These ALTCOINS Are Not SAFE | Avoid These Crypto Coins

We talk about token unlocks every month. And we will stick to that tradition this June because lots of tokens are about to hit the market. And we do not want you caught unaware. 

We have some big altcoins this month, too. Token unlocks can significantly affect the prices of cryptocurrencies. It’s basic economic demand and supply principles. But whatever happens, you need to stay prepared. Tokens worth more than $500 million will be unlocked this June. 

The bulk of them will happen within the first week of June. Optimism (OP) unlocked 31.34 million OP ($79.9 million) on May 31. 1inch (1INCH) unlocked 98.7 million 1INCH on June 1. So, let’s look at other heavy unlocks happening within this month.

1) Aptos (APT)

Aptos plans to gradually release approximately $105.63 million worth of tokens into the market from May 2024 until October 2026. The layer1 POS blockchain will release 11.31 million tokens each month on the 11th and 12th. 

Their next unlock is on June 12, with 11.31 million APT tokens hitting the market. This is valued at $102.69 million. Here’s the breakdown:

  • The foundation will receive 1.33m APT tokens valued at $12.11m
  • The community will receive 3.21m APT tokens valued at $29.15m
  • Next, the Core contributors will receive 3.96m APT tokens valued at $35.94 million.
  • Finally, the investors will receive 2.81m APT tokens valued at $25.50 million. 

Source: X

Last month, they released the same amount, which represented 2.59% of the circulating supply, worth $94.78 million. As of now, APT is trading at $8.88. It’s yet to be seen how this unlock will impact the price, but we expect some initial volatility before things stabilize.

2) Immutable (IMX)

Next up is Immutable, a key player in blockchain gaming. On June 14, they will unlock 25.53 million IMX tokens valued at $56.42 million. The tokens are mostly allocated to ecosystem and project development:

  • Ecosystem development will receive 15.91 IMX tokens valued at $35.17 million. 
  • About 9.62 IMX tokens valued at $21.25 were reserved for the project development.

IMX has dipped by over 3% in the past month. And we might see a further price drop. However, with a market cap exceeding $3 billion, ImmutableX remains a strong contender in the NFT space. 

Source: X

Their efficient, cost-effective trading solutions on Ethereum make them a key figure in this market. With more partnerships and growth in the NFT space, they could see their ship steadying.

3) Starkware

Starkware has a gradual unlock strategy following community feedback. Initially, they planned to unlock 1.3 billion tokens on April 15 but changed it to a gradual monthly release. Their next token unlock is slated for June 15. The team will release 64 million tokens valued at $78 million. The allocation is for early contributors and investors:

  • Early contributors will receive around 33.57 STRK tokens valued at $40.95.
  • Investors will receive 30.43 STRK tokens valued at $37.13.

Source: X

By the end of 2024, Starkware will release around 580 million STRK tokens, with another 1.4 billion by the end of 2025—and 1.5 billion by the end of 2026. There are a lot of updates going on within this project. They recently introduced ZKThreads, a new scaling framework to prevent trapped funds and enhance DApp scalability.

There are other unlocks happening in June including Arbitrum. The project will release 92.65 million tokens on the 16th of June, valued at $105.62 million. They allocate these funds to the team, future advisors, and investors.  That’s it for June. With so many tokens hitting the market, you have to stay informed. And ready for any market movements.


The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.


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