[ad_1]
Token unlocking releases Tokens that were previously restricted under the capital raising agreement. Projects plan releases strategically to reduce market pressure and prevent token price declines.
Here are three major token unlocks to watch out for next week.
Immutable (IMX)
- Unlock date: November 29
- Number of Tokens unlocked: 24.52 million IMX
- Current circulating supply: 1.67 billion IMX
Immutable, a Layer-2 solution for scaling NFTs on Ethereum, raised $12.5 million in just one hour in the IMX Token sale on CoinList in September 2021. By March 2022, it is expected The project raised $60 million in an investment round, followed by an additional $200 million from investors such as ParaFi Capital, Declaration Partners, and Tencent Holdings.
On November 29, Immutable will release 24.52 million new IMX Tokens into circulation. These Tokens will support project development and growth within Immutable’s vast ecosystem.
Optimism (OP)
- Unlock date: November 30
- Number of Tokens unlocked: 31.34 million OP
- Current circulating supply: 1.25 billion OP
Optimism, a Layer-2 scaling solution, enhances transaction speeds and reduces costs on the Ethereum mainnet. OP tokens are important for governance, allowing holders to vote on proposals and influence the development and management of the network.
On November 30, Optimism will release 31.34 million OP Tokens into circulation. According to a report from Tokenomist (formerly TokenUnlocks), these tokens will be distributed to key contributors and investors.
1Inch (1INCH)
- Unlock date: November 30
- Number of Tokens unlocked: 98.74 million 1INCH
- Current circulating supply: 1.27 billion 1INCH
1inch is a decentralized exchange pooling platform that aggregates liquidity from multiple DEXs to provide users with the best trading rates. It simplifies trading by identifying the most efficient trading routes, minimizing slippage and reducing fees.
On November 30, 1inch will unlock nearly 100 million 1INCH Tokens. These tokens are intended for developers, early investors, and venture capital funds.
Sui (SUI)
- Unlock date: December 1
- Number of Tokens unlocked: 64.19 million SUI
- Current circulating supply: 2.84 billion SUI
Sui is a high-performance Layer-1 blockchain designed to improve network operations and security using a Proof-of-Stake consensus mechanism. Developed by Mysten Labs, the project was founded in 2021 by former Novi Research employees who played a key role in the creation of the Diem blockchain and the Move programming language.
The SUI token supports governance, allowing Holders to vote on important proposals and influence the direction of the platform. On December 1, the next Token Unlocking activity will release a significant portion of Tokens allocated to Series A and B participants, community reserve, and Mysten Labs treasury.
ZetaChain (ZETA)
- Unlock date: December 1
- Number of Tokens unlocked: 53.89 million ZETA
- Current circulating supply: 517.85 million ZETA
ZetaChain is a decentralized blockchain platform designed to enable seamless interoperability between different blockchain networks. The highlight of this platform is its cross-chain communication capabilities, allowing the exchange of Tokens and data across blockchains such as Ethereum and Binance Smart Chain.
On December 1, ZetaChain will issue nearly 54 million ZETA Tokens. These tokens will support various initiatives, including user development funds, ecosystem development funds, rewards for key contributors, advisory roles, and liquidity incentives.
Next week’s token unlock also includes other projects such as Cardano (ADA), Ethena (ENA), and dYdX (DYDX), with a total value exceeding $540 million.
General Bitcoin News
[ad_2]
