5 Token Unlocks to Watch This Week: Big Moves Ahead for ADA, YGG, and More
Token unlocks, which release previously locked tokens into circulation, can significantly impact a project’s price and market dynamics. While no massive unlocks are scheduled this week, here are five key events to keep an eye on.
- Unlock date: October 22
- Tokens unlocked: 18.53 million ADA
Cardano, known for its focus on scalability and security, will unlock over 18 million ADA, boosting its staking and treasury fund. This move strengthens the network’s long-term development and staking ecosystem.
2. SpaceID ($ID )
- Unlock date: October 22
- Tokens unlocked: 18.49 million ID
Space ID, a decentralized identity protocol, will unlock 18.49 million ID tokens for its foundation, ecosystem fund, and community. The project connects identities across various blockchains, aiming to drive cross-chain compatibility.
3. EigenLayer ($EIGEN )
- Unlock date: October 22
- Tokens unlocked: 1.29 million EIGEN
Ethereum’s restaking protocol EigenLayer will release 1.29 million tokens. With these tokens dedicated to community initiatives, the unlock is unlikely to cause major price shifts.
4. Ethena (#ENA )
- Unlock date: October 23
- Tokens unlocked: 12.86 million ENA
Ethena, an Ethereum-based synthetic currency protocol, will release 12.86 million ENA tokens for ecosystem development, furthering its goal of offering a decentralized dollar-denominated savings instrument.
5. Yield Guild Games (YGG)
- Unlock date: October 27
- Tokens unlocked: 14.08 million #YGG
The play-to-earn platform Yield Guild Games will unlock 14.08 million tokens for distribution among the community, founders, and investors, driving growth in its gaming ecosystem.
This week’s unlocks also include smaller events for Galxe (GAL), Acala (ACA), and Euler (EUL), with a combined value exceeding $99 million.
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