5 Major Token Unlocks to Keep an Eye on Next Week

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.

Five major token unlocks to watch next week: ADA, NEON, BANANA, XAI, BGB

As cryptocurrency markets continue to recover from the downturn earlier this year, several projects have announced token unlocks scheduled for next week. These releases can significantly impact token prices, especially for projects with a limited circulating supply.

Here are five major token unlocks to keep an eye on during the upcoming week:

Cardano (ADA)

Cardano is a proof-of-stake blockchain platform known for its focus on sustainability, security, and scalability. The network is designed to host decentralized applications and smart contracts.

On November 6, the Cardano network will unlock over 18 million ADA tokens. These tokens will be allocated to staking and the treasury fund reserve, strengthening the staking ecosystem and supporting Cardano’s long-term development.

Neon (NEON)

Neon is an Ethereum Virtual Machine (EVM) project on the Solana blockchain. The project aims to enable Ethereum-based dApps to run on Solana’s high-speed, low-cost network.

On November 7, the Neon project will unlock 53.91 million NEON tokens. This unlock represents 44.92% of the current circulating supply.

Banana Gun (BANANA)

Banana Gun (BANANA) is a decentralized trading tool that enables users to automate token purchases and sales, particularly during popular events such as new token launches. The project is known for its fast trading bot, which provides traders with an edge in high-volume markets.

On November 8, the Banana Gun project will release approximately 250,000 BANANA tokens, valued at roughly $11.7 million. This unlock represents 7.21% of the current circulating supply.

Xai (XAI)

Xai is the first Layer-3 solution designed for AAA gaming, built on Arbitrum technology. The project aims to simplify wallet management and integrate blockchain into the gaming ecosystem seamlessly.

On November 9, the Xai project will unlock 35.88 million XAI tokens, which will be distributed to the team, investors, reserves, and the broader ecosystem.

Bitget Token (BGB)

Bitget Token (BGB) is the native token of the Bitget cryptocurrency exchange. It provides users with benefits such as fee discounts, access to exclusive services, and participation in platform events.

On November 10, the Bitget exchange will unlock BGB tokens worth approximately $6.02 million. This unlock represents 0.38% of the current circulating supply.

In addition to these major token unlocks, smaller cliff unlocks will also occur next week for EigenLayer (EIGEN), Ethena (ENA), Hashflow (HFT), and other projects, with a combined value exceeding $85 million.