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Token unlocking releases previously restricted Tokens related to fundraising agreements. Projects strategically orchestrate these events to reduce market pressure and stabilize prices.
Below are four major Token unlock events scheduled to take place 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 is a decentralized, non-custodial and permissionless platform for derivatives trading. The platform was developed under the guidance of Davion Labs, a blockchain-focused incubator, and is backed by notable investors such as Dragonfly, Tiger Global, and Jump Trading.
Next January 20, ApeX will unlock 10 million APEX Tokens, accounting for 18.71% of the current circulating supply.
Ethereum (ENA)
- Unlock date: January 22
- Number of Tokens unlocked: 12.86 million ENA
- Current circulating supply: 3.03 billion ENA
Ethena, a synthetic currency protocol on Ethereum, offers a solution that is independent of traditional banking. Ethena also provides global users with a USD savings tool called “Internet Bonds”.
Ethena’s native token, ENA, allows holders to participate in governance decisions for the protocol. On January 22, Ethena will unlock more than 12 million ENA Tokens, worth 11 million USD, to allocate for ecosystem development.
Immutable (IMX)
- Unlock date: January 24
- Number of Tokens unlocked: 24.52 million IMX
- Current circulating supply: 1.71 billion IMX
Immutable, a Layer-2 solution for scaling NFTs on Ethereum, raised $12.5 million in just one hour during the IMX Token sale on CoinList in September 2021. By March 2022, Immutable had raised raised $60 million in an investment round, followed by $200 million from investors including ParaFi Capital, Declaration Partners and Tencent Holdings.
On January 24, Immutable will issue 24.52 million IMX Tokens. These Tokens are allocated to support project development and drive growth within the vast Immutable ecosystem.
AltLayer (ALT)
- Unlock date: January 25
- Number of Tokens Unlocked: 204.10 million ALT
- Current circulating supply: 2.31 billion ALT
AltLayer is a decentralized protocol intended to support the implementation of Layer-2 scaling solutions, such as optimistic and zero-thought (ZK) rollups.
On January 25, AltLayer will unlock more than 240 million ALT Tokens. Allocation will be spread across various categories, including team, investors, advisors, community, treasury, and ecosystem development initiatives.
Cliff Token events next week also include Eigen Layer (EIGEN), Moca Network (MOCA), and Artificial Superintelligence Alliance (FET), with a combined total value exceeding $220 million.
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