Nearly $875 million worth of locked tokens from more than 30 projects could flood the market in June.
According to Token Unlocks, the largest amount of tokens to be unlocked in June 2024 belongs to Aptos, Arbitrum, Starknet and Sui.
Vesting is a common method in the cryptocurrency space to prevent project team members or early investors from selling all tokens at once and putting heavy pressure on the market , which often leads to a decrease in token price.
Unlock June tokens
Ethereum layer 2 network Arbitrum will unlock 92.65 million ARB tokens worth $105.6 million on June 16. Nearly $64 million in tokens are allocated to the project's team and advisors, while 41, $6 million will go to investors.
On March 16, Arbitrum issued 1.1 billion ARB worth $2.32 billion at the time. Since then, the token's price has dropped more than 50%, from a high of $2.27 on March 8 to $1.13 at the time of writing.
ARB 1-day price chart. Source: TradingView
Layer 1 blockchain project Aptos will release 11.1 million APT tokens worth $102.6 million on June 12, of which $12.1 million tokens go to the Foundation, $29.1 million to the community , $35.9 million to core contributors and $25.5 million to investors.
The zero-knowledge proofs project Starknet will also unlock 64 million STRK tokens worth $78 million on June 15 for early contributors and investors.
Meanwhile, the optimistic rollup project Optimism will unlock 31.34 million OP tokens, worth approximately $78 million, on May 31 for core contributors and investors, and will do the same on June.
On June 1, layer 1 blockchain platform Sui will unlock 65 million tokens worth $66 million to Series A and Series B investors, early contributors, Mysten Labs treasury, and community reserves. The project previously issued about $1 billion in crypto tokens in May.
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