Token Unlocks and Upcoming L2 Blockchain Events

DropsTab
Coinmonks
3 min readJun 24, 2024

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Token unlocks represent a significant event in the lifecycle of a cryptocurrency. Typically, these tokens are initially locked to ensure stability and encourage long-term growth within a project. The unlocking of tokens refers to the process where these previously restricted tokens are made available for trading or other uses. This can often lead to changes in market dynamics as the circulating supply increases, potentially impacting the token’s price. The infographic highlights the upcoming token unlocks among Layer 2 (L2) blockchains, scheduled between June 30 and July 16, 2024.

Upcoming Unlocks Among L2 Blockchains

1. Optimism ($OP)

  • Unlock Date: June 30
  • Details: 24,160,000 OP tokens will be unlocked.
  • Value: $41.17M
  • Percentage of Total Supply: 0.56%
  • Market Capitalization Impact: 2.15%

Optimism is a Layer 2 scaling solution for Ethereum, designed to improve transaction speed and reduce costs by leveraging optimistic rollups. This unlock will release tokens to investors and core contributors, potentially increasing market liquidity and influencing OP’s price dynamics.

2. Neon EVM ($NEON)

  • Unlock Date: July 8
  • Details: 53,050,000 NEON tokens will be unlocked.
  • Value: $30.72M
  • Percentage of Total Supply: 5.31%
  • Market Capitalization Impact: 60.98%

Neon EVM aims to bring Ethereum Virtual Machine (EVM) capabilities to Solana, enhancing its compatibility with Ethereum-based projects. The significant unlock for founders, advisors, service providers, and others marks a substantial increase in circulating supply, likely to affect NEON’s market dynamics profoundly.

3. Immutable ($IMX)

  • Unlock Date: July 12
  • Details: 27,920,000 IMX tokens will be unlocked.
  • Value: $40.95M
  • Percentage of Total Supply: 1.40%
  • Market Capitalization Impact: 1.85%

Immutable focuses on empowering scalable blockchain applications, particularly in gaming and digital assets. This token unlock, aimed at project and ecosystem development, will add a considerable amount to the market, with potential impacts on IMX’s trading behavior and price stability.

4. StarkNet ($STRK)

  • Unlock Date: July 15
  • Details: 64,410,000 STRK tokens will be unlocked.
  • Value: $43.67M
  • Percentage of Total Supply: 0.64%
  • Market Capitalization Impact: 4.95%

StarkNet utilizes zk-rollups to enhance Ethereum’s scalability and privacy. The upcoming unlock for investors and early contributors could lead to notable market activity, given the substantial number of tokens being introduced into circulation.

5. Arbitrum ($ARB)

  • Unlock Date: July 16
  • Details: 93,650,000 ARB tokens will be unlocked.
  • Value: $72.67M
  • Percentage of Total Supply: 0.94%
  • Market Capitalization Impact: 2.90%

Arbitrum offers another Layer 2 scaling solution for Ethereum, focusing on speed and low transaction costs through its rollup technology. This significant unlock for team, advisors, and investors is expected to influence ARB’s market liquidity and trading patterns.

Token unlocks are pivotal moments for any cryptocurrency project, often leading to increased volatility and trading activity. The upcoming unlocks in the L2 blockchain space, as illustrated by the infographic, highlight substantial movements across various projects. Investors and market participants should monitor these events closely, as they can offer both opportunities and risks in the dynamic cryptocurrency market.

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Coinmonks

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