Token unlocks free up cryptocurrencies previously restricted under fundraising agreements, with projects timing these events to minimize market pressure and stabilize prices.
That’s why BeInCrypto has selected four major token unlocks to watch this week.
Cardano (ADA)
Unlock Date: December 16th
Number of tokens unlocked: 18.53 million
Current circulating supply: 35.82 billion ADA
Cardano, known for its focus on sustainability, security, and scalability, is key to powering decentralized applications and smart contracts. Therefore, this Monday, December 16, the network will unlock over 18 million ADA, allocated for staking and the treasury reserve fund.
ADA Unlock. Source: Tokenomist
Arbitrage (ARB)
Unlock Date: December 16th
Number of tokens unlocked: 92.65 million
Current circulating supply: 4.09 billion ARB
Arbitrum, developed by Offchain Labs, is a layer 2 (L2) solution for the Ethereum network. Launched in August 2021, the project is backed by Lightspeed Venture Partners, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Mark Cuban, and Coinbase.
In this way, Arbitrum will unlock 92.65 million ARB tokens, valued at approximately $91 million, with allocations to the team, advisors, and investors.
ARB Unlock. Source: Tokenomist
Apecoin (APE)
Unlock Date: December 17th
Number of tokens unlocked: 15.60 million
Current circulating supply: 721.44 million APE
ApeCoin, the native token of Yuga Labs’ Ape ecosystem, will unlock over 15 million tokens on December 17. These tokens will be distributed among the treasury, founders, team, and contributors.
Historically, the price of APE has dropped following major unlocks. However, with renewed interest in NFTs, the impact may be less severe this time around. Investors and traders should closely monitor this event as it could significantly impact the token’s price dynamics.
APE Unlock. Source: Tokenomist
Ethena (ENA)
Unlock Date: December 18th
Number of tokens unlocked: 12.86 million
Current circulating supply: 2.93 billion ENA
Ethena, a synthetic currency protocol based on Ethereum, offers a native cryptocurrency solution independent of the traditional banking system. It also provides global users with a dollar-denominated savings instrument known as an “Internet Bond.”
In this way, the ENA token allows holders to participate in governance decisions. On December 18, the project will unlock over 12 million ENA tokens allocated for ecosystem development.
ENA Unlock. Source: Tokenomist
Space ID (ID)
Unlock Date: December 22nd
Number of tokens unlocked: 78.49 million
Current circulating supply: 430.50 million ID
Space ID is a universal decentralized identity protocol that connects people, assets, and dApps across multiple blockchains. It allows users to use a single domain name to represent their identity across multiple applications and networks.
Thus, on December 22, the project will unlock more than 78 million ID tokens, distributing them among the Space ID Foundation, ecosystem fund, team, community, and participants of various sale rounds.
ID Unlock. Fonte: Tokenomist
As such, next week’s cliff token unlocks will also include Echelon Prime (PRIME) and Eigen Layer (EIGEN), among others, with a combined total value exceeding $270 million.
The article 5 Token Unlocks to Watch This Week appeared first on BeInCrypto Brasil.
