- March 2024 will witness substantial amounts of token unlocks exceeding $2.919 billion.
- Arbitrum will unlock $2.212 billion in ARBs on March 16, constituting 87.20% of its total circulating supply.
- Other unlocks in the month include SUI, APT, APE, MANTA, PIXEL, IMX, ID, YGG, OP, and PRIME.
March 2024 is set to experience an astounding transformation in the crypto market with a huge amount of token unlocks. According to Token Unlocks data shared on Wu Blockchain’s X account, these unlocks include SUI, APT, ARB, APE, MANTA, PIXEL, IMX, ID, YGG, OP, and PRIME.
Reportedly, the unlocking tokens in March amount to a total of over $2.919 billion. Of the total unlocks, Arbitrum’s ARB sees the highest unlock value, unleashing $2.212 billion worth of ARBs, which marks 87.20% of the total circulating supply. As per Wu’s X post, ARB unlock on March 16 includes 673 million ARBs belonging to the team/advisors and 438 million to investors.
On March 3, the SUI token, currently trading at $1.66 with a daily surge of 3.55%, will unlock a substantial amount of 34.62 million tokens, valued at $58.15 million. The unlocking amount marks a supply ratio of 2.97%.
APT will unlock 24.84 million tokens worth $290.16 million on March 13, constituting 6.67% of the total supply. Currently trading at $11.83, APT saw a decline of 5.67% in the last 24 hours.
Another significant unlock event is scheduled for March 17, with the unlock of 15.60 million APE tokens. While these tokens are valued at $30.27 million, they constitute 2.61% of the total circulating supply. The token is currently priced at $1.92, marking a marginal increase of 0.95%.
Major tokens like MANTA, PIXEL, IMX, ID, YGG, OP, and PRIME will also unleash significant amounts of tokens into circulation. From March 18 to 31, these tokens will see notable unlocks, with Space ID’s ID token contributing the most.
On March 22, 78.49 million ID tokens worth $45.77 million will be unlocked.Moreover, March is ready to experience other notable developments, including Ethereum’s much-awaited Dencun upgrade. The days ahead will also witness key proposals and launches like the EcoFund’s $30 million proposal for Mantle.
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