With the increasing bearish pressure on the market, traders are anxious over every source of volatility. Next week, several major tokens, including Aptos, Flare, and Arbitrum, will release millions of new tokens into circulation. These token unlocks increase supply, which puts further pressure on the price.
On Saturday, March 8, the crypto markets dropped 2.54%, with Bitcoin falling 3.34% to $86,179. This news comes ahead of several major token unlocks scheduled for next week. While these are regularly scheduled unlocks, they are still a potential source of selling pressure due to increased token supply.
Next week’s unlocks include Flare, Aptos, Arbitrum, Paraswap, and Apecoin. While some of these funds will go to the community, most of the tokens are designated for insiders.
Next Week’s Unlocks: Flare, Aptos, and Arbitrum
EMV-compatible layer one chain Flare is the first in line, with $28.76 million in tokens hitting the markets on Monday. The potential impact of this event is significant, as the tokens represent 2.89% of the float, or tokens currently on the market.
A large part of this amount, or $12.13 million in tokens, will go to FlareDrop, which rewards active members of the community. The effect of this will depend on how the community reacts to the rewards and whether they decide to cash out or keep the tokens.
Another scalable layer one chain, Aptos, is among the major unlock events. On Wednesday, March 13, $66.39 million in Aptos tokens will hit the markets. $18.84 million will go to the community, while the rest will go to core contributors and insiders.
This may induce volatility, especially if insiders decide to sell their tokens. Moreover, the unlocked tokens represent 1.92% of the float, a major figure in liquidity-starved markets like altcoins.
Ethereum scaler Arbitrum will be the final major unlock event this week. On Sunday, March 16, Arbitrum insiders will receive $35.85 million, split between early investors and advisors at OffchainLabs. Its impact will likely be significant, as the tokens going to insiders amount to 2.11% of the Arbitrum market float.
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