Token unlocking releases Tokens that were previously restricted under capital raising agreements. Projects schedule these events strategically to reduce market pressure and stabilize prices.
Watch for three important Token unlocks happening next week.
Ethereum (ENA)
- Unlock date: December 25
- Number of Tokens unlocked: 12.86 million ENA
- Current circulating supply: 2.93 billion ENA
Ethena, a synthetic currency protocol on Ethereum, provides a solution that is independent of the traditional banking system. It also offers global users a USD-denominated savings tool called “Internet Bonds”.
The protocol’s native ENA token allows holders to participate in governance decisions. On December 25, Ethena will unlock over 12 million ENA worth $13.73 million, with allocation directed towards ecosystem development.
Cardano (ADA)
- Unlock date: December 26
- Number of Tokens unlocked: 18.53 million ADA
- Current circulating supply: 35.83 billion ADA
Cardano, known for its focus on sustainability, security, and scalability, plays a key role in promoting decentralized applications and smart contracts. On December 26, the project will unlock more than 18 million ADA Tokens, worth $16.92 million, allocated for staking and treasury reserves.
Immutable (IMX)
- Unlock date: December 27
- Number of Tokens unlocked: 24.52 million IMX
- Current circulating supply: 1.69 billion IMX
Immutable, a Layer-2 solution for scaling NFTs on Ethereum, raised $12.5 million in just one hour in an IMX Token sale on CoinList in September 2021. By March 2022, it secured an additional $60 million in an investment round, followed by $200 million from investors including ParaFi Capital, Declaration Partners, and Tencent Holdings.
On December 27, Immutable will release 24.52 million IMX Tokens. These Tokens are identified to support project development and drive growth within the broader Immutable ecosystem.
Next week, Token cliff unlocks will also include Yield Guild Games (YGG), Eigen Layer (EIGEN), and Artificial Superintelligence Alliance (FET), among others, with a total combined value exceeding $120 million USD .