We tell you what assets will be unlocked in the coming week, and how large token unlocks can affect market dynamics. We’ve picked four important unlocks to watch next week.
Typically, the team carefully works out tokenomics so as not to cause a lot of selling pressure at various stages of the unlock and thereby not bring down the price of the token. However, some factors, for example, a lack of liquidity or profit-taking by early investors immediately after the tokens are unlocked, can seriously affect the asset’s quotes.
APEX (APEX)
- Unlock date: January 20
- Number of tokens unlocked: 10 million APEX
- Current circulating supply: 53.45 million APEX
ApeX Protocol is a decentralized, non-custodial derivatives trading platform led by Davion Labs, a blockchain-focused incubator. The project is supported by well-known investors, including Dragonfly, Tiger Global and Jump Trading.
On January 20, ApeX will unlock 10 million APEX tokens, representing 18.71% of the current circulating supply.
Ethena (ENA)
- Unlock date: January 22
- Number of tokens unlocked: 12.86 million ENA
- Current circulating supply: 3.03 billion ENA
ENA is the native token of the DeFi protocol Ethena, the issuer of the “synthetic dollar” USDe. The asset is used to manage ecosystem capabilities and as a mechanism to encourage participation and investment in the protocol. ENA’s debut was accompanied by an airdrop from Ethena Labs, which resulted in $450 million in tokens being transferred to the community.
On January 22, the project will unlock more than 12 million ENA, which will be used to develop the ecosystem.
Immutable (IMX)
- Unlock date: January 24
- Number of tokens unlocked: 24.52 million IMX
- Current circulating supply: 1.71 billion IMX
Immutable is a layer two (L2) solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million in just an hour as part of the IMX token sale on the CoinList platform, then closed an investment round of $60 million, and in March 2022 received another $200 million from ParaFi Capital, Declaration Partners, Tencent Holdings and others companies.
On January 24, the circulating supply of IMX will increase by 24.52 million tokens. Unlocked coins will be used to develop the Immutable project and ecosystem.
AltLayer (ALT)
- Unlock date: January 25
- Number of tokens unlocked: 204.10 million ALT
- Current circulating supply: ALT 2.31 billion
AltLayer is a decentralized protocol that helps deploy layer-2 scalable solutions such as optimistic and ZK rollups.
On January 25th, AltLayer will unlock over 240 million ALT tokens. Tokens will be distributed among several categories, including team, investors, advisors, community, treasury, and ecosystem development initiatives.
Other cliffhangers for next week included Eigen Layer (EIGEN), Moca Network (MOCA), and Artificial Superintelligence Alliance (FET). The total value of the tokens that will go into circulation is more than $220 million.
Stay informed! Subscribe to World Stock Market in Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
