Next week marks a significant moment in the world of cryptocurrency as multiple token unlock events are set to unfold for various prominent projects, including Cardano (ADA), Galxe (GAL), Eigenlayer (EIGEN), Ethena (ENA), and Yield Guild Games (YGG). These unlocks are anticipated to play a crucial role in influencing both the circulating supply and market values of the respective tokens involved, drawing the attention of investors and market analysts alike.
Cardano (ADA) is poised to unlock approximately 18.53 million tokens on October 22 at 08:00 UTC+8. This unlocking action represents a mere 0.05% of its current circulating supply, which translates to an estimated market value of around $6.5 million. The implications of such an action could be much more significant, as even small percentages in large-cap cryptocurrencies can lead to fluctuations in market perceptions and prices.
That same day, Galxe (GAL) is scheduled to unlock about 587,000 tokens, amounting to roughly 0.46% of its circulating supply, with an approximate value reaching $1.2 million. The timing of this release aligns strategically with Cardano's unlock, and market watchers will undoubtedly keep a close eye on how both releases interact and influence investor sentiment.
On October 23 at 03:00 UTC+8, Eigenlayer (EIGEN) will unlock an estimated 1.29 million tokens, making up 0.69% of its total circulating supply. This action, valued at around $4.8 million, could affect trading volumes and market stability as stakeholders react to the additional tokens entering the market.
Later that same day, Ethena (ENA) will join the unlock events, releasing approximately 12.86 million tokens at 15:00 UTC+8. This represents 0.47% of its circulating supply, valued at about $5.1 million. Investors are likely to scrutinize the pricing trends closely as these coins become available. Finally, Yield Guild Games (YGG) is set to unlock around 14.08 million tokens on October 27 at 22:00 UTC+8.
This date marks a notable release, as the tokens accounted for here represent 3.64% of its circulating supply, which carries an estimated value of $8 million. As this is one of the larger unlocks, the effects on the price and market stability could be more pronounced, leading to potential price volatility and reshuffling among investor portfolios..