Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
5 Token Unlocks to Watch Next Week

5 Token Unlocks to Watch Next Week

BeInCryptoBeInCrypto2024/10/20 17:48
By:BeInCrypto

Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.

Although no significant token unlocks are scheduled for the upcoming week, here are five events to keep an eye on.

Cardano (ADA)

  • Unlock date: October 22
  • Number of tokens unlocked: 18.53 million ADA
  • Current circulating supply: 35.72 billion ADA

Cardano focuses on sustainability, security , and scalability for decentralized applications and smart contracts. On October 22, the network will unlock over 18 million ADA, allocating these tokens to staking and the treasury fund reserve. This action strengthens the staking ecosystem and supports Cardano’s long-term development.

Read more: How To Buy Cardano (ADA) and Everything You Need To Know

5 Token Unlocks to Watch Next Week image 0 ADA Unlock. Source: Tokenomist

SpaceID (ID)

  • Unlock date: October 22
  • Number of tokens unlocked: 18.49 million ID
  • Current circulating supply: 430.50 million ID

Space ID is a universal decentralized identity protocol that connects people, assets, and dApps across various blockchains. It allows users to use a single domain name to represent their identity across different applications and networks.

On October 22, the project will unlock over 18 million ID tokens and allocate them between the Space ID Foundation, ecosystem fund and community.

Read more:  Decentralized Identity and the Future of Web3: What To Know

5 Token Unlocks to Watch Next Week image 1 ID Unlock. Source:  Tokenomist

EigenLayer (EIGEN)

  • Unlock date: October 22
  • Number of tokens unlocked: 1.29 million EIGEN
  • Current circulating supply: 186.58 million EIGEN

Ethereum-based restaking protocol EigenLayer started October by listing its EIGEN token on major exchanges . On October 22, the project will unlock 1.29 million EIGEN, valued at $4.56 million as of this writing. The team has earmarked these tokens for future community initiatives, making it unlikely that the unlock will significantly impact the token’s price.

Read more:  Ethereum Restaking: What Is it and How Does it Work?

5 Token Unlocks to Watch Next Week image 2 EIGEN Unlock. Source:  Tokenomist

Ethena (ENA)

  • Unlock date: October 23
  • Number of tokens unlocked: 12.86 million ENA
  • Current circulating supply: 2.74 billion ENA

Ethena  is a synthetic currency protocol working on Ethereum. It provides a native cryptocurrency solution independent of traditional banking, and also offers global users a dollar-denominated savings instrument called the ‘Internet Bond.’

The  ENA  token enables holders to vote on governance proposals. On October 23, the project will unlock almost over 12 million ENA dedicated to ecosystem development.

Read more:  What Is Ethena Protocol and its USDe Synthetic Dollar?

5 Token Unlocks to Watch Next Week image 3 ENA Unlock. Source:  Tokenomist

Yield Guild Games (YGG) 

  • Unlock date: October 27
  • Number of tokens unlocked: 14.08 million YGG
  • Current circulating supply: 386.40 million YGG

Yield Guild Games (YGG) is a gaming community that operates on a  play-to-earn model. It brings together gamers worldwide, enabling them to earn cryptocurrency rewards by participating in various blockchain games. YGG invests in NFT assets, such as in-game items and virtual land, making these available for guild members to borrow and use in their gaming endeavors.

In a few days, Yield Guild Games will unlock over 14 million YGG. These tokens will be distributed across the community, founders, investors, and the treasury, fueling the guild’s growth and ecosystem development.

Read more:  Top 6 Crypto Gaming Coins To Buy in 2024

5 Token Unlocks to Watch Next Week image 4 YGG Unlock. Source:  Tokenomist

Next week’s smaller cliff unlocks include Galxe (GAL), Acala (ACA), and Euler (EUL), among others, with a combined value surpassing $99 million.

While many see token unlocks as bearish, a well-structured schedule can actually support a project’s long-term success. Tied to key milestones and development, unlocks can motivate the team, engage the community, and drive ecosystem growth.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Web3 ai Could Lead 2025’s Best Cryptos With 1,747% ROI, Outshining Toncoin & Chainlink’s Performance

Toncoin (TON) and Chainlink (LINK) show strong market positions, but Web3 ai’s AI-driven platform and sub-$0.001 price point may offer greater potential for exponential growth.Toncoin (TON): Leveraging Telegram’s Ecosystem for GrowthChainlink (LINK): Technical Indicators Point to Potential BreakoutWeb3 ai: Affordable Entry with AI-Driven Security ToolsClosing Thought

Coinomedia2025/05/24 23:40
Web3 ai Could Lead 2025’s Best Cryptos With 1,747% ROI, Outshining Toncoin & Chainlink’s Performance

Ethereum Set to Soar Past $4,000 Again

Ethereum eyes a comeback above $4,000 with a projected 55% surge amid rising market optimism.What’s Driving the Ethereum Rally?Could Ethereum Break Past Its All-Time High?

Coinomedia2025/05/24 23:40
Ethereum Set to Soar Past $4,000 Again

Lark Davis: Best Time to Make Money in Crypto

Crypto analyst Lark Davis says this is the best time to make money in crypto. Here’s why you should pay attention now.Why This Window Matters So MuchHow to Lock In for Maximum Gains

Coinomedia2025/05/24 23:40
Lark Davis: Best Time to Make Money in Crypto

Top Rated Cryptos to Buy in 2025: BlockDAG, Tron, Polygon, and Polkadot Line Up Ahead of Q3 Shift

Explore the top rated cryptos to buy in 2025, featuring BlockDAG’s limited-time 'Double Your BDAG' offer, and why Tron, Polygon, and Polkadot are gaining strong attention this year1. BlockDAG (BDAG)2. Tron (TRX)3. Polygon (MATIC)4. Polkadot (DOT)Closing View on Key 2025 Contenders

Coinomedia2025/05/24 23:40
Top Rated Cryptos to Buy in 2025: BlockDAG, Tron, Polygon, and Polkadot Line Up Ahead of Q3 Shift