back to top
Sunday, June 2, 2024
HomeCryptoNearly $875 million in locked tokens are about to hit the market...

Nearly $875 million in locked tokens are about to hit the market in June

Nearly $875 million worth of locked tokens from more than 30 projects could flood the market in June.

According to Token Unlocks, the largest amount of tokens to be unlocked in June 2024 belongs to Aptos, Arbitrum, Starknet and Sui.

Vesting is a common method in the cryptocurrency space to prevent project team members or early investors from selling all tokens at once and putting heavy pressure on the market. , which often leads to token price drops.

Unlock June tokens

Arbitrum Ethereum layer 2 network will unlock 92.65 million ARB tokens worth $105.6 million on June 16. Nearly $64 million in tokens are allocated to the project’s team and advisors, while 41,000 $6 million will go to investors.

On March 16, Arbitrum issued 1.1 billion ARB worth $2.32 billion at the time. Since then, the token’s price has dropped more than 50%, from a high of $2.27 on March 8 to $1.13 at the time of writing.

ARB 1-day price chart. Source: TradingView

Layer 1 blockchain project Aptos will issue 11.1 million APT tokens worth $102.6 million on June 12, of which $12.1 million tokens are for the Foundation, $29.1 million for the community , $35.9 million to core contributors and $25.5 million to investors.

Zero-knowledge proofs project Starknet will also unlock 64 million STRK tokens worth $78 million on June 15 for early contributors and investors.

Meanwhile, optimistic rollup project Optimism will unlock 31.34 million OP tokens, worth about $78 million on May 31 for core contributors and investors and will do the same on May 31. June.

On June 1, layer 1 blockchain platform Sui will unlock 65 million tokens worth $66 million to Series A and Series B investors, early contributors, Mysten Labs treasury, and community reserve. The project previously issued about $1 billion in crypto tokens in May.

Itadori

According to Cointelegraph

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Fresh