Arbitrum, Aptos, Starkware, SAND lead $220 million token unlocks next week

Token unlocks data on Friday reveals that the crypto market will see $220 million worth of tokens entering circulation next week amid signs of recovery from the recent market crash. This marks the second consecutive week of unlocks greater than $200 million.

Crypto market to witness $220 million token unlocks

The crypto market will see certain projects releasing tokens into circulation next week, including Aptos (APT), The Sandbox (SAND), Arbitron (ARB), Starknet (STRK), CYBER, Ethena (ENA), Render (RENDER), io.net (IO), Moonbeam (GLMR), Nym (NYM), Euler (EUL), and Forta (FORT). Token Unlocks data shows these projects will release tokens worth $220 million into their circulating supply.

The projects with the highest release include APT, SAND, and ARB; each seeing unlocks value worth $64 million, $54 million and $53 million, respectively. 

Aptos (APT) is up 2% in the past 24 hours, suggesting that investors' optimism about the project may have reignited.

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ARB has also been up over 5% following the launch of Franklin Templeton's Blockchain Funds on its network, registering itself as one of Ethereum's top Layer 2s.

Meanwhile, several other tokens are witnessing further unlocks to add to their previous circulating supply. These tokens include ENA, RENDER, CYBER, FORT, and IO. 

Ethena (ENA) rose on Wednesday following the launch of its USDe stablecoin on the Solana network but is currently down 0.32% as the unlock draws near. The project will unlock tokens worth 0.82% of its current circulating supply.

APE has also seen a steady release of new supply entering circulation over the past weeks and will unlock $9.52 million worth of its token supply.