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Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.
However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. Here are five major token unlocks to watch next week.
Aptos (APT)
- Unlock date: June 12
- Number of tokens unlocked: 11,3 million APT
- Current circulating supply: 437,9 million APT
Aptos is a Layer-1 blockchain that aims to deliver a safe and scalable infrastructure for decentralized applications. Built with a focus on security and performance, it leverages innovative technologies to elevate the blockchain experience.
While Aptos can be considered one of the most successful blockchain projects of the last couple of years, it often faces criticism from the crypto community for its tokenomics, which is heavily influenced by venture capital. A significant portion of APT tokens remains locked. 11.3 million APT scheduled for release on June 12 will be distributed among the foundation, community members, core contributors, and investors.
Read more: Where To Buy Aptos (APT): 5 Best Platforms for 2024
Immutable (IMX)
- Unlock date: June 14
- 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 during the IMX token sale on the CoinList platform in just one hour. 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 14, the circulating supply of IMX will increase by 25.5 million tokens. These newly unlocked tokens will be allocated to the development of the project and the broader Immutable ecosystem.
Read more: Layer-2 Crypto Projects for 2024: The Top Picks
Cyber (CYBER)
- Unlock date: June 14
- Number of tokens unlocked: 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. It facilitates creating and managing social connections between users and projects across various platforms. The protocol’s native token enables holders to purchase CyberIDs, vote on proposals to enhance the protocol and pay transaction fees.
Although the number of tokens being unlocked next week is smaller than other projects, it represents nearly 4% of CYBER’s circulating supply.
Read more: 9 Best Blockchain Protocols To Know in 2024
Starknet (STRK)
- Unlock date: June 15
- Number of tokens unlocked: 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. Following a successful investment round, the team introduced the STRK token, essential for decentralizing the network.
“The STRK Token was born so that STARK-based scaling can happen in a more decentralized way. The token design helps Starknet to be run and managed by the community, and Provisions is a powerful means to achieve this,” said Diego Oliva, CEO of Starknet Foundation.
On June 15, the project will unlock 64 million STRK tokens, distributed to investors and early contributors.
Read more: A Deep Dive Into Starkware, StarkNet, and StarkEx
Arbitrum (ARB)
- Unlock date: June 16
- Number of tokens unlocked: 92.6 million ARB
- Current circulating supply: 2.9 billion ARB
Arbitrum, developed by Offchain Labs, is one of the most popular Layer-2 solutions for Ethereum. The mainnet 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 will unlock over 90 billion ARB, currently valued at approximately $92.59 million. The team, advisors, and investors will receive these tokens.
Read more: How to Buy Arbitrum (ARB) and Everything You Need to Know
Other next-week unlocks include Moonbeam (GLMR), dYdX (DYDX), and Render (RNDR), with a total value exceeding $232.53 million. Although many consider token unlocks bearish, a well-planned schedule can strengthen a project’s long-term viability. Aligned with milestones and development progress, unlocks will motivate team members, boost community engagement, and promote ecosystem growth.