Over $3.3 billion worth of cryptocurrency tokens are set to be unlocked in June as vesting periods for numerous blockchain projects expire. This wave of releases marks a 32% drop from May’s $4.9 billion in token unlocks, according to data from vesting tracker Tokenomist.

Crypto projects commonly lock tokens for early contributors and investors to avoid mass sell-offs before a platform gains traction. These unlocks occur in two main formats: “cliff unlocks,” which release large portions all at once, and “linear unlocks,” which gradually distribute tokens over time. June’s scheduled unlocks include $1.4 billion through cliff unlocks and $1.9 billion via linear unlocks.

Among the biggest events is Metars Genesis (MRS), an NFT project set to unlock $193 million in tokens on June 21 to fund an AI partnership. The project has already released nearly $1 billion in tokens since March.

On June 1, Sui will release 44 million tokens valued at $160 million to its treasury, contributors, and community. Notably, over $70 million will go to Series B investors. To date, Sui has unlocked $12 billion worth of tokens, with $20 billion more awaiting future release.

Additional projects joining the June unlock spree include Fasttoken ($88M), Aptos ($61M), LayerZero ($71M), ZKsync ($49M), and Arbitrum. The anticipated influx of tokens has stirred discussions around market supply and potential selling pressure, as investors brace for short-term volatility.