Token unlocks release assets that were previously locked under fundraising agreements. Projects strategically schedule these releases to minimize market pressure and avoid token price drops.
That's why BeInCripto has selected the three most relevant token unlocks to keep an eye on this week. Check them out.
Immutable (IMX)
Unlock Date: Friday, November 29th
Number of tokens unlocked: 24.52 million IMX
Current circulating supply: 1.67 billion IMX
Immutable, a Layer-2 solution for scaling NFTs on Ethereum, raised $12.5 million in just one hour during its IMX token sale on CoinList in September 2021. In March 2022, the project secured $60 million in a funding round, followed by another $200 million from investors including ParaFi Capital, Declaration Partners, and Tencent Holdings.
This Friday (29), Immutable will release 24.52 million new IMX tokens into circulation. These tokens will support the development and growth of the project within the broader Immutable ecosystem.
IMX Unlock. Source: Tokenomist
Optimism (OP)
Unlock Date: Saturday, November 30th
Number of tokens unlocked: 31.34 million OP
Current circulating supply: 1.25 billion OP
Optimism, a Layer-2 scaling solution, improves transaction speeds and reduces costs on the Ethereum mainnet. Therefore, its OP token is vital for governance, allowing holders to vote on proposals and influence the development and management of the network.
On Saturday (30), Optimism will release 31.34 million OP tokens into circulation. Tokenomist (formerly TokenUnlocks) reports that these tokens will be received by core contributors and investors.
OP Unlock. Source: Tokenomist
1Inch (1INCH)
Unlock Date: Saturday, November 30th
Number of tokens unlocked: 98.74 million 1INCH
Current circulating supply: 1.27 billion 1INCH
1inch is a decentralized exchange aggregator that pools liquidity from multiple DEXs to provide users with the best trading rates. It simplifies trading by identifying the most efficient transaction routes, minimizing slippage and reducing fees.
Also on Saturday (30), 1inch will unlock nearly 100 million 1INCH tokens. These tokens are intended for developers, early investors, and venture capital funds.
1INCH Unlock. Source: Tokenomist
On (ON)
Unlock Date: Sunday, December 1st
Number of tokens unlocked: 64.19 million SUI
Current circulating supply: 2.84 billion SUI
Sui is a high-performance Layer-1 blockchain designed to improve network operations and security using a Proof-of-Stake consensus mechanism. Developed by Mysten Labs, the project was founded in 2021 by former Novi Research employees who were instrumental in creating the Diem blockchain and the Move programming language.
The SUI token supports governance, allowing holders to vote on important proposals and influence the direction of the platform. On December 1st, the upcoming token unlock will release a significant portion of tokens allocated to Series A and B participants, the community reserve, and the Mysten Labs treasury.
SUI Unlock. Source: Tokenomist
ZetaChain (ZETA)
Unlock Date: Sunday, December 1st
Number of tokens unlocked: 53.89 million ZETA
Current circulating supply: 517.85 million ZETA
ZetaChain is a decentralized blockchain platform designed to enable interoperability between different blockchain networks. The platform’s standout feature is that it enables cross-chain communication, allowing the exchange of tokens and data between blockchains such as Ethereum and Binance Smart Chain.
On December 1st, ZetaChain will unlock nearly 54 million ZETA tokens. These tokens will support several initiatives, including a user growth pool, an ecosystem growth fund, core contributor rewards, advisory roles, and liquidity incentives.
ZETA Unlock. Source: Tokenomist
Additionally, next week’s token unlocks will also include Cardano (ADA), Ethena (ENA), and dYdX (DYDX), among others, with a combined total value of over $540 million.
The article 5 Important Token Unlocks This Week appeared first on BeInCrypto Brasil.
