Locked Cryptocurrencies Set to Enter Markets in June

Cryptocurrencies worth nearly $875 million are poised to enter the markets in June as the token vesting periods for over 30 blockchain-based projects expire.

Token Unlocks data tracker reveals that the largest portion of crypto tokens unlocking in June 2024 includes Aptos, Arbitrum, Starknet, and Sui.

Crypto vesting is a widely adopted practice in the cryptocurrency realm to deter premature token selling by a project's team members or early investors.

Through various mechanisms, vesting restricts the immediate sale of crypto tokens, preventing undue market pressure and subsequent decreases in token values.

Largest Token Unlocks in June

The Ethereum layer-2 network, Arbitrum, is scheduled to unlock 92.65 million ARB tokens valued at $105.6 million on June 16. A significant portion of around $64 million in tokens is assigned to the project's team and advisors, with the remainder of $41.6 million set for its investors.

Arbitrum previously released 1.1 billion ARB tokens worth $2.32 billion on March 16. Subsequently, the token's price plummeted by over 50% from a peak of $2.27 on March 8 to $1.13 at present.

Layer-1 blockchain project, Aptos, is preparing to release 11.1 million APT tokens valued at $102.6 million this June. The network is planning to unlock $12.1 million for its foundation, $29.1 million for its community, $35.9 million for core contributors, and $25.5 million for investors on June 12.

Following these significant unlocks, Starknet, a zero-knowledge proofs project, will also unveil tokens in June. On June 15, the ZK protocol will release 64 million STRK tokens worth $78 million for its early contributors and investors.

Meanwhile, the optimistic rollups project, Optimism, is set to unlock 31.34 million OP tokens valued at about $78 million. Previously, an equivalent token amount was unlocked for core contributors and investors, with a similar release in June.

On June 1, Sui, a layer-1 blockchain platform, will unlock 65 million tokens valued at $66 million. These tokens are allocated for Series A and Series B investors, early contributors, Mysten Labs treasury, and community reserve according to Token Unlocks. In May, the project previously unearthed nearly $1 billion in crypto tokens.