Crypto Tokens Worth Over $37 Million to Unlock This Week

Five notable crypto releases are happening this week, ranging from NFT-brand-turned-Layer-2 token Pudgy Penguins to LayerZero, a widely used cross-chain messaging protocol.

The collective value of these tokens is over $37 million in newly circulating supply. Here's what's unlocking and who receives it:

Pudgy Penguins (PENGU) is releasing 703.50M tokens on August 17, worth roughly $4.19 million. This token is already mostly unlocked, with 77.8% of its total supply released.

ZKsync (ZK), an Ethereum Layer 2 scaling network, will unlock 173.41M ZK on August 19, valued at approximately $1.30 million. Most of its token supply remains locked, so future releases may carry more weight than this week's release.

Kaito, an AI-powered information platform, is unlocking 32.60M KAITO tokens on August 20, worth around $11.06 million. This represents the highest unlock relative to market cap for any of these assets this week, with Creator Incentives accounting for nearly half the released tokens.

Lombard, a Bitcoin DeFi protocol, is releasing 36.91M BARD tokens on August 20, valued at $36.91 million. Its Foundation and Community & Ecosystem buckets moved while Early Investors and Core Contributors remained flat.

LayerZero (ZRO) will unlock 25.71M ZRO tokens on August 20, worth close to $19.66 million. This represents the single highest unlock-to-market-cap ratio of the week, at 7.28% of LayerZero's current market cap.