Watch out for these 8 Massive token unlocks in June 2023
Discover the top eight biggest token unlocks happening in June 2023. Learn about why token unlocks are important, the exact volume, and the day they will happen.
Token unlocks are crucial events in the life of crypto projects. They represent the moment when previously locked tokens, often held by the project's team or early investors, become available for trading. This can lead to increased market volatility due to the potential influx of new tokens. Therefore, it's important for crypto enthusiasts, traders, and investors to keep an eye on these events.
In June 2023, we're anticipating significant token unlocks from several prominent projects. Let's take a closer look at these tokens and their unlocks.
TL;DR:
- Aptos unlocking 4.54 M $APT on 12.06. ($36.30 M)
- Filecoin unlocking 5.56 M $FIL on 14.06. ($23.80 M)
- Blur unlocking 198.45 M $BLUR on 14.06. ($88.06 M)
- BitDAO unlocking 187.51 M $BIT on 15.06. ($91.80 M)
- Uniswap unlocking 8.33 M $UNI on 16.06. ($39.80 M)
- Apecoin unlocking 15.60 M $APE on 17.06. ($49.53 M)
- Lido unlocking 7.92 M $LDO on 18.06. ($18.82)
- Avalanche unlocking 9.54 M $AVAX on 21.06. ($134.94 M)
Top Token Unlocks in June
Aptos ($APT)
Aptos, a novel layer-1 blockchain built by former Meta employees, is set to unlock 4.54 million APT tokens on June 12th. Valued at $36.30 million, this represents 2.27% of its market cap. Aptos is a recently released project aiming for a safe, scalable, and upgradeable proof-of-stake infrastructure with a user-centered design
Filecoin ($FIL)
Filecoin, a decentralized peer-to-peer network that allows users to store their data securely, is set to unlock 5.56 million FIL tokens on June 14th. Worth $23.80 million, this constitutes 1.29% of its market cap. Filecoin incentivizes participation and rewards honest actors, making the web more secure and efficient
Blur ($BLUR)
Blur, an NFT marketplace and Ethereum-based aggregator platform that recently surpassed OpenSea in sales volume has a significant unlock of 198.45 million BLUR tokens scheduled for June 14th. This unlock, valued at $88.06 million, represents a substantial 40.61% of its market cap.
BitDAO ($BIT)
BitDAO, a decentralized autonomous organization aiming to support builders of the decentralized economy, will unlock 187.51 million BIT tokens on June 15th. Valued at $91.80 million, these tokens represent 10.28% of BitDAO’s market cap. This project is governed by BIT token holders and aims to fund the development and adoption of BIT-powered products.
Uniswap ($UNI)
Uniswap, a decentralized crypto asset exchange built on the Ethereum blockchain, has an unlock of 8.33 million UNI tokens set for June 16th. Worth $39.80 million, this represents 1.11% of its market cap. The unlock from Uniswap might influence the $UNI price to some extent, but considering its already big market cap this change should not be too drastic.
ApeCoin ($APE)
ApeCoin ($APE) APE is an ERC-20 token introduced by Yuga Labs, the team behind the highly acclaimed NFT collections, Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC).
An unlock of 15.6M $APE, which represents a value over $49.53 in the current market conditions, is set on 17.06.
Lido ($LDO)
Lido is a platform that provides a user-friendly staking solution, allowing individuals to easily stake their assets without any minimum requirements. It supports multiple blockchain networks, including Polygon, Solana, Polkadot, and Ethereum.
An unlock of 7.92 M LDO, amounting to $18.82 M, or 0.90% of the market cap, is due on June 18th.
Avalanche ($AVAX)
Avalanche is a decentralized platform designed to support the creation of custom blockchain networks, digital assets, and decentralized applications (dApps). Its key focus is on providing high scalability, low transaction fees, and rapid confirmation times.
A massive unlock of over 134 million USD worth of $AVAX (2.77% of the current market cap) will be hitting the market on 21.06.
The Bottom Line
The upcoming token unlocks in June 2023 are worth paying attention to. They could potentially lead to increased market activity and offer opportunities for informed traders and investors. Once the tokens are unlocked, inevitably some percentage of them is going to flow directly into the market, which increases the circulating supply and therefore may reduce the price per token. Of course, nothing in the markets is absolute and this speculation may as well be priced in before the tokens even unlock.
As always, it's crucial to stay updated on these events and to perform your own due diligence when trading or investing in the crypto market.
