As a seasoned analyst with a knack for navigating the complex crypto landscape, I find myself intrigued by the impending token unlock events scheduled for next week. The upcoming releases of Ethena (ENA), Cardano (ADA), and Immutable (IMX) tokens could potentially reshape the market dynamics, given the substantial quantities involved.
Unlocking tokens makes previously restricted ones available for free, which were tied to fundraising contracts. The projects plan these releases tactically to alleviate market strain and maintain stable prices.
Watch for these three major token unlocks happening next week.
Ethena (ENA)
- Unlock date: December 25
- Number of tokens unlocked: 12.86 million ENA
- Current circulating supply: 2.93 billion ENA
As an analyst, I’d rephrase that statement like this: I work with Ethena, a groundbreaking financial protocol operating on Ethereum. Unlike traditional banking systems, it provides an autonomous solution. Furthermore, it offers a worldwide savings instrument, the “Internet Bond,” which is tied to the U.S. dollar.
Through its native token ENA, participants are able to partake in making governance choices. On Christmas Day, Ethena plans to release more than 12 million ENA worth approximately $13.73 million, earmarked for advancing the ecosystem.
Cardano (ADA)
- Unlock date: December 26
- Number of tokens unlocked: 18.53 million ADA
- Current circulating supply: 35.83 billion ADA
Cardano, which prioritizes sustainability, security, and scalability, is instrumental in driving the development of decentralized applications and smart contracts. On December 26th, the project will release over 18 million ADA tokens, worth approximately $16.92 million, earmarked for staking and reserves within the treasury fund.
Immutable (IMX)
- Unlock date: December 27
- Number of tokens unlocked: 24.52 million IMX
- Current circulating supply: 1.69 billion IMX
In September 2021, Immutable, a scaling solution for NFTs on Ethereum, managed to raise $12.5 million within an hour during its token sale on CoinList. By March 2022, this figure had increased significantly, reaching $60 million in investment rounds. This was followed by a further $200 million from investors such as ParaFi Capital, Declaration Partners, and Tencent Holdings.
December 27 marks the release of approximately 24.52 million IMX tokens by Immutable. These tokens have been earmarked to foster project development and stimulate expansion across the broader Immutable platform.
In the upcoming week’s unveiling of our cliff token, you’ll find Yield Guild Games (YGG), Eigen Layer (EIGEN), and Artificial Superintelligence Alliance (FET) among other notable entities. The total worth of these inclusions is estimated to surpass $120 million.
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2024-12-22 18:08