network to hit $150 billion total volume on Uniswap, will unlock 2.8% of its circulating supply on August 16. The 92.6 million tokens have a current value of about $67 million. 

Avalanche: August 20, $268 million

Avalanche, the Layer 1 blockchain which recently lost its VP of engineering, will unlock 2.42% of its circulating supply on August 20: 9.5 million tokens at a current value of $268 million. 

Other significant unlocks

August 2: Galxe will unlock 4 million tokens, 3.5% of its circulating supply at a current value of about $13 million. 

August 17: ApeCoin will unlock 2.3% of its circulating supply, 15.6 million tokens at a current value of about $12 million. 

August 18: Oasis Network will unlock 151 million tokens, 2.2% of its circulating supply at a current value of about $13 million. 

August 19: Pixels will unlock 54 million tokens, 7% of its circulating supply at a current value of about $11 million.