Arbitrum

Immutable

Aptos

Ethena

The upcoming month is going to be super interesting as more than $700 million worth of tokens are set to be unlocked, meaning more tokens will be added to circulation. According to a recent report byWuBlockchain, cryptocurrency projects including 1Inch (1INCH), dydx (DYDX), Sui (SUI), Ethena (ENA), Aptos (APT), StarkNet (STRK), and many others are scheduled to unlock over $739 million between June 1, 2024, and June 27, 2024. These tokens’ price may fall in June 2024 
With this massive token unlock event in June 2024, there is speculation that the prices of these tokens might experience a decline due to the sudden increase in supply.&nbsp;
The first token scheduled to unlock is 1INCH on June 1, 2024. According to the data, this project will unlock a notable 98.74 million tokens worth $45.35 million, which is nearly 8.5% of its total circulating supply. On the same day, DYDX, SUI, and ENA are also scheduled for token unlocks. DYDX will unlock $69.33 million worth of tokens, SUI will unlock $67 million worth of tokens, and ENA will unlock $48 million worth of tokens.
Following the first day of token unlocks, the second day is scheduled for June 12, 2024. This is when Aptos (APT) will unlock a massive $105.5 million worth of tokens, which is 2.6% of its total circulating supply. After this unlock, on June 14, 2024, Immutable (IMX) will add $58.72 million worth of tokens to circulation.
On June 16, 2024, Arbitrum (ARB) will unlock a massive $111 million worth of tokens, which is 3.2% of its total circulating supply. Additionally, APE, PIXEL, and STRK are set to unlock $20.5 million, $22.53 million, and $80 million worth of tokens respectively. Why crypto project unlock tokens after the project launch? 
The primary reason behind these<a href="https://news.todayq.com/376-million-of-tokens-set-to-unlock-next-week-report/" rel="noopener noreferrer nofollow"> token unlocks</a> is to establish a controlled and stable token distribution process that aligns incentives and ensures the project’s long-term success. Crypto projects unlock their tokens at regular intervals to gradually distribute them, incentivize participation, build community confidence, fund project development, and enforce vesting periods to prevent immediate selling.
However, token unlocking can impact token prices. If a large number of tokens are unlocked and immediately sold, the increased supply can lead to a decrease in price. Conversely, if tokens are unlocked gradually and used for project development or held by long-term investors, it can positively influence price stability and growth.

ENA, 1INCH, APT sets unlock millions of tokens, price dump incoming?

Todayq News

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