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Token unlocking is the process of releasing Tokens that have been blocked according to the terms of capital raising. Projects carefully plan this release to avoid market pressure and prevent token price drops.
Here are three major Token unlocking events to watch for next week.
Avalanche (AVAX)
- Unlock date: November 18
- Number of unlocked Tokens: 1.67 million AVAX
- Current circulating supply: 407.35 million AVAX
Avalanche, a decentralized blockchain platform, is designed to provide superior performance and scalability for dApp developers and custom blockchain networks. Its native token, AVAX, plays a central role in the network, taking care of transaction fees, staking, and governance.
Next week, Avalanche will lead the Token unlocking market, with a key release scheduled for November 18. The project plans to unlock 1.67 million AVAX Tokens, worth more than 60 million USD. These Tokens will be allocated to the Avalanche Foundation, to support its ongoing development and expansion initiatives.
Oasis (ROSE)
- Unlock date: November 18
- Number of unlocked Tokens: 176 million ROSE
- Current circulating supply: 6.72 billion ROSE
Oasis Protocol, an open-source, decentralized blockchain platform, prioritizes privacy and scalability to provide versatile infrastructure for developers. With a focus on secure computing, the platform enables the creation of dApps that cater to privacy.
On November 18, Oasis will distribute 176 million newly unlocked ROSE Tokens to core contributors, funds, communities, partners, and reserves. This unlock could affect market sentiment around ROSE, as the additional supply could impact its short-term value. However, Holder ROSE remains confident that this event will not negatively affect the Token’s price.
“176 Million, accounting for 0.0176 total supply. Will be watching to see which tokens go on the exchange but from the end of 2023 until now, there has been no immediate effect on price fluctuations,” said user X commented.
Cardano (ADA)
- Unlock date: November 21
- Number of unlocked Tokens: 18.53 million ADA
- Current circulating supply: 37.74 billion ADA
Cardano, known for its commitment to sustainability, security, and scalability, plays a key role in decentralized application development and smart contracts. On November 21, the network plans to unlock more than 18 million ADA Tokens, with allocation towards staking and budget reserves.
Token cliff unlocks next week also include Ethena (ENA) and Apecoin (APE), totaling in excess of $123 million.
General Bitcoin News
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