5 cryptocurrencies to watch next week

Token unlocking involves issuing cryptocurrencies that were previously locked under the terms of the fundraiser. Projects plan these releases carefully to avoid market pressure and prevent a drop in cryptocurrency prices.

However, factors such as lack of liquidity or early profit taking by the investor can significantly affect the dynamics of the asset. Here are five major token openings to watch next week.

Aptos (APT)

• Opening date: June 12


• Number of tokens unlocked: 11.3 million APT


• Current circulating supply: 437.9 million APT

Aptos It is a layer 1 blockchain that aims to provide secure and scalable infrastructure for decentralized applications. Designed with a focus on security and performance, it leverages innovative technologies to enhance the blockchain experience.

While Aptos can be considered one of the most successful blockchain projects of the last two years. However, it often faces criticism from the crypto community for its tokens. Which is heavily influenced by venture capital. A large portion of APT tokens are also still locked. The 11.3 million APTs scheduled to be issued on June 12 will be distributed among the foundation, community members, major shareholders and investors.

Learn more: A Complete Guide to the Aptos (APT) Cryptocurrency and Its Network

Immutable (IMX)

• Opening date: June 14


• Number of tokens unlocked: 25.5 million IMX


• Current supply in circulation: 11.48 billion IMX

Immutable This is a layer 2 solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million during the IMX token sale on the CoinList platform in just one hour. Also in March 2022, it closed a $60 million investment round and secured an additional $200 million from investors including ParaFi Capital, Declaration Partners, and Tencent Holdings.

On June 14, IMX's circulating supply will increase by 25.5 million tokens. These newly unlocked tokens will be allocated to the development of the project and the broader immutable ecosystem.

Cyber

• Opening date: June 14


• Number of codes unlocked: 886,120 cyber


• Current supply in circulation: 22.3 million Cyber

Cyber (formerly CyberConnect) is a decentralized social graph protocol built on the BNB smart chain. It facilitates the creation and management of social links between users and projects on different platforms. The protocol's native token allows holders to purchase CyberIDs, vote on proposals to improve the protocol, and pay transaction fees.

Although the number of tokens that will be opened next week is lower than other projects, it represents approximately 4% of CYBER's circulating supply.

Starknet (STRK)

• Opening date: June 15


• Number of tokens unlocked: 64 million STARK


• Current supply in circulation: 1.3 billion STARK

get up Starknet Development of the ZK-Rollup Layer-2 solution to scale decentralized applications on Ethereum. After a successful investment round, the team presented the STRK token, essential for the decentralization of the network.

“The STRK token was born so that STARK-based scaling could happen in a more decentralized way. The design of the token helps Starknet operate and be managed by the community, and Provisions is a powerful way to do so. achieve,” said Diego Oliva, CEO. of the Starknet Foundation.

On June 15, the project will unlock 64 million STRK tokens, which will also be distributed to early investors and shareholders.

Arbitration (ARB)

• Opening date: June 16


• Number of tokens unlocked: 92.6 million ARB


• Current supply in circulation: 2.9 billion ARB

Arbitration, 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 open over 90 billion ARBs, currently valued at approximately $92.59 million. The team, advisors and investors will receive these tokens.

Learn more: How to use the Arbitrum network bridge to connect Ethereum coins?

Other openings next week include Moonbeam (GLMR), dYdX (DYDX), and Render (RNDR), worth a total of over $232.53 million. Although many view the token opening as bearish, a well-planned schedule can improve the long-term viability of the project. In line with development milestones and progress, unlocks will motivate team members, strengthen community engagement, and promote ecosystem growth.