The crypto market will receive tokens worth more than $636.4 million this week. Major projects, including Sui (SUI), EigenCloud (EIGEN), and Kamino (KMNO), will release new tokens.
These openings can cause market volatility and control short-term movements. So, here are the details of what you should watch.
1. Sui (SUI)
- Opening Date: August 1
- Number of Tokens to be Unlocked: 13.72 million SUI
- Releases: 4.06 billion SUI
- Total number: 10 billion SUI
Sui is very successful blockchain is designed to provide scalability, low latency, and decentralized applications (dApps) architecture. It also differentiates itself from the data-centric model and the Move programming language, which aims to overcome the inefficiencies in blockchain architecture.
On August 1, the network will release 13.72 million SUI on the market, continuing its trend of opening reefs at the beginning of the month. The tokens are worth $9.91 million and represent 0.34% of the current issue.
The network will divide altcoins open 3 ways. Early Backers will receive 7.65 million tokens. In addition, the Community Reserve will receive 4 million tokens. Finally, Mysten Labs Treasury will get 2.07 million SUI.
2. OwnCloud (OWN)
- Opening Date: August 1
- Number of Tokens to be Unlocked: 36.82 million OWN
- Releases: 635.67 million OWN
- All Products: 1.67 billion OWN (Y2035)
EigenCloud (formerly EigenLayer) is a secure cloud platform built on the EigenLayer protocol. It provides developers with the tools to create reliable, reliable connections Web3 services and services.
On August 1, the network will unlock 36.82 million EIGEN tokens, worth approximately $7.63 million. Unopened tokens represent 5.79% of the issued tokens.
EigenCloud will manage 19.75 million tokens for investors. In addition, early contributors will receive 17.07 million EIGEN.
3. On Fire (KMNO)
- Opening Date: July 30
- Number of Tokens to be Unlocked: 229.17 million KMNO
- Releases: 7.71 billion KMNO
- Total number: 10 billion KMNO
Kamino Finance is a system of decentralized finance (DeFi) on Solana (SOL) blockchain which specializes in borrowing, lending, and financing.
On July 30, Kamino will unlock 229.17 million KMNO tokens. The tokens are worth approximately $4.14 million and represent 2.97% of the issued amount.
The group will distribute a large number of unlocked tokens, 145.83 million KMNO, to stakeholders and senior advisors. In addition, Kamino will give 83.33 to the highest contributors.
In addition to this, other popular openers that investors can watch this week include Falcon Finance (FF), Plasma (XPL), Sign (SIGN), and others.
A note 3 Token Opens to Watch This Week appeared for the first time BeInCrypto.
