-
Cryptocurrency markets brace for significant token unlocks next week, featuring major projects like Ethena, Immutable, and Cardano.
-
The collective value of tokens set to be released exceeds $120 million, potentially impacting market dynamics significantly.
-
“The unlocked tokens aim to fuel ecosystem growth and development while providing liquidity to the market,” a COINOTAG source stated.
Discover key insights into upcoming token unlocks for major cryptocurrencies exceeding $120 million that could affect market prices and trends.
Ethena (ENA)
- Unlock date: December 25
- Number of tokens unlocked: 12.86 million ENA
- Current circulating supply: 2.93 billion ENA
Ethena, a synthetic currency protocol utilizing the Ethereum network, provides a decentralized solution to financial transactions. One notable product is the “Internet Bond,” designed to offer users a dollar-pegged savings tool.
The upcoming token unlock scheduled for December 25 will release over 12 million ENA tokens, valued at approximately $13.73 million. These funds are earmarked for initiatives aimed at enhancing the protocol’s ecosystem.
ENA Unlock. Source: Tokenomist
Cardano (ADA)
- Unlock date: December 26
- Number of tokens unlocked: 18.53 million ADA
- Current circulating supply: 35.83 billion ADA
Cardano, recognized for its focus on sustainability and security, is pivotal in the realm of decentralized applications and smart contract integration. The project is set to announce the unlocking of 18.53 million ADA tokens on December 26, valued around $16.92 million.
These newly unlocked tokens are aimed at enhancing the platform’s treasury fund and promoting staking initiatives.
ADA Unlock. Source: Tokenomist
Immutable (IMX)
- Unlock date: December 27
- Number of tokens unlocked: 24.52 million IMX
- Current circulating supply: 1.69 billion IMX
As a robust Layer-2 solution for scaling NFTs on Ethereum, Immutable has made considerable strides in the blockchain space, having raised significant funding since its inception. On December 27, 24.52 million IMX tokens will be unlocked, with a total estimated value of $21.67 million.
This release aims to bolster ongoing development and fuel growth across the Immutable ecosystem, enhancing its position in the cryptocurrency market.
IMX Unlock. Source: Tokenomist
Next week’s major token unlocks will also encompass projects such as Yield Guild Games (YGG), Eigen Layer (EIGEN), and Artificial Superintelligence Alliance (FET), with a combined value projected to exceed $120 million.
Conclusion
As the market gears up for these significant token unlocks, investors and analysts alike should remain vigilant. The release of over $120 million worth of tokens could lead to notable fluctuations in prices and market sentiment. Focused attention on how these unlocks affect liquidity and market stability will be essential in the upcoming week.
