About $1.17 billion will be released through cliff unlocks, while $3.36 billion will come from linear unlocks in September. Crypto projects are set to unlock about $4.5 billion in vested tokens in September, according to data tracker Tokenomist. Tokenomist data shows that about $1.17 billion will come from cliff unlocks, while $3.36 billion will be released through linear unlocks. About $4.5 billion in tokens will become available to investors, project teams and other stakeholders as vesting agreements expire. Cliff unlocks are typically larger, one-time token releases that happen at the end of a specified lockup period. This often affects the market more due to supply shocks. On the other hand, linear unlocks distribute tokens over time, which helps smooth out the impact on the supply. Read more
Bitcoin bulls are shrugging off the risk of fresh BTC price downside with a return to $113,000, but they have more work to do, said trader Peter Brandt. Key points: Bitcoin builds on 1.6% daily gains as bulls overcome a fresh round of BTC sales by an “OG” whale entity. Accumulation is in full swing across the board, research says, with interest mimicking April’s price rebound. Read more
Over 70,000 wallets piled into the YZY memecoin, but most lost money as its price collapsed by over 80%, underscoring the risks of celebrity-backed tokens. More than 51,000 traders incurred losses on Kanye West’s recently launched memecoin, highlighting the potential risks of trading celebrity-endorsed tokens with no intrinsic technological utility. The Kanye West-linked YZY token was launched on the Solana blockchain on Aug. 21. It rallied 1,400% within the first hour before losing over 80% of its value. Of the 70,200 traders who invested in the celebrity-endorsed token, more than 51,800 realized losses, with three traders losing over $1 million, according to blockchain data platform Bubblemaps. Read more