New data released today by crypto market analyst Phoenix Group listed the top upcoming token unlocks this week. As reported in the data, multiple major token unlocks are scheduled from today, Monday, June 16th to Sunday, June 22nd.
Top 10 Token Unlocks This Week
Top on this list is Arbitrum (ARB), which plans to unlock 92.63 million ARB tokens today June 16. The amount of tokens to be unlocked is worth $31.41 million, representing 0.93% of the circulating supply.
Next is Vana (VANA). The cryptocurrency plans to release 5.19 million VANA tokens (today June 16) worth $27.77 million, accounting for 4.33% of total supply.
Zksync (ZK) is in the third place as it is scheduled to unlock its 770 million ZK tokens tomorrow, June 17. The tokens to be released are valued at $39.37 million, accounting for 3.67% of tokens in circulation.
ApeCoin (APE) takes the fourth position. It plans to release 15.38 million APE tokens worth $10.47 million, representing 1.54% of token supply, tomorrow, June 17th.
Fifth on the list is Saros (SAROS), which is scheduled to unlock 213.93 million SAROS tokens valued at $44.78 million, representing 2.14% of the circulating supply.
Other major crypto assets that will also unlock their tokens this week include Layerzero, Lista DAO, Plume Network, and Space ID.
Layerzero (ZRO) is set to unlock a total of 24.68 million ZRO tokens, amounting to $49.21 million, which is 2.47% of ZRO’s supply on June 20.
Lista DAO (LISTA) will release 33.44 million LISTA tokens (4.29% of its supply), worth $7.21 million on June 20.
Plume Network (PLUME) will unlock 108.34 million PLUME tokens (1.08% of its supply) worth $11 million on June 21.
Lastly, Space ID (ID) will release 72.65 million ID tokens (3.64% of its supply) valued at $12.23 million on June 22.
Strategies to Unlock Opportunity
Investors and traders who own any of the above assets or are planning to trade them soon need to be prepared to counter the impact of such unlock events. Token unlock is a crucial activity in the cryptocurrency industry as it releases previously restricted coins into the open market, providing liquidity for intended crypto projects.
Many crypto projects often decide to restrict coins acquired during public sales for a particular period. This strategic move is normally made to prevent early investors from quickly selling their coins and triggering immediate market downward movements.
However, token unlocks can cause increased selling pressure and trigger a price downturn for affected assets. Investors planning to trade an asset during a period near or after an unlock event should arm themselves with essential strategies.
First, they need to have a good understanding of the project’s fundamentals and reasons behind the token unlock. This knowledge provides them with a good understanding of the potential effect of the event on an asset’s price.
Also, before conducting any trades, they should have a well-crafted trading plan and a strong risk management strategy. Lastly, they should be prepared for volatility and be ready to adapt their trading plans depending on prevailing situations.
