The token unlocks the release of previously restricted tokens tied to fundraising agreements. Projects plan these events strategically to limit market pressure and stabilize prices.
Here are four big token unlocks planned for next week.
Apex (APEX)
- Unlock date: January 20
- Number of tokens unlocked: 10 million APEX
- Current circulating supply: 53.45 million APEX
ApeX Protocol is a decentralized, non-custodial, permissionless platform for derivatives trading. It was developed under the leadership of Davion Labs, a blockchain-focused incubator, and is backed by notable investors including Dragonfly, Tiger Global, and Jump Trading.
On January 20, ApeX is expected to release 10 million APEX tokens, representing 18.71% of its current circulating supply.
Ethena (ENA)
- Unlock date: January 22
- Number of tokens unlocked: 12.86 million ENA
- Current supply in circulation: 3.03 billion ENA
Ethena, a synthetic currency protocol on Ethereum, offers a solution independent of traditional banking services. It also offers users around the world a dollar-denominated savings tool called “Internet Bond.”
Ethena’s native token, ENA, allows holders to participate in the protocol’s governance decisions. On January 22, Ethena will unlock more than 12 million ENA tokens, worth $11 million, with the funds allocated for the development of the ecosystem.
Immutable (IMX)
- Unlock date: January 24
- Number of tokens unlocked: 24.52 million IMX
- Current supply in circulation: 1.71 billion IMX
Immutable, a layer 2 solution for scaling NFTs on Ethereum, raised $12.5 million in just one hour during its IMX token sale on CoinList in September 2021. In March 2022, it secured $60 million. dollars in an investment round, followed by $200 million from investors. including ParaFi Capital, Declaration Partners and Tencent Holdings.
On January 24, Immutable will release 24.52 million IMX tokens. These tokens are intended to support project development and drive growth within the broader Immutable ecosystem.
Alt layer (ALT)
- Unlock date: January 25
- Number of tokens unlocked: 204.10 million ALT
- Current circulating supply: 2.31 billion ALT
AltLayer is a decentralized protocol designed to facilitate the deployment of scalable Layer 2 solutions, such as optimistic and zero-knowledge (ZK) rollups.
On January 25, AltLayer is expected to unlock over 240 million ALT tokens. The allocation will be spread across several categories including team, investors, advisors, community, treasury and ecosystem development initiatives.
Next week’s cliff token unlocks will also include Eigen Layer (EIGEN), Moca Network (MOCA), and Artificial Superintelligence Alliance (FET), among others, with a combined total value exceeding $220 million.
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