Token unlocks allow the release of tokens that were previously restricted under specific fundraising agreements. By strategically planning these events, projects aim to reduce market pressure and stabilize prices.

Keep an eye out for three major token unlocks next week!

Athena (THE)$ENA

Unlock date: December 25

  • Number of tokens to be opened: 12.86 million ENA

  • Current circulating supply: 2.93 billion ENA

Ethena is a synthetic currency protocol running on the Ethereum network, offering a solution independent of traditional banking. It also offers a dollar-based savings instrument called “Internet Bond” for global users.

The protocol’s native token, ENA, gives holders the opportunity to participate in governance decisions. On December 25, Ethena will unlock over 12 million ENA tokens, which will be used for ecosystem development. The total value of these tokens is around $13.73 million.

Cardano (ADA)$ADA

Unlock date: December 26

  • Number of tokens to be opened: 18.53 million ADA

  • Current circulating supply: 35.83 billion ADA

Cardano is known for its strong focus on sustainability, security, and scalability. It has made significant contributions to the development of decentralized applications and smart contracts. On December 26, Cardano will unlock over 18 million ADA tokens, which will be allocated for staking and treasury reserves. The total value of the tokens is estimated at $16.92 million.

Immutable (IMX)$IMX

Unlock date: December 27

  • Number of tokens to be opened: 24.52 million IMX

  • Current circulating supply: 1.69 billion IMX

Immutable offers a Layer-2 solution for scaling NFTs on Ethereum. In September 2021, $12.5 million was raised in just one hour during the IMX token sale on CoinList. In March 2022, a $60 million investment round was held and a total of $200 million was secured from major investors such as ParaFi Capital, Declaration Partners, and Tencent Holdings.

On December 27, Immutable will release 24.52 million IMX tokens. These tokens will be used to support project development and further grow the Immutable ecosystem.