Nearly $875 Million in Crypto Tokens to Hit the Market in June: Aptos, Arbitrum, Starknet, and Sui Lead the Way

Nearly $875 Million in Crypto Tokens to Hit the Market in June: Aptos, Arbitrum, Starknet, and Sui Lead the Way

In June, nearly $875 million worth of crypto tokens from projects like Aptos, Arbitrum, Starknet, and Sui are set to be unlocked as their vesting periods come to an end.

According to Token Unlocks, over 30 blockchain-based projects will see their token vesting periods expire next month, potentially releasing a significant volume of cryptocurrencies into the market.

Crypto vesting is a strategic practice used to prevent early investors and project team members from selling off their tokens immediately, which could lead to market instability and a sharp decline in token prices. This is achieved by locking the tokens for a specified period.

Key Token Unlocks in June

The most substantial token unlock in June 2024 will come from the Ethereum layer-2 network, Arbitrum, which is set to release 92.65 million ARB tokens worth approximately $105.6 million on June 16. Of this, $64 million will go to the project’s team and advisors, while $41.6 million will be released to investors. This follows the release of 1.1 billion ARB tokens worth $2.32 billion in March, after which the token’s price fell by over 50%, from a high of $2.27 on March 8 to $1.13 currently.

The Layer-1 blockchain project, Aptos, will unlock 11.1 million APT tokens worth $102.6 million in June. Scheduled for June 12, this release includes $12.1 million for the network’s foundation, $29.1 million for its community, $35.9 million for core contributors, and $25.5 million for investors.

Starknet, a project utilizing zero-knowledge proofs, will unlock 64 million STRK tokens worth $78 million on June 15 for its early contributors and investors.

Optimism, another project focusing on optimistic rollups, will release 31.34 million OP tokens worth about $78 million. This follows a similar token release on May 31 for core contributors and investors, with another planned for June.

Lastly, on June 1, the Layer-1 blockchain platform Sui will unlock 65 million tokens valued at $66 million. These tokens will be allocated to Series A and Series B investors, early contributors, Mysten Labs treasury, and the community reserve. Sui previously released around $1 billion in crypto tokens in May.