ARB, OP, WLD, STRK set for $173 million token unlock next week

• 
  ARB,
  OP,
  WLD,
  and
  STRK
  are
  among
  tokens
  set
  for
  a
  combined
  $173.56 million
  unlock
  event
  next
  week.
• 
  The
  unlocking
  of
  ARB,
  WLD
  and
  STRK
  tokens
  may
  spark
  further
  retracement
  in
  their
  prices,
  which
  are
  currently
  on
  a
  downtrend.
• 
  ENA
  and
  1INCH
  will
  undergo
  another
  unlock
  event
  following
  recent
  hikes
  in
  their
  supply.

The
crypto
market
is
set
to
witness
over $173 million
worth
of
token
unlocks
next
week
featuring
Arbitrum
(ARB),
Optimism
(OP),
Starkware
(STRK)
and
others.
These
tokens
will
see
a
hike
in
their
circulating
supply,
which
historically
causes
downward
pressure
on
prices.

Crypto
token
unlocks
to
look
out
for
next
week

The
crypto
market
will
witness
another
round
of
token
unlocks
next
week,
according
to
data
from
token
tracker
TokenUnlocks
on
Friday.
The
unlocks,
worth
$173.56 million
at
the
time
of
writing,
will
raise
the
circulating
supply
of
several
tokens,
including
ARB,
STRK,
AXS,
APE,
PIXEL,
ENA,
MATA,
RNDR,
CYBER,
ASTR,
NYM,
EUL,
1INCH
and
FORT.

Token
unlocks
are
events
where
a
cryptocurrency
project
releases
new
tokens
into
circulation.
These
events
increase
the
token’s
supply
and
often
cause
a
decline
in
its
price.

ARB,
WLD
and
STRK
tokens
will
witness
the
largest
unlocks
next
week,
with
$64.31
million,
$39.79
million
and
$35.36
million
worth
of
their
tokens
being
unlocked,
respectively.
The
impact
of
the
unlock
may
stir
further
price
declines
for
these
tokens
which
are
currently
on
a
downtrend.

ARB
had
previously
seen
a
heavy
price
decline
following
its
token
unlock
event
in
March.
Its
price
dipped
by
6%
following
the
unlock
event,
and
its
weekly
loss
stretched
more
than
18%.

WLD
may
be
the
most
affected
as
it
will
see
a
total
of
$628.17
million
worth
of
unlocks
in
July.

Upcoming
Token
Unlocks
in
July

Meanwhile,
ENA
and
1INCH
will
undergo
another
unlocking
event
next
week
after
experiencing
unlocks
worth
$6
million
and
$11,000
between
July
7-8,
respectively.
Both
tokens
are
down
by
about
1%
in
the
past
24
hours.

On
the
other
hand,
OP
and
RNDR
are
up
about
1%
in
the
past
24
hours
but
may
experience
declines
following
their
upcoming
unlocks