Token unlocks release previously restricted tokens tied to fundraising agreements. Projects schedule these events strategically to limit market pressure and stabilize prices.
Here are four large token unlocks scheduled for next week.
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, and permissionless platform for derivatives trading. It was developed under the guidance of Davion Labs, a blockchain-focused incubator, and is backed by notable investors, including Dragonfly, Tiger Global, and Jump Trading.
On January 20, ApeX is set to unlock 10 million APEX tokens, representing 18.71% of its current circulating supply.
Ethena (ENA)
- Unlock date: January 22
- Number of tokens unlocked: 12.86 million ENA
- Current circulating supply: 3.03 billion ENA
Ethena, a synthetic currency protocol on Ethereum, delivers a solution independent of traditional banking. It also offers global users a dollar-denominated savings tool called the “Internet Bond.”
Ethena’s native token, ENA, allows holders to take part in governance decisions for the protocol. On January 22, Ethena will unlock over 12 million ENA tokens, valued at $11 million, with the funds allocated to ecosystem development.
Immutable (IMX)
- Unlock date: January 24
- Number of tokens unlocked: 24.52 million IMX
- Current circulating supply: 1.71 billion IMX
Immutable, a Layer-2 solution for scaling NFTs on Ethereum, raised $12.5 million in just one hour during its IMX token sale on CoinList in September 2021. By March 2022, it secured $60 million in an investment round, followed by $200 million from investors including ParaFi Capital, Declaration Partners, and Tencent Holdings.
On January 24, Immutable will release 24.52 million IMX tokens. These tokens are designated to support project development and drive growth within the broader Immutable ecosystem.
AltLayer (ALT)
- Unlock date: January 25
- Number of tokens unlocked: 204.10 million ALT
- Current circulating supply: 2.31 billion ALT
AltLayer is a decentralized protocol designed to facilitate the deployment of scalable Layer-2 solutions, such as optimistic and zero-knowledge (ZK) rollups.
On January 25, AltLayer is set to unlock over 240 million ALT tokens. The allocation will be distributed across multiple categories, including the team, investors, advisors, community, treasury, and ecosystem development initiatives.
Next week’s cliff token unlocks will also include Eigen Layer (EIGEN), Moca Network (MOCA), and Artificial Superintelligence Alliance (FET), among others, with a total combined value exceeding $220 million.
eToro
eToro
eToro
eToro
Coinrule
Uphold
Coinbase
Chain GPT
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
