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Crypto Market Braces for $740 Million Token Unlock Wave

Published 06/18/2024, 04:30 PM
Updated 06/18/2024, 05:15 PM
Crypto Market Braces for $740 Million Token Unlock Wave
ENAE
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STRA
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OPMP
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ARB
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  • Over $740 million in crypto tokens from various projects to unlock in 30 days.
  • Large token unlocks can negatively impact prices amid weak buying power.
  • Investors are closely monitoring the impact of unlocks on market volatility.

More than $740 million worth of tokens from various crypto projects, including Aptos, Arbitrum, Optimism, and Starknet, are set to unlock in the next 30 days. This substantial release raises significant market implications, as reported by Token Unlocks, a vesting analytics platform.

XaI’s XAI token will lead the unlocks with $109 million worth of tokens becoming available. Aptos’ APT token follows closely with an $85 million unlock, while Arbitrum’s ARB token will see $80 million worth of tokens released.

Other notable unlocks include OP Mainnet’s OP token at $61 million, Sui’s SUI token at $58 million, and Immutable’s IMX token at $53 million. Starknet’s STRK token and Ethena’s ENA token will also see significant releases valued at $52 million and $37 million, respectively.

According to Kelly Ye, a portfolio manager at Decentral Park Capital, the current cycle is characterized by low float and high Fully Diluted Val…

The post Crypto Market Braces for $740 Million Token Unlock Wave appeared first on Coin Edition.

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