Key Token Unlocks Next Week: Potential Impact on Ethena (ENA), Cardano (ADA), and Immutable (IMX) Prices

  • 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 token unlock

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 token unlock

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 token unlock

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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bitcoin Jesus Roger Ver Calls on Trump for Help Amid Legal Troubles and Tax Issues

In recent developments, Roger Ver, known as "Bitcoin Jesus,"...

Michael Saylor’s MicroStrategy Continues Its Bitcoin Accumulation for 12th Week

In a recent update from COINOTAG News dated January...

World Liberty Financial’s Impressive 19,400 ETH Staked on Lido: A Trump-Backed Cryptocurrency Breakthrough

On January 26, COINOTAG News reported that the cryptocurrency...

Bitcoin’s Bull Market: Insights from CryptoQuant CEO Ki Young Ju on Retail and Institutional Distribution Trends

According to COINOTAG News on January 26th, a significant...

Coinbase CEO Urges Overhaul of Token Listing Process in Major Industry Shift

Coinbase CEO Calls for Rethink of Token Listing Process --------------- NFA.
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img