Around 30 projects’ token unlocks are scheduled in August, adding a potential selling pressure of around $495 million.
The price of investment assets depends on supply and demand. If the proportion of supply increases and demand remains the same or decreases, the price plummets. In contrast, the price shoots up if demand increases and supply remains the same or decreases.
During token unlocks, there is an introduction of fresh supply. However, the demand might not necessarily go up. Hence, in general cases, there is a negative impact on price.
$143 Million Worth of Sandbox Tokens (SAND) Unlock in August
As per data compiled by BeInCrypto from TokenUnlocks, over 300 million SAND tokens will enter into circulation in August.
On August 14, the project will release 332.55 million SAND worth $142.45 million into circulation. This token unlock consists of 17.19% of the circulating supply.
The Sandbox wants to allocate the upcoming…
