Major token unlocks scheduled this month

Immutable zkEVM, in collaboration with Polygon, is progressing toward a full launch in mid-2024. Purpose-built for gaming applications, this Layer 2 network offers gas-free minting and scaling tailored to Web3 game developers—a space where Australia has growing traction. With local indie studios and game publishers exploring NFT-based economies, this launch could amplify development momentum and encourage new partnerships.

One of the most closely watched unlocks comes from Aptos (APT), with over 20 million tokens becoming available. This represents approximately 2% of its total supply and is expected to be distributed to core contributors and early stage investors. Such a substantial release could lead to price volatility, particularly if recipients choose to liquidate their holdings in the open market. Australian traders should be cautious, especially given APT’s relatively high trading volume on local exchanges.

Aptos (APT) is set to release approximately 11.31 million APT tokens—roughly 2.5% of its circulating supply—on June 12. This release includes allocations to the Aptos Foundation, core contributors, investors, and the community, potentially introducing increased selling pressure amid broader market uncertainty.

For investors and traders in Australia, where participation in early-stage crypto projects is popular, it’s essential to stay informed about these unlock schedules. They present both opportunities and risks, particularly for those trading in the lead-up to and immediately following the unlock dates.

Trading updates such as these are closely tracked by crypto participants Down Under, especially as locally accessible tools and exchange options continue to grow. Given the regulatory clarity emerging in Australia’s digital asset sector, these listings and updates could have outsized effects compared with other regions, particularly in terms of liquidity inflow and project visibility within the country’s active retail investor base.

Upcoming protocol upgrades and hard forks

Several altcoins are approaching critical unlock events that could influence market dynamics in June 2024. Token unlocks are particularly relevant for Australian investors monitoring liquidity shifts and potential price volatility across mid-cap and emerging crypto assets.

Thorchain (RUNE), a decentralised liquidity protocol with a strong user base across the APAC region, is also set for a key chain upgrade. This will introduce added support for synthetic assets and improved validator dynamics. Given RUNE’s historical price sensitivity to network news, this upgrade could spark speculative trading activity. For Australian investors active on decentralised exchanges and seeking alternatives to centralised trading platforms, the changes may enhance utility and usage of the protocol in the local crypto scene.

Also notable is the Sui (SUI) unlock on June 1, where about 65 million tokens will be distributed to the Sui Foundation and other stakeholders, representing over 6.5% of circulating supply. For Australian DeFi participants leveraging the Sui network, this event may signal either increased community growth or potential dilution risk.

These unlocks could set short-term market direction, making it essential for traders and long-term holders alike in the Australian crypto market to keep a close watch on the liquidity impact and broader investor response.

Another significant update is coming from Arbitrum (ARB), with several Australian-based exchanges – such as Independent Reserve and BTC Markets – expanding support for ARB spot and derivative trading. This move underscores growing demand among Aussie traders for decentralised finance infrastructure tokens. Enhanced access to ARB across local platforms may drive domestic trading volumes, especially as Ethereum Layer 2 solutions remain a hot sector within Australia’s developer and investor community.

Notable exchange listings and trading updates

Smaller cap projects are also receiving a boost. Stargate Finance (STG) will soon launch on the Australian crypto exchange Swyftx, making it one of the few yield-driven DeFi tokens available through locally regulated channels. Swyftx users will gain direct access to STG/AUD markets, an appealing development for Australian traders interested in cross-chain liquidity protocols without relying on foreign exchanges that lack AUD on-ramps. This listing aims to enable more efficient price discovery while meeting growing interest in passive generation of returns.

As always, traders are advised to consider the potential for increased volatility surrounding newly listed tokens, especially during the first 72 hours post-launch. Australian investors seeking to capitalise on new market entrants should monitor order book depths, fees for AUD conversions, and any related announcements from their favoured trading platforms.

One of the more prominent listings involves Celestia (TIA), which will debut on a number of prominent centralised exchanges including Binance and Bybit in select trading pairs. With Celestia positioning itself as a modular data availability layer, this listing is highly anticipated by institutional and retail investors alike. Given the growing interest in scalable blockchain infrastructure, traders in Australia may see increased liquidity and greater ease in gaining exposure to TIA through globally supported platforms with AUD trading pairs.

These protocol upgrades and hard forks are not only critical for maintaining network health and evolution but can also serve as major price catalysts. Australian investors and traders are advised to closely track network announcements, as staking rewards, node requirements, and wallet compatibility may also change around these events.

Immutable (IMX), a popular Ethereum layer-2 scaling solution founded in Sydney, is also scheduled for a token unlock later this month. Around 10 million tokens are set to be released, primarily to developer allocations and ecosystem funds. While part of this release is aimed at funding growth and incentivising builders, the expanded token supply may impact the short-term price action, particularly for Australian investors closely monitoring local blockchain initiatives.

