Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.
Here are three major token unlocks to keep an eye on next week.
Aptos (APT)
- Unlock date: November 11
- Number of tokens unlocked: 11.31 million APT
- Current circulating supply: 519.93 million APT
Aptos is a Layer-1 blockchain designed to provide a secure and scalable infrastructure for decentralized applications. With a focus on security and performance, it incorporates innovative technologies to enhance the blockchain experience.
Despite being one of the most successful blockchain projects in recent years, Aptos has faced criticism from the crypto community for its tokenomics, which are heavily influenced by venture capital.
A major portion of APT tokens remains locked. On November 11, the project will distribute 11.31 million APT tokens to community members, core contributors, and investors.
Starknet (STRK)
- Unlock date: November 15
- Number of tokens unlocked: 64 million STRK
- Current circulating supply: 2.09 billion STRK
Starknet is developing a ZK-Rollup Layer-2 solution to scale decentralized applications on Ethereum. Following a successful investment round, the team introduced the STRK token, essential for decentralizing the network.
On November 15, the project will unlock 64 million STRK tokens, distributed to investors and early contributors.
Arbitrum (ARB)
- Unlock date: November 16
- Number of tokens unlocked: 92.65 million ARB
- Current circulating supply: 3.97 billion ARB
Arbitrum, developed by Offchain Labs, is one of the most popular Layer-2 solutions for Ethereum. The mainnet launched in August 2021, with funding from Lightspeed Venture Partners, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Alameda Research, entrepreneur Mark Cuban, and cryptocurrency exchange Coinbase.
Next week, Arbitrum will unlock 92.65 million ARB, currently valued at approximately $59.63 million. The team, advisors, and investors will receive these tokens.
Next week’s cliff token unlocks also include Cheelee (CHEEL), Ethena (ENA), and Apecoin (APE), among others, with a combined value surpassing $480 million.
The post 3 Token Unlocks to Watch Next Week appeared first on BeInCrypto.