4 Token Unlocks to Watch Next Week
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.
However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. Here are four major token unlocks to watch next week.
Pixels (PIXEL)- Unlock date: August 19
- Number of tokens unlocked: 54.37 million PIXEL
- Current circulating supply: 771.04 million PIXEL
Pixels is a multiplayer game on the Ronin blockchain, utilizing the PIXEL token as its in-game currency and for community governance. Holders of PIXEL can mint NFTs, purchase items and VIP passes, join guilds, and vote on project developments.
On August 19, 54 million PIXEL tokens will be released into circulation and distributed among advisors, the project’s treasury, and ecosystem rewards.
PIXEL Unlock. Source: token.unlocks
Avalanche (AVAX)
- Unlock date: August 19
- Number of tokens unlocked: 9.54 million AVAX
- Current circulating supply: 395.36 million AVAX
Avalanche is a decentralized blockchain platform that delivers high performance and scalability, enabling developers to create and deploy decentralized applications (dApps) and custom blockchain networks. The native token of the Avalanche network is AVAX, used for paying transaction fees, staking, and participating in the platform’s governance.
Avalanche accounts for nearly all of next week’s token unlocks value. On August 19, the project will unlock 9.54 million AVAX tokens worth nearly $200 million. It is worth noting that this is the latest unlock that could impact the asset’s price.
“Following this event, there will be no additional tokens allocated to the team and strategic partners. Any remaining vesting emissions will be directed towards the Avalanche Foundation, supporting initiatives focused on growth and development,” Avalanche Insider stated.
Read more: 11 Best Avalanche (AVAX) Wallets to Consider in 2024
AVAX Unlock. Source: token.unlocks
Space ID (ID)
- Unlock date: August 22
- Number of tokens unlocked: 18.49 million ID
- Current circulating supply: 430 million ID
Space ID is a universal decentralized identity protocol that connects people, assets, and dApps across various blockchains. It allows users to use a single domain name to represent their identity across different applications and networks.
On August 22, the project will unlock over 18 million ID tokens and allocate them between the Space ID Foundation, ecosystem fund and community.
Read more: Decentralized Identity and the Future of Web3: What To Know
ID Unlock. Source: token.unlocks
Ethena (ENA)
- Unlock date: August 25
- Number of tokens unlocked: 14.89 million ENA
- Current circulating supply: 1.80 billion ENA
Ethena is a synthetic currency protocol built on Ethereum. It provides a native cryptocurrency solution independent of traditional banking, and also offers global users a dollar-denominated savings instrument called the ‘Internet Bond.’
The ENA token enables holders to vote on governance proposals. On August 25, the project will unlock almost 15 million ENA dedicated to ecosystem development.
Read more: What Is Ethena Protocol and its USDe Synthetic Dollar?
ENA Unlock. Source: token.unlocks
Other next-week cliff unlocks include Galxe (GAL), Acala (ACA), and 1Inch (1INCH), with a total value exceeding $230 million. Although many consider token unlocks bearish, a well-planned schedule can strengthen a project’s long-term viability. Aligned with milestones and development progress, unlocks will motivate team members, boost community engagement, and promote ecosystem growth.
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