- Token unlocks in June 2024 signify significant movements in crypto markets, with over $771 million worth of assets released.
- ARB, APT, STRK, DYDX, and SUI experience unlocks ranging from 2.59% to 11.91% of total circulation.
- Market reactions vary post-unlocking, with price fluctuations ranging from -15% to +11% within days.
Based on Token Unlocks data, there will be around $771 million worth of crypto assets unlocked by June 2024. Unlocking tokens in crypto alludes to the method by which held tokens ended up accessible for exchange or use, frequently agreeing to a plan set out in a whitepaper or project agreement.
This process can increase market volatility, create selling pressure, and influence market perception of the token, depending on how token holders respond. There are five cryptocurrencies with the biggest unlocks in June 2024
Arbitrum (ARB)
ARB unlocked 92.65 million ARB tokens on June 16 2024 or 3.49% of total circulation. This unlock value is equivalent to $110.25 Million. These unlock tokens are allocated to teams and advisors, as well as investors. Previously, there was an unlock on May 16 2024 with the same number of tokens and allocation distribution. ARB prices fell -4.5% shortly after unlocking, but experienced a price increase of +11% the day after unlocking.
Aptos (APT)
APT unlocked 11.31 million APT tokens on June 12 2024 or 2.59% of total circulation. This unlock value is equivalent to almost $102.92 million. These unlock tokens are allocated to the Aptos Foundation and community as in regular monthly unlocks, as well as contributors and investors. The previous unlock occurred on May 12, 2024, with the same number of tokens and allocation distribution. APT price experienced a decline of -9.3% two days after unlocking.
Starknet (STRK)
STRK unlocked 64 million STRK tokens on June 15 2024 or 5.61% of total circulation. The unlock value is equivalent to $80 million. These unlock tokens are allocated to early contributors and investors. The previous unlock occurred on May 15, 2024, with the same number of unlocked tokens and allocation distribution. STRK’s price experienced a decrease of -10.4% two days after unlocking.
dYdX (DYDX)
DYDX unlocked 33.33 million DYDX tokens on June 1 2024 or 11.91% of total circulation. This unlock value is equivalent to $69.67 million. This unlock token is allocated to investors founders and their teams. The DYDX price will likely experience a slight correction in the short term after unlocking because the allocation is aimed at investors who tend to cause selling pressure.
Sui (SUI)
SUI unlocked 64 million SUI tokens on June 1 2024 or 2.78% of total circulation. This unlock value is equivalent to $69.11 million. These unlock tokens are allocated to series A and B investors, early contributors, Mysten Labs treasury, and community reserves. The previous unlock occurred on May 3, 2024, with a much larger number of unlocked tokens and the same allocation distribution. SUI price experienced a drop of -15% a week after unlocking.
In the evolving landscape of crypto, the future of ARB, APT, STRK, DYDX, and SUI appears promising. Despite short-term fluctuations post-unlocks, the underlying potential of these tokens remains strong. As the market matures and adapts, these projects are poised to showcase resilience and innovation, driving positive growth in the crypto industry.
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The post A Closer Look at the 5 Largest Token Unlocks of June 2024 – ARB, APT, STRK, DYDX, and SUI: Are you Buying or Selling? appeared first on Crypto News Land.
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