Polygon (MATIC) is undergoing a protocol upgrade as it transitions toward its 2.0 roadmap. The changes include enhancements aimed at improving scalability and interoperability by implementing zkEVM (zero-knowledge Ethereum Virtual Machine) features. These technical improvements are designed to make the chain more attractive for both developers and enterprises. Australian Web3 startups that rely on efficient, cost-effective Ethereum-compatible chains are paying close attention, as the upgrade may create new opportunities for DeFi and NFT projects.

Polkadot (DOT) is on the verge of launching its asynchronous backing framework, which will significantly improve parachain block inclusion speed and overall network throughput. This protocol-level enhancement could attract more enterprise and institutional developers to parachains targeting real-world use cases. With several Australian Web3 startups building on Polkadot’s substrate, this update may serve as a catalyst for ecosystem growth in the region.

Upcoming token unlocks and supply shifts

Arbitrum (ARB) is expected to deliver its Stylus upgrade, introducing support for programming languages like Rust and C++, enabling developers to deploy high-performance smart contracts more efficiently. For Aussie builders and dApp developers active in the Ethereum L2 space, this upgrade could expand the tooling ecosystem and attract fresh project deployment onto the Arbitrum chain. Enhanced scalability and tooling may also drive broader DeFi and NFT ecosystem participation.

This month also sees a number of significant protocol upgrades and hard forks across the altcoin ecosystem, each with the potential to affect token utilities, security enhancements, network performance and – importantly – price action. These technical developments are closely monitored by Australian traders and crypto developers, particularly those actively participating in staking or running nodes.

In addition, Optimism (OP), a major Ethereum scaling project, will unlock nearly 25 million tokens. These tokens will be distributed in alignment with the project’s ongoing rollout of delegated governance and ecosystem rewards. While the development community generally views this as a positive step towards decentralisation, the influx of new supply could cause temporary pricing fluctuations that traders should account for.

Optimism (OP) will unlock around 31.34 million tokens on June 30, representing approximately 3.6% of the total supply. These tokens are scheduled for release to core contributors and investors, which could influence OP’s price trajectory depending on market sentiment and demand dynamics.

Token unlocks often lead to spikes in volatility as investor expectations clash with new supply dynamics. Timing market entries or exits around these events can be critical for tactical trading strategies.

• June 1 – SUI: 65 million tokens unlocked (~6.5% of circulating supply)
• June 12 – APT: 11.31 million tokens unlocked (~2.5% of circulating supply)
• June 30 – OP: 31.34 million tokens unlocked (~3.6% of total supply)

June 2024 is poised to see several blockchain protocol upgrades and mainnet launches that could reshape the competitive landscape for altcoins, particularly for Australian investors following infrastructure-driven innovation. These technical developments can often precede price rallies or protocol adoption surges, making them highly relevant markers for strategic positioning.

Major network upgrades and protocol launches

As these updates roll out, Australian market participants may witness small-cap and ecosystem tokens gaining momentum, especially where functionality enhancements translate to real developer engagement or community adoption.

As the crypto ecosystem continues to mature, notable exchange listings and key trading updates are shaping market sentiment and offering new opportunities for Australian investors. During the coming weeks, several altcoins are expected to be listed on major exchanges, while others are preparing for increased trading accessibility through cross-chain integrations and regional exchange offerings.

In addition, Render Network (RNDR) is expanding its trading footprint through integration with decentralised exchange aggregator platforms, enabling streamlined RNDR swaps across Ethereum and Solana ecosystems. For technical traders in Australia, this cross-chain functionality could lead to arbitrage opportunities and increased use of synthetic RNDR markets for hedging and speculation.

The Cardano (ADA) network is preparing for its much-anticipated Chang hard fork, which is set to introduce a new phase of governance improvements under the Voltaire era. This evolution will give ADA holders enhanced voting rights and on-chain decision-making capabilities. The broader Cardano community views this as a pivotal shift towards full decentralisation, and many in the Asia-Pacific region, including Australia, have expressed optimism on dedicated forums and social channels. While historically, Cardano upgrades have seen modest price upticks, short-term volatility is to be expected, especially around implementation day.

Protocol upgrades often act as catalysts for ecosystem expansion, attracting liquidity, developers, and speculation in equal measure. Staying abreast of these shifts allows investors and project founders to align with networks poised for breakout activity.

• Arbitrum Stylus Upgrade: Enhanced smart contract languages; projected mid-June deployment
• Polkadot Asynchronous Backing: Increased block production efficiency; expected late June
• Immutable zkEVM Mainnet: Game-focused Ethereum scaling solution; full roll-out targeting Q2/Q3 transition

This month, several high-profile altcoins are set to undergo scheduled token unlocks, events that may significantly influence trading volumes and investor sentiment across the crypto landscape. These unlocks, which release previously locked tokens into circulation, often increase supply and have the potential to exert downward pressure on market prices if demand doesn’t scale accordingly.