Unlocking a token allows for the distribution of previously withheld tokens, which were tied to funding contracts. These scheduled events are carefully planned by projects to reduce market turbulence and maintain stable prices.
Here are four large token unlocks scheduled for next week.
ApeX (APEX)
- Unlock date: January 20
- Number of tokens unlocked: 10 million APEX
- Current circulating supply: 53.45 million APEX
The ApeX Protocol stands as a self-governing, non-custodial, and universally accessible platform designed for trading derivatives. This innovation was nurtured under the supervision of Davion Labs, a renowned incubator specializing in blockchain technology. Noteworthy investors, such as Dragonfly, Tiger Global, and Jump Trading, have provided their support to this project.
Starting on January 20th, there will be a release of 10 million APEX tokens, making up approximately 18.71% of the total existing APEX token supply in circulation.
Ethena (ENA)
- Unlock date: January 22
- Number of tokens unlocked: 12.86 million ENA
- Current circulating supply: 3.03 billion ENA
Ethena, a protocol for digital money based on Ethereum, provides an alternative to conventional banking systems. It also gives worldwide users access to a saving instrument denominated in US dollars, which is known as the “Bond of the Internet.
In simple terms, Ethena’s own token, ENA, empowers its holders to have a say in the decision-making process for the protocol. On January 22, more than 12 million ENA tokens, worth approximately $11 million, will be made available, with these resources earmarked for fostering the ecosystem.
Immutable (IMX)
- Unlock date: January 24
- Number of tokens unlocked: 24.52 million IMX
- Current circulating supply: 1.71 billion IMX
In a single hour during its IMX token sale on CoinList in September 2021, Immutable – a Layer-2 scaling solution for Non-Fungible Tokens (NFTs) on Ethereum – successfully raised $12.5 million. By March 2022, this figure increased significantly to $60 million through an investment round. This was followed by a further $200 million in investments from prominent firms like ParaFi Capital, Declaration Partners, and Tencent Holdings.
On the 24th of January, Immutable is planning to distribute approximately 24.52 million IMX tokens. These tokens have been earmarked for supporting project advancements and fostering expansion across the wider Immutable network.
AltLayer (ALT)
- Unlock date: January 25
- Number of tokens unlocked: 204.10 million ALT
- Current circulating supply: 2.31 billion ALT
AltLayer represents a decentralized system engineered for smoothly implementing second-layer scaling technologies like optimistic rollups and zero-knowledge (ZK) rollups. In simpler terms, it’s a framework that assists in the creation of efficient, Layer-2 solutions aimed at enhancing transaction speed and reducing congestion on the main blockchain network.
On January 25th, AltLayer plans to release approximately 240 million ALT tokens. These tokens will be allocated across various sectors such as the team, investors, advisors, the community, the treasury, and projects aimed at developing the ecosystem.
In next week’s unveiling of the cliff token, we will see the inclusion of Eigen Layer (EIGEN), Moca Network (MOCA), and Artificial Superintelligence Alliance (FET), along with some other notable entities. The total value of these additions is projected to surpass $220 million.
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2025-01-19 13:03