Upcoming token unlocks are set to impact the crypto market next week, as data from Token Unlocks, reported by PANews, reveals significant releases for several major assets, including Cardano (ADA) and Ethena (ENA). Here's a closer look at the details:
Cardano (ADA): On December 26 at 8:00 AM UTC, approximately 18.53 million ADA tokens will be unlocked, representing 0.05% of the circulating supply and valued at roughly $16.6 million.
Ethena (ENA): A scheduled unlock on December 25 at 3:00 PM UTC will release around 12.86 million tokens, equating to 0.44% of its circulating supply and valued at approximately $13.5 million.
Eigenlayer (EIGEN): Early on December 25, at 3:00 AM UTC, around 1.29 million tokens will be unlocked, amounting to 0.61% of the circulating supply with an estimated value of $4.9 million.
Coin98 (C98): On December 23 at 7:00 PM UTC, roughly 16.53 million tokens will be unlocked, comprising 1.88% of the circulating supply and valued at $2.7 million.
Hooked Protocol (HOOK): Scheduled for December 25 at 8:00 AM UTC, this unlock will release about 4.17 million tokens, representing 1.97% of the circulating supply and valued at approximately $1.7 million.
Implications for the Market
These unlock events often influence token liquidity, supply dynamics, and market sentiment. While some traders anticipate price volatility during such releases, others see opportunities for strategic accumulation. The ADA and ENA unlocks stand out due to their significant market valuations, while assets like C98 and HOOK may experience sharper movements due to their higher percentages of supply released.
Key Considerations for Traders
Investors should closely monitor these unlocks to identify potential trading opportunities or risks. Historical data suggests that significant token unlocks can lead to both sell-offs and bullish accumulation, depending on market conditions and sentiment. Staying updated and analyzing the impact of these events on each tokenโs price action could help traders make informed decisions.
