Token unlocking is the release of tokens that were previously blocked according to fundraising conditions. The project schedules these releases carefully to avoid market pressure and prevent token price declines.
However, factors such as lack of liquidity or profit-taking by early investors can have a significant impact on the dynamics of an asset. Here are five major token unlocks to watch out for next week.
Aptos (APT)
- Unlock date: June 12th
- Number of tokens unlocked: 113 million APT
- Current circulation: 437.9 million APT
Aptos is a layer 1 blockchain that aims to provide a secure and scalable infrastructure for decentralized applications. Built with a focus on security and performance , it leverages innovative technologies to enhance your blockchain experience.
Aptos is considered one of the most successful blockchain projects of the past few years, but has also faced criticism from the cryptocurrency community due to its tokenomics, which are heavily influenced by venture capital. A significant portion of APT tokens are still locked. Scheduled to be released on June 12, 11.3 million APTs will be distributed to foundations, community members, core contributors, and investors.
Read more: Where to Buy Aptos (APT): 5 Best Platforms for 2024
Immutable (IMX)
- Unlock date: June 14th
- Number of tokens unlocked: 25.5 million IMX
- Current circulating supply: 11.48 billion IMX
Immutable is a layer 2 solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million in just one hour through an IMX token sale on the Coinlist platform. In March 2022, it closed a $60 million investment round and secured an additional $200 million from investors including ParaFi Capital, Declaration Partners, and Tencent Holdings.
On June 14th, the circulation of IMX is expected to increase to 25.5 million. Newly unlocked tokens will be allocated for the development of the project and the wider Immutable ecosystem.
Read more: Layer 2 Crypto Projects in 2024 : Top Recommended Projects
CYBER
- Unlock date: June 14th
- Number of unlocked tokens: 886,120 CYBER
- Current circulating supply: 22.3 million CYBER
Cyber (formerly CyberConnect) is a decentralized social graph protocol built on the BNB Smart Chain. Create and manage social connections between users and projects across a variety of platforms. The protocol's native token allows holders to purchase CyberIDs, vote on protocol improvement proposals, and pay transaction fees.
Although the number of tokens unlocked next week is lower than other projects, it represents about 4% of cyber circulation.
Read more: 9 Best Blockchain Protocols to Know in 2024
Starknet (STRK)
- Unlock date: June 15th
- Number of unlocked tokens: 64 million STARK
- Current circulating supply: 1.3 billion STARK
Starknet is developing a ZK Rollup Layer-2 solution to scale decentralized applications on Ethereum . After completing a successful investment round, the team introduced the STRK token, which is essential for network decentralization.
“The STRK token was created to enable scaling of the STARK base in a more decentralized manner. The token design helps the community operate and manage Starknet, and provisioning is a powerful means of achieving this,” said Diego Oliva, CEO of the Starknet Foundation.
On June 15th, the project will unlock 64 million STRK tokens and distribute them to investors and early contributors.
Read more: In-Depth Analysis of Starkware, Starknet, and StarkX
Arbitrum (ARB)
- Unlock date: June 16th
- Number of unlocked tokens: 92.6 million ARB
- Current circulation: 290 million ARB
Arbitrum, developed by Offchain Labs, is one of the most popular layer 2 solutions on Ethereum. The mainnet was launched in August 2021 with funding from Lightspeed Venture Partners, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Alameda Research, entrepreneur Mark Cuban, and cryptocurrency exchange Coinbase.
Next week, Arbitrum is expected to unlock more than ARB 90 billion, currently worth about $92.59 million. Teams, advisors, and investors will receive these tokens.
Read more: How to Buy Arbitrum (ARB) and Everything You Need to Know
Other tokens to be unlocked next week include Moonbeam (GLMR), DYDX, and Render (RNDR), with a total value of over $232.53 million. Although many people consider token unlocks to be bearish, a well-planned schedule can strengthen the long-term viability of a project. Aligning unlocks with milestones and development progress can help motivate your team, encourage community engagement, and foster ecosystem growth.
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