- June 2024 marks a pivotal moment in crypto as $875 million worth of tokens from 30+ projects unlock.
- Projects like Aptos, Arbitrum, Starknet, and Sui are poised for significant token releases this June.
- Investors brace for potential market impacts as tokens flood the market, impacting short-term trading.
June is poised to be an eventful month within the cryptocurrency circle, with the unlocking of nearly $875 million worth of tokens from over 30 blockchain projects. Opening of this token follows to the standards of crypto vesting directions, pointed at anticipating sudden sell-offs by venture group individuals or early investors, which might possibly trigger critical advertise downturns.
Among the important projects scheduled for token opening in June are Aptos (APT), Arbitrum (ARB), Starknet (STRK), and Sui (SUI). Notably, Arbitrum, the layer-2 network for Ethereum, is planned to discharge 92.65 million ARB tokens esteemed at $105.6 million on June 16, 2024.
The lion’s share of the recently opened tokens, totaling over $64 million, will be allocated to venture teams, while the remaining $41.6 million will be distributed to investors. Aptos will unlock 11.1 million APT tokens worth $102.6 million in June, with distribution planned for foundations, communities, core contributors, and investors.
Meanwhile, Starknet will release 64 million STRK tokens worth $78 million on June 15, primarily to early contributors and investors. Optimism will also unlock 31.34 million OP tokens, worth approximately $78 million, following a similar release in May. Not to be left behind, Sui will open 65 million tokens worth $66 million on June 1 to Series A and Series B investors, early contributors, and community reserves.
This token unlock occurs after a significant token release period, indicating potential market impact as these tokens become available for trading. The impact may vary depending on various factors, including the size of the opening, token utility, and overall market conditions.
Some analysts predict that the token unlock could lead to short-term selling pressure, as investors who receive the tokens look to realize profits. However, others believe that the impact may be limited, especially for projects with strong use cases and engaged communities.
Finally, the token’s launch in June will most likely be a watershed moment for the crypto industry. Investors should attentively follow the situation and conduct their own research before making any investments.
Read Also
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
