Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
3 Token Unlocks to Watch Next Week

3 Token Unlocks to Watch Next Week

BeInCryptoBeInCrypto2024/11/17 06:00
By:Daria Krasnova

Major token unlock events are scheduled next week for Avalanche and other projects, releasing previously blocked tokens under fundraising terms. These events can lead to price volatility based on market conditions and investor reactions.

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.

Here are three major token unlocks to keep an eye on next week.

Avalanche (AVAX)

  • Unlock date: November 18
  • Number of tokens unlocked: 1.67 million AVAX
  • Current circulating supply: 407.35 million AVAX

Avalanche, a decentralized blockchain platform, is designed to deliver high performance and scalability for developers creating decentralized applications (dApps) and custom blockchain networks. Its native token, AVAX, plays a central role in the network by facilitating transaction fees, staking, and governance activities.

Next week, Avalanche will dominate the token unlock landscape, with a significant release scheduled for November 18. The project plans to unlock 1.67 million AVAX tokens, valued at over $60 million. These tokens are allocated to the Avalanche Foundation, aiming to support its continued growth and development initiatives. 

3 Token Unlocks to Watch Next Week image 0AVAX Unlock. Source: Tokenomist

Oasis (ROSE)

  • Unlock date: November 18
  • Number of tokens unlocked: 176 million ROSE
  • Current circulating supply: 6.72 billion ROSE

Oasis Protocol, a decentralized, open-source blockchain platform, prioritizes privacy and scalability to deliver a versatile infrastructure for developers. With its focus on confidential computation, the platform empowers the creation of privacy-centric decentralized applications (dApps).

On November 18, Oasis will distribute 176 million newly unlocked ROSE tokens to its core contributors, foundation, community, partners, and reserves. This release may influence market sentiment around ROSE, as the additional supply could impact its short-term value. However, ROSE holders remain confident that the event will not negatively impact the token’s price. 

“176 Million, or 0.0176 of total supply. Will be watching to see what ends up on exchange but unlocks since the end of 2023 have had no immediate effect on price action,” one X user noted.

3 Token Unlocks to Watch Next Week image 1ROSE Unlock. Source: Tokenomist

Cardano (ADA)

  • Unlock date: November 21
  • Number of tokens unlocked: 18.53 million ADA
  • Current circulating supply: 37.74 billion ADA

Cardano, known for its commitment to sustainability, security, and scalability, plays a crucial role in advancing decentralized applications and smart contracts. On November 21, the network plans to unlock over 18 million ADA tokens, with allocations directed toward staking and the treasury fund reserve.

3 Token Unlocks to Watch Next Week image 2ADA Unlock. Source:  Tokenomist

Next week’s cliff token unlocks also include Ethena (ENA) and Apecoin (APE), among others, with a combined value surpassing $123 million.

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

KOMAUSDT now launched for futures trading and trading bots

Bitget has launched KOMAUSDT for futures trading with a maximum leverage of 75, along with support for futures trading bots, on December 23, 2024 (UTC+8). Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. KOMAUSDT-M perpetual futures: Parameters Details Listing

Bitget Announcement2024/12/23 03:11