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APT, ARB, IMX and more
Token unlocking involves the release of previously locked tokens under the terms of the fundraising. Projects carefully plan these releases to avoid market pressure and prevent a decline in token prices.
However, factors such as lack of liquidity or early profit-taking by investors can have a significant impact on the dynamics of an asset. Here are the top five token unlocks to watch out for next week.
Aptos (APT)
- Unlock date: June 12th
- Number of tokens unlocked: 11.3 million APP
- 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 safety and performanceleverages innovative technologies to elevate the blockchain experience.
Although Aptos can be considered one of the most successful blockchain projects of the last two 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 remain locked. 11.3 million APTs scheduled for release on June 12 will be distributed among the foundation, community members, lead contributors and investors.
To know more: Where to Buy Aptos (APT): 5 Best Platforms for 2024
Immutable (IMX)
- Unlock date: June 14th
- Number of tokens unlocked: 25.5 million IMX
- Current circulating supply: IMX 11.48 billion
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 an 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 project’s development and the broader Immutable ecosystem.
To know more: Layer-2 Crypto Projects for 2024: Top Picks
Cybernetic (CYBER)
- Unlock date: June 14th
- Number of tokens unlocked: 886,120 CYBER
- Current circulating supply: 22.3 million CYBER
Cyber (formerly CyberConnect) is a decentralized system social Graphical protocol built on the BNB Smart Chain. Facilitates the creation and management of social connections between users and projects across various platforms. The protocol’s native token allows holders to purchase CyberID, vote on proposals to improve the protocol, and pay transaction fees.
Although the number of tokens unlocked next week is lower than other projects, it represents nearly 4% of CYBER’s circulating supply.
To know more: Top 9 Blockchain Protocols to Know in 2024
Starknet (STRK)
- Unlock date: June 15th
- Number of tokens unlocked: 64 million STARKs
- Current circulating supply: STARK 1.3 billion
Starknet is developing a ZK-Rollup Layer-2 solution to scale decentralized applications Ethereum. After a successful investment round, the team introduced the STRK token, which is 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 be community-run and managed, and Provisions is a powerful means to achieve this,” said Diego Oliva, CEO of the Starknet Foundation.
On June 15, the project will unlock 64 million STRK tokens, distributed to investors and early contributors.
To know more: A deep dive into Starkware, StarkNet and StarkEx
Referee (ARB)
- Unlock date: June 16th
- Number of tokens unlocked: 92.6 million ARB
- Current circulating supply: ARB 2.9 billion
Refereedeveloped by Offchain Labs, it is one of the most popular Level 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 ARBs, currently valued at approximately $92.59 million. The team, advisors and investors will receive these tokens.
To know more: How to buy Arbitrum (ARB) and everything you need to know
Other unlocks next week include Moonbeam (GLMR), dYdX (DYDX), and Render (RNDR), with a total value exceeding $232.53 million. While many view token unlocks as bearish, a well-planned program can strengthen a project’s long-term viability. In line with milestones and development progress, unlocks will motivate team members, increase community engagement, and promote ecosystem growth.
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