June is shaping up to be a turbulent month for the altcoin market as investors brace for a flood of over $2.7 billion in token unlocks, according to CryptoRank.io. Such events are notorious for injecting volatility, often leading to sharp sell-offs if investor sentiment turns risk-averse.
This time around, the sheer scale and specific distribution of these unlocks have raised significant concerns about near-term downward pressure on prices.
$2.7 Billion Worth of Tokens To Be Unlocked in June 🔓
The following notable token unlocks will happen in June:$SUI $206.33M$ZRO $64.29M$APT $58.52M$ZK $46.58M$SAROS $43.75M$VANA $37.02M$ARB $36.91M$ENA $35.23M$ZKJ $31.22M$OP $23.63M pic.twitter.com/29jbA3EPnt
— CryptoRank.io (@CryptoRank_io) May 30, 2025
June’s High-Stake Token Unlock Calendar
The most impactful token unlocks include: SUI – $206.33 million, ZRO (LayerZero) – $64.29 million, APT (Aptos) – $58.52 million, ZK (ZKsync) – $46.58 million, SAROS – $43.75 million, VANA – $37.02 million, ARB – $36.91 million, ENA – $35.23 million, ZKJ – $31.22 million, and OP – $23.63 million.
In total, over $3.2 billion worth of tokens will be unlocked, per Tokenomist, with $1.4 billion released via cliff unlocks and $1.8 billion through linear mechanisms. The cliff unlocks are particularly concerning as they release a bulk of tokens at once, potentially flooding the market and triggering rapid sell-offs.
Related: BTC, SOL, BNB, and ADA Funding Rate Flips Negative—Is the Crypto Market Bracing for a Drop?
Spotlight on Major Unlock Distributions
Zooming in on some of the major events, SUI’s unlock on June 2 will unleash 58.35 million tokens. A substantial portion of this—over $70 million—is earmarked for Series B investors, who are traditionally early backers and may be incentivized to take profits.
Meanwhile, LayerZero is preparing to release 25 million ZRO tokens to its core contributors and strategic partners. Aptos isn’t far behind, set to distribute 11.31 million APT tokens among team members, its community, and various investors. Perhaps most notably, ZKsync is gearing up for a massive release of over 760 million ZK tokens to insiders, a move that’s poised to significantly amplify supply-side pressure on the token.
Technical Tremors: What the Total2 Chart Signals
To gauge the broader market’s resilience against these upcoming unlocks, a look at the Total2 chart (Crypto Total Market Cap Excluding Bitcoin) on the daily timeframe offers some crucial clues. Currently, the Total2 market cap is hovering near the 0.382 Fibonacci retracement level, around $1.25 trillion, showing signs of lost momentum after hitting a local high.
Related: U.S. Government’s Crypto Power Play: How Altcoins Are Becoming a Key Asset
The immediate support level to watch is the 0.236 Fib line, approximately $1.21 trillion. If the market breaks below this floor, it could open the door for a slide towards the $1.14 trillion zone, which represents the baseline (0 level) of the current retracement.
Source: TradingView
Further technical indicators paint a cautious picture. The MACD line has dipped below its signal line, signaling that bullish momentum is fading. Meanwhile, the RSI, at around 55.14, remains in neutral territory but is trending downward from recent overbought conditions (around 60.87). This pattern suggests dwindling buying interest and a growing possibility of a bearish turn in the market.
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