In summary
Immutable, AltLayer, and other projects will unlock tokens this week.
The total value of tokens being unlocked this week exceeds $220 million.
Token prices may fluctuate around major unlocking events.
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token unlock is the release of previously restricted tokens due to fundraising agreements. Projects strategically schedule these events to mitigate market pressure and stabilize prices.
Below are four major token unlocks scheduled to occur this week.
See more: Token Unlocks: How Supply Changes Affect Market Dynamics?
#1. ApeX (APEX)
- Unlock date: Jan. 20
- Number of tokens unlocked: 10 million APEX
- Current circulating supply: 53.45 million APEX
ApeX Protocol is a decentralized, non-custodial, and permissionless platform for derivatives trading. It was developed under the guidance of Davion Labs, a blockchain-focused incubator, and is backed by prominent investors such as Dragonfly, Tiger Global, and Jump Trading. On Jan. 20, ApeX will unlock 10 million APEX tokens, representing 18.
#2. Ethena (ENA)
- Unlock date: Jan. 22
- Number of tokens unlocked: 12.86 million ENA
- Current circulating supply: 3.03 billion ENA
Ethena, a synthetic currency protocol on Ethereum, provides solutions independent of traditional banking. It also offers global users a dollar-denominated savings vehicle called “Internet Bonds.”
Ethena’s native token, ENA, allows holders to participate in governance decisions for the protocol. On Jan. 22, Ethena will unlock over 12 million ENA tokens, worth $11 million, with the funds allocated for ecosystem development.
#3. Immutable (IMX)
- Unlock date: Jan. 24
- Number of tokens unlocked: 24.52 million IMX
- Current circulating supply: 1.71 billion IMX
Immutable, a layer-2 scaling solution for NFTs on Ethereum, raised $12.5 million in just one hour during its IMX token sale on CoinList in September 2021. By March 2022, it had raised $60 million in a funding round, followed by $200 million from investors including ParaFi Capital, Declaration Partners, and Tencent Holdings.
On Jan. 24, Immutable will release 24.52 million IMX tokens. These tokens are designated to support project development and foster growth within the broader Immutable ecosystem
#4. AltLayer (ALT)
Unlock date: Jan. 25
Number of tokens unlocked: 204.10 million ALT
Current circulating supply: 2.31 billion ALT
AltLayer is a decentralized protocol designed to support the deployment of scalable layer-2 solutions, such as optimistic and zero-knowledge (ZK) rollups.
On Jan. 25, AltLayer will unlock over 240 million ALT tokens. This amount will be allocated across various categories, including team, investors, advisors, community, treasury, and ecosystem development initiatives.
Next week will also see token unlocks for Eigen Layer (EIGEN), Moca Network (MOCA), and Artificial Superintelligence Alliance (FET), with a combined total value exceeding $220 million.
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