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Monday, June 10, 2024
HomeCryptoTop 5 major token unlocks to watch for this week

Top 5 major token unlocks to watch for this week

Unlocking tokens involves releasing tokens that were previously locked according to the terms of the capital call. Projects carefully schedule these issuances to avoid putting pressure on the market and prevent token price drops.

However, factors such as lack of liquidity or early profit-taking by investors can have a significant impact on the asset’s momentum. Here are 5 big token unlocks to watch for this week.

1. 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 provide a secure and scalable infrastructure for decentralized applications. Built with a focus on security and performance, it leverages cutting-edge technologies to enhance the blockchain experience.

Although Aptos can be considered one of the most successful blockchain projects of the past few years, it has often faced criticism from the crypto community for its tokenomics, which has been heavily influenced by investors. venture capital. A significant portion of APT tokens remain locked. The 11.3 million APTs scheduled for release on June 12 will be distributed to organizations, community members, core contributors, and investors.

Source: Token Unlocks

2. 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 scaling network built on Ethereum, the leading blockchain for decentralized applications. Developed by the company Web3 Immutable through technology created by StarkWare, Immutable uses the native ERC-20 token IMX and hosts a number of different blockchain games on its network such as Gods Unchained, Guild of Guardians, Illuvium and Ember Sword, among others.

In September 2021, the project raised $12.5 million in a token sale on the CoinList platform in just one hour. In March 2022, it closed a $60 million funding round and received an additional $200 million from investors, including ParaFi Capital, Declaration Partners, and Tencent Holdings.

On June 14, the circulating IMX supply will increase by 25.5 million tokens and be allocated to project development and the larger Immutable ecosystem.

Source: Token Unlocks

3. Cyber ​​network (CYBER)

  • Unlock date: June 14
  • Number of tokens unlocked: 886,120 CYBER
  • Current circulating supply: 22.3 million CYBER

Cyber ​​(formerly CyberConnect) is a multi-chain decentralized social network protocol built on the BNB Chain, providing infrastructure that allows developers to build social network applications. Cyber ​​gives users ownership of their digital identity and data, the ability to share content, connect and interact with other users. The protocol’s native token allows holders to purchase CyberIDs, vote on proposals to enhance the protocol, and pay transaction fees.

Although the number of tokens unlocked next week is less than other projects, it represents nearly 4% of CYBER’s circulating supply.

Source: Token Unlocks

4. 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. After a successful investment round, the team introduced the STRK token, essential for network decentralization.

On June 15, the project will unlock 64 million STRK, distributed to investors and early contributors.

Source: Token Unlocks

5. 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 exchange Coinbase.

Next week, Arbitrum will unlock more than 90 billion ARB, currently worth approximately 92.59 million USD, for the team, advisors and investors.

Source: Token Unlocks

Other unlocks next week include Moonbeam (GLMR), dYdX (DYDX) and Render (RNDR), with a total value exceeding $232.53 million.

While token unlocking is often considered a price cut, a well-planned schedule can enhance a project’s long-term viability. Aligned with milestones and development progress, unlocking will motivate team members, increase community engagement, and drive ecosystem growth.

You can see coin prices here.


According to BeinCrypto

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.


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