June promises to be another significant month for token unlocks in the world of crypto, as significant projects unlock over $650 million worth of tokens at current prices.
Much of that sum is made up of dual $100 million unlocks from Ethereum Layer 2 network Arbitrum and buzzy Layer 1 Aptos, though a wide variety of projects and protocols plan to unlock tokens in June. Here are all the significant unlocks coming up this month, according to Token Unlocks data.
Aptos: June 12, $100 million
Aptos, one of two projects largely staffed by former members of Facebook’s Libra currency project (the other one being Sui), will unlock another 2.59% of its circulating supply on May 12, 11.31 million tokens at a current value of around $100 million.
ImmutableX: June 14, $55 million
Web3 gaming firm ImmutableX will unlock 1.72% of its circulating supply, 25.5 million tokens at a current value of $55 million, on June 13. VanEck said last December that the release of Web3 games like Illuvium could catapult ImmutableX into a top 25 token by market cap in 2024.
StarkNet: June 15, $75 million
StarkNet, the Ethereum Layer 2 network which unveiled its 2024 roadmap in March and promised to enhance throughput and reduce transaction fees, will unlock 64 million tokens on June 15, representing 5.6% of the token’s circulating supply. The current value of the tokens is about $75 million.
Arbitrum: June 16, $103 million
Arbitrum, which recently became the first Layer 2 network to hit $150 billion total volume on Uniswap, will unlock 3.2% of its circulating supply on June 16. The 92.6 million tokens have a current value of about $103 million.
Space ID: June 22, $56 million
Space protocol, which aims to become a one-stop shop for different on-chain domains, will unlock another 18.3% of its circulating supply as part of its regular token unlock schedule on June 22. The 78.5 million tokens have a current value of about $56 million.
Optimism: June 30, $77 million
Optimism , which recently launched support for Layer 3 chains to join the Superchain, will unlock 31.3 million tokens worth about $77 million on June 30, representing 2.9% of the token’s circulating supply. Optimism recently passed the threshold of unlocking 25% of its tokens, with three-quarters remaining locked.
Other significant unlocks
- June 17: ApeCoin will unlock 2.5% of its circulating supply, 15.6 million tokens worth about $20 million at current prices.
- June 19: Pixels will unlock 7% of its circulating supply, 54 million tokens worth about $25 million at current prices.
- June 25: AltLayer will unlock 6.9% of its circulating supply, 105 million tokens worth about $36 million at current prices.
- June 30: Echelon Prime will unlock 4% of its circulating supply, 1.7 million tokens worth about $28 million at current prices.
Source: The Block
