Unlock is the process of releasing tokens that were previously locked according to the terms of investment rounds or other funding programs.

Usually, the project team carefully studies the tokenomics to prevent significant selling pressure at different unlock stages, which can lead to a decrease in token price. However, certain factors such as liquidity shortage or early investors' desire to cash out immediately after token unlocking can significantly impact the asset's quotes.

Contents:

• Sui (SUI)
• dYdX (DYDX)
• Aptos (APT)
• ImmutableX (IMX)
• ApeCoin (APE)
• Axie Infinity (AXS)
• Space ID (ID)

Sui (SUI)

• Unlock Date: July 3
• Number of unlocked tokens: 34.61 million SUI (0.35% of total supply)
• Value of unlocked tokens: $23.4 million
• Total Market Capitalization: $6.81 billion

Sui is a Layer 1 blockchain that offers high performance. The Proof-of-Stake consensus algorithm ensures the network's operation and security. This project was developed by Mysten Labs, a company founded in 2021 by a group of former Novi Research employees who previously worked on the creation of the Diem blockchain and the Move programming language.

Since December 2021, Mysten Labs has raised $336 million in two funding rounds. Major investors in the project include companies such as Binance Labs, Franklin Templeton, and a16z Crypto.

The next SUI unlock will occur on July 3. The unlocked tokens will be distributed to participants in the public presale.

dYdX (DYDX)

In early 2023, the decentralized derivatives trading protocol dYdX announced changes to its initial tokenomics. According to the updated information, 30% of the total DYDX token supply would be allocated to early investors, another 30% would be distributed among the project team and reserves for community support. Additionally, 28% of the tokens would be used to reward traders and liquidity providers, and the remaining percentage would be allocated to future employees, miners, and stabilization funds.

Currently, 23.65% of the total DYDX supply is circulating in the market, which amounts to 1 billion tokens. The remaining tokens will be gradually unlocked over the next three years.

Aptos (APT)

• Unlock Date: July 12th
• Number of Unlocked Tokens: 4.54 million APT (0.454% of the total supply)
• Value of Unlocked Tokens: $32.98 million
• Total Market Capitalization: $1.68 billion

Aptos, a first-layer blockchain, is one of the most successful projects of the current year. However, it regularly faces criticism from the crypto community due to its tokenomics, where venture capital plays a significant role. The majority of available Aptos tokens (83.37% of the total APT supply) are still locked. Unlocking will occur monthly over the next ten years.

ImmutableX (IMX)

Immutable X is a layer-two (L2) solution designed to scale NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million in just one hour during the IMX token sale on the CoinList platform. Later, in an investment round, the project closed a deal for $60 million, and in March 2022, it received an additional $200 million from companies such as ParaFi Capital, Declaration Partners, Tencent Holdings, and others. However, more than half of the proposed IMX tokens are still locked.

ApeCoin (APE)

• Unlock Date: July 17
• Number of Unlocked Tokens: 15.6 million APE (1.56% of the total supply)
• Value of Unlocked Tokens: $34.8 million
• Total Market Capitalization: $2.3 billion

ApeCoin is a token created for the Ape ecosystem by Yuga Labs, which includes one of the most popular NFT art collections, the Bored Ape Yacht Club. Typically, the APE token experiences a decline in price following an unlock event, and considering the recent sale of BAYC, this decline could be particularly significant.

Axie Infinity (AXS)

Axie Infinity is one of the most popular Play-to-Earn projects developed by Sky Mavis. The game takes place in a virtual environment inhabited by creatures called "axies." The platform allows players to breed axies and create new characters. Players earn rewards by winning battles and selling axies.

Space ID (ID)

• Unlock Date: July 22nd
• Number of Unlocked Tokens: 15.15 million IDs (0.76% of the total supply)
• Cost of Unlocked Tokens: $4.39 million
• Total Market Capitalization: $522.77 million

Space ID is a universal decentralized identification protocol that connects people, assets, and dApps across different blockchains. This platform enables the use of a single domain name to represent an individual's identity across various applications and networks.

On July 22nd, the project will unlock over 15 million tokens, which will be distributed among the Space ID fund and airdrop participants.