Token Unlocks to Watch Next Week: AVAX, ADA and More
Tokens unlock issued tokens that were previously restricted by the fundraising agreement. Projects strategically schedule these releases to minimize market pressure and prevent token price drops.
Here are the three main token unlocks to watch over the next week.
Immutable (IMX)
- Unlock date: November 29
- Number of unlocked tokens: 24.52 million Small and medium enterprises
- Current circulation: 1.67 billion IMX
Immutable, a layer 2 solution for scaling NFT on EthereumIn September 2021, $12.5 million was raised in just one hour during the IMX token sale on CoinList. By March 2022, the project had secured $60 million in an investment round, followed by additional funding from ParaFi Capital, Declaration Partners, and Tencent Holdings.
On November 29, Immutable will issue 24.52 million new IMX tokens into circulation. These tokens will support project development and growth within the broader Immutable ecosystem.
Optimism (OP)
- Unlock date: November 30
- Number of unlocked tokens: 31.34 million OP
- Current circulation: 1.25 billion OP
optimismis a layer 2 scaling solution that increases transaction speed and reduces costs on the Ethereum mainnet. Its OP token is critical to governance, enabling holders to vote on proposals and influence the development and management of the network.
On November 30, Optimism will release 31.34 million OP tokens into circulation. Tokenomist (formerly TokenUnlocks) reports that core contributors and investors will receive the tokens.
1 inch (1 inch)
- Unlock date: November 30
- Number of unlocked tokens: 98.74 million 1 inch
- Current circulation: 1.27 billion 1INCH
1inch is a decentralized trading aggregator that aggregates the liquidity of multiple DEXs to provide users with the best trading exchange rates. It streamlines transactions by identifying the most efficient transaction routes, minimizing slipand reduce costs.
On November 30, 1inch will unlock nearly 100 million 1INCH tokens. These tokens are distributed to developers, early investors, and venture capital funds.
Sui (Sui)
- Unlock date: December 1
- Number of unlocked tokens: 64.19 million Sui
- Current circulation: 2.84 billion SUI
Sui is a high-performance layer-1 blockchain designed to enhance network operations and Safety use Proof of Stake Consensus mechanism. The project is developed by Mysten Labs, founded in 2021 by former Novi Research employees who were instrumental in creating the Diem blockchain and the Move programming language.
The SUI token supports governance, allowing holders to vote on key proposals and influence the direction of the platform. On December 1st, the next token unlock will release a significant portion of the tokens allocated to Series A and B participants, the community reserve, and the Mysten Labs vault.
Zeta Chain (ZETA)
- Unlock date: December 1
- Number of unlocked tokens: 53.89 million ZETA
- Current circulation: 517.85 million ZETA
ZetaChain is a decentralized blockchain platform designed to enable seamless interoperability between different blockchain networks. The platform’s standout feature supports cross-chain communication, allowing tokens and data to be exchanged across blockchains such as Ethereum and Binance Smart Chain.
On December 1, ZetaChain will issue nearly 54 million ZETA tokens. The tokens will support various initiatives including user growth pools, ecosystem growth funds, core contributor rewards, advisory roles, and liquidity incentives.
Next week’s cliff token unlocks will also include Cardano (ADA), Ethena (ENA), and dYdX (DYDX), among others, with a total value of over $540 million.
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