5 Token Unlocks to Watch Next Week

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As a seasoned analyst with years of experience navigating the dynamic world of cryptocurrencies, I find myself closely watching these upcoming token unlock events. The impending releases from Cardano, Arbitrum, Apecoin, Ethena, and Space ID, among others, have the potential to significantly influence market trends.

Unlocking a token makes available tokens that were previously held back due to funding contracts. Projects carefully schedule these releases to lessen market impact and maintain stability in prices.

Here are four major token unlocks to watch next week.

Cardano (ADA)

  • Unlock date: December 16
  • Number of tokens unlocked: 18.53 million ADA
  • Current circulating supply: 35.82 billion ADA

Cardano, known for its emphasis on environmental friendliness, safety, and capacity to handle large transactions, plays a crucial role in advancing decentralized applications and smart contracts. On December 16th, the project is set to release approximately 18 million ADA tokens, earmarked for staking purposes and reserves within the treasury fund.

Arbitrum (ARB)

  • Unlock date: December 16
  • Number of tokens unlocked: 92.65 million ARB
  • Current circulating supply: 4.09 billion ARB

Arbitrum, created by Offchain Labs, is a top-tier Ethereum layer-2 platform that’s been operational since August 2021. It boasts significant support from investors like Lightspeed Venture Partners, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Mark Cuban, and Coinbase.

In approximately a week’s time, Arbitrum plans to distribute 92.65 million ARB tokens, worth approximately $91 million, among its team members, advisors, and investors.

Apecoin (APE)

  • Unlock date: December 17
  • Number of tokens unlocked: 15.60 million APE
  • Current circulating supply: 721.44 million APE

On December 17th, ApeCoin – the digital currency tied to Yuga Labs’ Ape universe – is set to release more than 15 million coins. This newly minted supply will be allocated between the treasury, founding members, employees, and key collaborators.

Previously, a significant decrease in APE’s value has been observed following major unlocks. Yet, given the current resurgence of interest in NFTs, the potential impact might be less intense this occasion. It is advisable for investors and traders to keep a close eye on this event as it could potentially have a substantial influence on the token’s price fluctuations.

Ethena (ENA)

  • Unlock date: December 18
  • Number of tokens unlocked: 12.86 million ENA
  • Current circulating supply: 2.93 billion ENA

Ethena, a digital currency system built on Ethereum, presents an autonomous cryptocurrency option separate from conventional banking systems. Additionally, it offers a saving tool called the “Internet Bond,” which is tied to the U.S. dollar and accessible for users worldwide.

Holders of ENA tokens can take part in making key decisions regarding the project. Come December 18th, more than 12 million ENA tokens set aside for fostering the ecosystem will be made available.

Space ID (ID)

  • Unlock date: December 22
  • Number of tokens unlocked: 78.49 million ID
  • Current circulating supply: 430.50 million ID

Space ID is a global, decentralized system for identifying individuals, resources, and decentralized apps (dApps) across numerous blockchains. It allows users to utilize a single domain name to signify their identity across various applications and networks.

On December 22nd, we will release approximately 78 million ID tokens, which will be allocated to the Space ID Foundation, the ecosystem fund, our team, the community, and various sale round participants.

In the upcoming unlocks next week, you’ll find Echelon Prime (PRIME) and Eigen Layer (EIGEN) alongside other tokens. The combined worth of these tokens is expected to surpass $270 million.

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2024-12-15 16:43