Token launches free up tokens that were previously locked up under fundraising agreements, with projects timing these events to reduce market pressure and stabilize prices.
Here are four major token launches to watch next week.
Cardano (ADA)
Release Date: December 16
Number of tokens to be issued: 18.53 million ADA
Current Circulating Supply: 35.82 Billion ADA
Known for its focus on sustainability, security, and scalability, Cardano plays a pivotal role in driving decentralized applications and smart contracts. On December 16, the project will launch over 18 million ADA tokens, intended for staking and treasury reserve.
Arbitrum (ARB)
Release Date: December 16
Number of tokens to be issued: 92.65 million ARB
Current Circulating Supply: 4.09 Billion ARB
Arbitrum, developed by Offchain Labs, is the leading layer 2 solution for Ethereum. Launched in August 2021, it is backed by Lightspeed Venture Partners, Polychain Capital, Ripple Capital, Redpoint Ventures, Pantera Capital, Mark Cuban, and Coinbase.
Next week, Arbitrum will release 92.65 million ARB tokens, worth around $91 million, with allocations to the team, advisors, and investors.
Apecoin (APE)Opening date: December 17
Number of unlocked tokens: 15.60 million APE
Current Circulating Supply: 721.44 Million APE
Bitcoin, the native token of Yuga Labs’ Ape system, will unlock over 15 million tokens on December 17. These tokens will be distributed among the treasury, founders, team, and contributors.
Historically, APE price has declined after large openings. However, with the renewed interest in NFTs, the impact may be less severe this time around. Investors and traders should keep a close eye on this event, as it could significantly impact the token’s price dynamics.
Ethena (ENA)Opening date: December 18
Number of unlocked tokens: 12.86 million ENA
Current Circulating Supply: 2.93 Billion ENA
Ethena, an industrial currency protocol on Ethereum, offers a native cryptocurrency solution independent of traditional banks. It also provides global users with a dollar-denominated savings instrument known as “cyberbonds.”
The ENA token allows its holders to participate in governance decisions. On December 18, the project will unlock over 12 million ENA tokens dedicated to the development of the ecosystem.
Space Identifier (ID)Opening date: December 22
Number of unlocked tokens: 78.49 million ID
Current Circulating Supply: 430.50 Million ID
Space ID is a global decentralized identity protocol that connects people, assets, and dApps across multiple blockchains. It enables users to use a single domain name to represent their identity across different apps and networks.
On December 22, the project will unlock over 78 million ID tokens, distributing them among the Space ID Foundation, Ecosystem Fund, team, community, and participants in several sale rounds.
Token unlocks next week also include Echelon Prime (PRIME) and Eigen Layer (EIGEN) among others, with a total value exceeding $270 million.
