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Cryptocurrency News Articles
Five Token Unlocks to Watch Next Week: ADA, ID, EIGEN, ENA, YGG
Oct 21, 2024 at 12:30 am
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.
Cardano (ADA) will lead the upcoming token unlocks with over 18 million ADA slated to be released on October 22. These tokens will be allocated to staking and the treasury fund reserve.
Space ID (ID) will also unlock over 18 million ID tokens on October 22, distributing them among the Space ID Foundation, ecosystem fund, and community.
EigenLayer (EIGEN) will unlock 1.29 million EIGEN on October 22, valued at $4.56 million at the time of writing.
Ethena (ENA) will unlock almost over 12 million ENA on October 23, allocating these tokens to ecosystem development.
Yield Guild Games (YGG) will unlock over 14 million YGG in a few days, distributing these tokens across the community, founders, investors, and the treasury.
Other notable token unlocks next week include Galxe (GAL), Acala (ACA), and Euler (EUL), with a combined value exceeding $99 million.
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