Token Liberation frees up tokens that were previously locked up under fundraising agreements. Projects strategically schedule these events to reduce market pressure and stabilize prices.
Watch for these three major token release events happening next week.
Ethena (ENA)
Edit Date: December 25
Number of symbols edited: 12.86 million ENA
Current Circulating Supply: 2.93 Billion ENA
Ethena, a cryptocurrency protocol on Ethereum, offers a solution independent of traditional banks. It also offers global users a dollar-denominated savings instrument called “cyberbonds.”
The protocol’s native ENA token allows holders to participate in governance decisions. On December 25, Ethena will release over 12 million ENA worth $13.73 million, allocating it to the development of the ecosystem.
Cardano (ADA)
Edit Date: December 26
Number of tokens issued: 18.53 million ADA
Current Circulating Supply: 35.83 Billion ADA
Known for its focus on sustainability, security, and scalability, Cardano plays a major role in promoting decentralized applications and smart contracts. On December 26, the project will release over 18 million ADA tokens, worth $16.92 million, for staking and treasury reserve.
Imitable (IMX)
Opening date: December 27
Number of unlocked tokens: 24.52 million IMX
Current Circulating Supply: 1.69 Billion IMX
Immutable, a layer-2 solution for scaling non-fungible tokens (NFTs) on Ethereum, raised $12.5 million in just one hour during its IMX token sale on CoinList in September 2021. By March 2022, it had secured a $60 million investment round, followed by $200 million from investors including ParaFi Capital, Declaration Partners, and Tencent Holdings.
On December 27, Immutable will release 24.52 million IMX tokens. These tokens are dedicated to supporting project development and driving growth within the broader Immutable ecosystem.
Next week’s delayed token unlock also includes Yield Guild Games (YGG), Eigen Layer (EIGEN), and Artificial Superintelligence Alliance (FET), among others, with a total value exceeding $120 million.
