Watch for 5 Tokens unlocking next week

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Token unlocks release tokens that were previously restricted under capital raising agreements, with projects adjusting to this timing to alleviate market pressure and stabilize prices.

Here are four important Token unlocks to look out for next week.

Cardano (ADA)

Unlock date: December 16
Number of Tokens unlocked: 18.53 million ADA
Current circulating supply: 35.82 billion ADA

Cardano, known for its focus on sustainability, security, and scalability, plays a pivotal role in promoting decentralized applications and smart contracts. On December 16, the project will unlock more than 18 million ADA Tokens, allocated for staking and core reserves.

Arbitrum (ARB)

Unlock date: December 16
Number of Tokens Unlocked: 92.65 million ARB
Current circulating supply: 4.09 billion ARB

Arbitrum, developed by Offchain Labs, is a leading Layer-2 solution for Ethereum. Launched in August 2021, it has backing from Lightspeed Venture Partners, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Mark Cuban, and Coinbase.

Next week, Arbitrum will unlock 92.65 million ARB Tokens, worth approximately 91 million USD, allocated to the team, advisors, and investors.

Apecoin (APE)

Unlock date: December 17
Number of Tokens Unlocked: 15.60 million APE
Current circulating supply: 721.44 million APE

ApeCoin, the native token of Yuga Labs’ Ape ecosystem, will unlock more than 15 million tokens on December 17. These tokens will be distributed to the treasury, founders, team, and contributors.

History shows that APE prices often drop after major unlocks. However, with renewed interest in NFTs, the impact may be milder this time. Investors and traders should monitor this event closely, as it could significantly affect the Token’s price dynamics.

Ethereum (ENA)

Unlock date: December 18
Number of Tokens unlocked: 12.86 million ENA
Current circulating supply: 2.93 billion ENA

Ethena, a synthetic currency protocol on Ethereum, provides a native cryptocurrency solution that is independent of traditional banks. It also offers global users a USD-denominated savings instrument, called “Internet Bonds.”

The ENA token allows Holders to participate in governance decisions. On December 18, the project will unlock more than 12 million ENA Tokens allocated for ecosystem development.

Space ID (ID)

Unlock date: December 22
Number of Tokens unlocked: 78.49 million IDs
Current circulating supply: 430.50 million IDs

Space ID is a cross-chain decentralized identity protocol that connects people, assets, and dApps across multiple blockchains. It allows users to use a single domain name that represents their identity across many different applications and networks.

On December 22, the project will unlock more than 78 million ID Tokens, distributing them to the Space ID Foundation, ecosystem fund, team, community and participants in several sales rounds.