What Will Be the Impact of July's $138 Million Token Unlock?

Over $138 million in crypto tokens will be released into circulation in July, including Aptos (APT), ApeCoin (APE), Axie Infinity (AXS), and Optimism (OP), potentially increasing selling pressure.

Timeline of Apecoin-ape, Aptos, Axie-infinity, Optimism-ethereum

Popular altcoin Aptos (APT), also known as the Solana Killer, might be in for a bumpy ride in its ecosystem and price actions ahead. According to on-chain analyst and researcher Tom Dunleavy, a total of 2% APT tokens are set to be unlocked tomorrow.

Uwerx, Aptos (APT), and OKX (OKB) are three utility projects that are changing the future of blockchain technology. Uwerx is primarily at the centre of this journey, bringing blockchain additions to the freelance marketplace. The cryptocurrency is also up for presale, and its potential for large profits may help you rebuild your wealth in 2023.

The Twitter account of the Aptos Foundation recently fell victim to a hacking incident, resulting in fraudulent activity and attempts to deceive users. The hackers behind the breach directed unsuspecting individuals to a counterfeit website promising participation in a fake airdrop.

While we reported proponents such as Animoca brands co-founder Yat Siu believes no-fungible tokens are here to stay, the industry prints worrying figures day by day. That has affected associated assets, including ApeCoin (APE), which hit new all-time lows today (7 July).

A hacker posted false information about an airdrop after compromising the Twitter accounts of Aptos Network and its CEO. Aptos has asked users to be wary and not interact with any suspicious posts.

Aptos Labs announced on Twitter today that the Aptos Network had been compromised. The news was confirmed through an official communication from the Aptos Foundation, as reported on Aptos Labs' Twitter account.

In the midst of a considerable drop in the base price of non-fungible tokens (NFTs) from the Bored Ape Yacht Club, the related cryptocurrency, apecoin (APE), has likewise suffered due to the bearish trends in that specific market.

APT, the native token of the Aptos Network, is currently making market waves as it prepares for its upcoming token release in July. According to data by CoinMarketCap, APT has gained by 10.14% in the last 24 hours, emerging as part of the top gainers in today's market.

Optimism (OP), a prominent Layer 2 network, is experiencing a noticeable decline in network activity as the hype surrounding meme coins takes a dip. Once bustling with vibrant transactions and a fervent community, Optimism now faces a subdued atmosphere as users shift their attention away from these speculative assets.

Axie Infinity (AXS) price gained 20% last week after a rare gaming tournament triggered an unexpected bull rally. With the tournament still ongoing, on-chain data suggests that the rally may not be over.