This week is packed with significant developments in the cryptocurrency space, from major token mergers and exchange updates to crucial network upgrades and anticipated ETF approvals. Staying informed is key to navigating the dynamic crypto market.
Here’s a detailed look at the most important events scheduled for the upcoming week.
July 1: Major Token Mergers and Unlocks
A significant wave of activity begins on Monday, July 1st, headlined by the commencement of the ASI token merger.
ASI Token Merger Begins
The Artificial Superintelligence (ASI) alliance token merger officially starts. In the first phase, SingularityNET's AGIX and Ocean Protocol's OCEAN will temporarily merge into Fetch.ai's FET tokens before a final conversion to ASI. Major exchanges, including Binance, will support this migration. The conversion rates are set at:
- 1 AGIX = 0.433350 FET
- 1 OCEAN = 0.433226 FET
- 1 FET = 1 ASI (at the final conversion)
Binance will halt trading and delist all FET, OCEAN, and AGIX spot trading pairs at 11:00 AM UTC+8 on July 1st. Trading for new ASI pairs will commence on July 5th.
Stablecoin Changes on Uphold
Due to the upcoming MiCA regulations in the European Economic Area, the Uphold exchange will cease support for several stablecoins, including USDT, DAI, FRAX, GUSD, USDP, and TUSD, starting July 1st. Users are advised to convert their holdings to USDC before June 27th to avoid automatic conversion.
Major Token Unlocks (July 1)
A substantial amount of tokens will be released from their vesting schedules, potentially impacting their market price:
- Sui (SUI): 64.19 million tokens ($50.7M), 2.65% of circulating supply.
- io.net (IO): 7.5 million tokens ($24M), 7.89% of circulating supply.
- dYdX (DYDX): 8.33 million tokens ($11.3M), 3.12% of circulating supply.
- Other unlocks for MAV, ZETA, MANTA, and ACA.
Other Key Events:
- ether.fi Season 3 begins, featuring a 25 million ETHFI airdrop.
- The WEMIX Brioche hard fork goes live, reducing the total token supply cap.
- io.net Ignition Reward Program Season 3 claims open.
- dYdX reduces its monthly token unlock by 75%.
- MerlinSwap's Phase 2 airdrop proposal voting ends.
July 2: Exchange Updates and Protocol Launches
Binance Market Maker Program Update
Binance will update its Fiat Market Maker program. The JPY market will be included, and a new activity review mechanism will be implemented. From July 2nd, maker fee rebates will be based on a market maker's liquidity performance in designated spot fiat markets.
Particle TGE
The Blast ecosystem's decentralized leverage trading protocol, Particle, will conduct its Token Generation Event (TGE) for the PTC token at 18:00 UTC+8. The max supply is 200 million tokens, with 55% allocated to the community. An initial airdrop of 20 million tokens will be distributed.
July 3: Crucial Network Upgrades
Scroll Curie Upgrade
The Ethereum Layer 2 network Scroll will undergo its Curie upgrade. This major update introduces Data Availability (DA) compression, which is expected to reduce on-chain gas fees by up to 50%. The upgrade also includes support for EIP-1559 and EIP-2930 transaction types.
Ronin Goda Upgrade
The Ronin network is scheduled for its Goda upgrade at 15:00 UTC+8. It includes the Trippp and Aaron hard forks, which will adjust validator rewards and introduce smart contract upgradability for Axie Infinity assets.
July 4: Airdrop Deadlines and ETF Speculation
Wormhole W Airdrop Claim Window Closes
The deadline to claim the Wormhole W airdrop is July 3rd at 23:59 UTC (July 4th, 07:59 UTC+8). Eligible users must claim their tokens before this time.
Potential Ethereum ETF Approval
Industry insiders suggest the U.S. Securities and Exchange Commission (SEC) could approve spot Ethereum ETFs as early as July 4th. This decision is highly anticipated and could catalyze significant market movement. 👉 Explore more strategies for navigating major market events
July 5: Final Airdrop Claims and Research Grants
Taiko Airdrop Claim Deadline
The first phase of the Taiko (TAIKO) airdrop claim ends on July 5th. Eligible users, including bridgers, developers, and Loopring community members, can claim 5% of the initial supply (50 million tokens). Users must bridge some ETH to Taiko to pay for gas fees to claim.
Sui Foundation Grant Deadline
The next deadline for proposals for the Sui Foundation's academic research grant program is July 5th. The foundation has committed an additional $1 million to fund blockchain research in 2024.
Token Unlocks (July 5):
- Galxe (GAL): 3 million tokens ($6.6M), 2.60% of circulating supply.
- Liquity (LQTY): 657,000 tokens ($560K), 0.68% of circulating supply.
- Euler (EUL): 54,000 tokens ($240K), 0.29% of circulating supply.
July 7: End-of-Week Token Unlocks
The week concludes with two more token unlocks on Sunday, July 7th:
- Ethena (ENA): 14.89 million tokens ($7.6M), 0.92% of circulating supply.
- Hashflow (HFT): 13.62 million tokens ($2.8M), 3.28% of circulating supply.
Frequently Asked Questions
What is the ASI token merger?
The ASI merger is the consolidation of Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) tokens into a single new token called Artificial Superintelligence (ASI). The process involves first converting OCEAN and AGIX to FET before a final conversion to ASI at a 1:1 ratio for FET holders.
How do I claim the Taiko airdrop?
To claim the Taiko airdrop, you must first check your eligibility on their official claim portal. If eligible, you need to bridge a small amount of ETH to the Taiko network to cover gas fees. Then, connect your wallet to the portal and follow the instructions to claim your TAIKO tokens before the July 5th deadline.
What does the Scroll Curie upgrade do?
The Scroll Curie upgrade introduces data availability compression, a technique that reduces the amount of data published to Ethereum Layer 1. This significantly lowers transaction gas fees for users on the Scroll Layer 2 network, making it more cost-effective.
Why are token unlocks important?
Token unlocks release coins from a vesting period allocated to team members, investors, or the treasury. A large unlock can increase the selling pressure on a token if recipients decide to sell their newly available assets, potentially impacting the token's price in the short term.
What is a Token Generation Event (TGE)?
A Token Generation Event (TGE) is the official launch and distribution of a new cryptocurrency token to the public. It often involves initial airdrops to early supporters and the beginning of trading on decentralized and centralized exchanges.
Where can I track these crypto events?
Staying updated requires reliable sources. Many platforms offer crypto calendars that track major events, upgrades, and unlocks. 👉 View real-time tools for tracking market-moving events