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.
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.
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.
Next week’s cliff token unlocks also include Ethena (ENA) and Apecoin (APE), among others, with a combined value surpassing $123 million.
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Source: https://beincrypto.com/token-unlocks-november-18-24/