Markets
Crypto Market anticipates unlocking $875 million token in June
In June, vesting periods for more than 30 blockchain projects are set to expire, potentially releasing nearly $875 million in locked cryptocurrencies into markets. This practice, known as cryptocurrency vesting, aims to prevent project team members or early investors from suddenly dumping their tokens, which could cause significant downward pressure on token prices.
Several prominent projects like Aptos (APT), Arbitrum (ARB), Starknet (STRK), and Sui (SUI) are set to unlock their tokens in June. Notably, the Ethereum Layer-2 Arbitrum network will launch 92.65 million ARB tokens worth $105.6 million on June 16.
According to TokenUnlocks, the big unlocks in June (unlocked value over $10 million) include 1INCH DYDX SUI ENA APT IMX STRK ARB APE PIXEL ID ALT YGG, etc., with an unlock value of over $739 million Americans.https://t.co/tuQYnSlfTZ pic.twitter.com/reHIhab3VX
— Wu Blockchain (@WuBlockchain) May 31, 2024
A substantial portion of these tokens, worth nearly $64 million, will be allocated to the project team and advisors, while the remaining $41.6 million will be released to investors.
Similarly, Aptos will unlock 11.1 million APT tokens worth $102.6 million in June, with distributions planned for its foundation, community, top contributors, and investors. Starknet will release 64 million STRK tokens worth $78 million on June 15, primarily to early contributors and investors.
Additionally, Optimism will unlock 31.34 million OP tokens, valued at approximately $78 million, following a similar launch in May. Sui is also expected to unlock 65 million tokens worth $66 million on June 1 for its Series A and Series B investors, early contributors and community reserve.
These unlocks come after a period of significant token launches, indicating potential market impacts as these tokens become available for trading.
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