Three Notable Tokens Unlocked in the Second Week of July: Aptos, Immutable X, and Cheelee
As we enter the second week of July, the crypto market is closely watching three notable token unlocks from major projects: Aptos (APT), Immutable X (IMX), and Cheelee (CHEEL). With a total value of tens of millions of USD, these unlocks not only impact circulating supply but can also influence short-term price movements and market sentiment. Here’s a detailed breakdown of each project and what investors should know.
Aptos (APT): Expanding the Community and Staking
Unlock Date: July 12
Token Quantity: 11.31 Million APT
Share of Total Supply: 0.98%
Estimated Value: Approximately $50 Million
Current Circulating Supply: 644.5 Million APT
Total Supply: 1.15 Billion APT
Aptos is a layer-1 blockchain built on the legacy technology of Meta (Facebook), using the Move programming language. The platform is designed to deliver high performance, low latency, and strong scalability for Web3 applications.
The July 12 unlock will put 11.31 million APT into circulation, equivalent to nearly 1% of the total supply. Of which, the majority will be allocated to the community, including staking rewards, ecosystem development incentives, and support for existing users. Approximately 10% of tokens are reserved for staking rewards, demonstrating Aptos’ commitment to growing its community of validators and active users.
Unlocking a large amount of tokens may cause short-term selling pressure, however, the allocation to ecosystem growth activities may also drive long-term value.
Immutable X (IMX): Supporting NFT and Ecosystem Development
Unlock Date: July 11
Token Quantity: 124.52 Million IMX
Proportion of Total Supply: 1.23%
Estimated Value: Over $10 Million
Current Circulating Supply: 1.8 Billion IMX
Total Supply: 2 Billion IMX
Immutable X is a Layer-2 solution on Ethereum specifically for NFTs, leveraging zero-knowledge rollup (zk-rollup) technology to provide gasless, high-speed, and ultimately near-instant transactions.
The upcoming unlock will release 124 million tokens, most of which are targeted towards ecosystem expansion including partner, developer, and community building activities. About 5% of these will be used in public sales, potentially bringing new liquidity to the IMX market.
While the amount of tokens unlocked is relatively large, the strategy of using it to incentivize growth could help reduce the pressure to sell off. Immutable is in the process of consolidating its leading position in the NFT space on Ethereum, and resource expansion will be key.
Cheelee (CHEEL): Unlocking to Increase User Rewards
Unlock Date: July 10
Token Quantity: 2.67 Million CHEEL
Total Supply: 0.27%
Estimated Value: Approximately $13.4 Million
Total Supply: 1 Billion CHEEL
Cheelee is a Web3 hybrid social networking platform where users and content creators are rewarded with tokens for watching and creating videos. The platform also integrates NFTs specifically NFT glasses that allow trading, staking, and upgrading to expand earning potential.
With 2.67 million CHEEL tokens unlocked on July 10, the platform plans to allocate most of them to a user reward pool. The token unlocking comes with a strategy to increase engagement, helping to sustain ecosystem growth without negatively impacting short-term market value.
Cheelee has established itself as one of the fastest-growing SocialFi platforms, and the expansion of locked token rewards has helped drive engagement and retention.
Overall Views
The second week of July saw three significant token unlocks:
Aptos focuses on community and staking
Immutable X prioritizes NFT ecosystem development
Cheelee increases reward distribution and encourages usage
While token unlocks often bring supply pressure, a reasonable allocation and clear direction in usage strategy can turn this into an opportunity to drive growth, if managed effectively. Investors should closely monitor trading volume, price reaction, and project updates to make informed decisions during this sensitive period of the market.