Token Lockup is the release of tokens that were previously restricted due to fundraising agreements. Projects schedule these events strategically to reduce market pressure and stabilize prices.
Here are five major token unlock events expected to take place this week.
#1. Ethena (ENA)
- Unlock Date: 01/08
- Amount of Tokens Unlocked: 12.86 million ENA
- Current Circulating Supply: 3.03 billion ENA
Ethena, a synthetic currency protocol on Ethereum, provides a bank-free solution and offers global users a savings tool tied to the US dollar called "Internet Bonds".
The ENA token, the protocol's native token, allows holders to participate in governance. On 01/08, Ethena will unlock over 12 million ENA tokens, worth $16.21 million, for ecosystem development.
#2. Movement (MOVE)
- Unlock Date: 01/09
- Amount of Tokens Unlocked: 50 million MOVE
- Current Circulating Supply: 2.25 billion MOVE
Movement is an advanced Ethereum scaling platform that uses the Move programming language, originally created by Meta (formerly Facebook). This technology helps make blockchains more secure, scalable, and interoperable.
On 01/09, Movement will release 50 million MOVE tokens. The project will use these tokens to develop the ecosystem and support the community.
#3. Optimism (OP)
- Unlock Date: 01/09
- Amount of Tokens Unlocked: 4.47 million OP
- Current Circulating Supply: 1.35 billion OP
Optimism, a Layer-2 scaling solution, accelerates transactions and reduces costs on Ethereum. Its OP token is crucial for governance, allowing holders to vote on proposals and influence the network's future.
On 01/09, Optimism will release 4.47 million OP tokens, allocated to the Seed fund.
#4. Aptos (APT)
- Unlock Date: 01/11
- Amount of Tokens Unlocked: 11.31 million APT
- Current Circulating Supply: 558.49 million APT
Aptos is a Layer-1 Blockchain designed to provide a secure and scalable platform for decentralized applications. It focuses on high performance and security to enhance the blockchain experience. Despite its success, some critics have expressed concerns about the tokenomics due to venture capital control.
On 01/11, Aptos will release 11.31 million APT tokens for community members, core contributors, and investors.
#5. io.net (IO)
- Unlock Date: 01/11
- Amount of Tokens Unlocked: 3.22 million IO
- Current Circulating Supply: 128.83 million IO
Io.net is a decentralized GPU network designed to provide computing power for AI and machine learning applications. It aggregates unused GPUs from various sources, offering a scalable and cost-effective solution for developers.
On 01/11, io.net is expected to unlock approximately 3.22 million IO tokens, representing around 2.50% of the circulating supply. These tokens are allocated for community and ecosystem development.
Next week, token cliff unlocks will also include Eigen Layer (EIGEN), Moca Network (MOCA), and Render (RNDR), with a combined value exceeding $280 million.
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