Token unlock events are critical milestones for any cryptocurrency, often influencing price dynamics, market sentiment, and overall liquidity. This week, several notable projects, including SUI, ADA, DYDX, ENA, and EIGEN, are set to unlock substantial portions of their supply. This article gives investors and traders a clear picture of how much tokens are about to be released into circulation.
SUI
SUI is trading at a price of $3.44 at press time, a slight decline of 0.50% in the last 24 hours and a 2.68% fall in the past seven days. The coin has a market capitalization of $9.78B and the total volume has decreased by 3.99% to $1.12B. Sui has a Fully Diluted Value of $34.43B and has already unlocked 2.85B SUI, which corresponds to 28.50% of the circulation supply. On the 1st of December 2024, about 64.19M SUI (2.26% of Cir. supply) worth about $220.19M will be unlocked into circulation.
Sui Network Is Back After Experiencing Over Two-Hour HaltADA
At the time of writing, Cardano has a value of $1.07, and has increased by 1.38% in the past day. ADA has a total volume of $2.26B, an increase of 41.70% and has a market cap of $37.43B. The coin has unlocked about 85.27% which is about 38.37B ADA and has a Fully Diluted Value of $48.03B. Cardano is about to unlock 0.05% of circulation supply, about 18.53M ADA worth $19.73M on 1st of December 2024.
DYDX
According to CoinMarketCap, at the time of publication DYDX is trading at a price of $1.67. The coin has already unlocked 630.16M DYDX, about 63% of the circulation supply and on the 1st of December, 2024, DYDX is expected to unlock an additional 1.19% of circulation supply (8.33M DYDX) worth about $13.83M. DYDX value has surged by 24.93% in the last seven days, and has a market cap of $1.07B and a 24-hour volume of $54.76M.
ENA
On the 4th of December 2024, Ethena will unlock 12.86M ENA (0.45% of circulation supply) worth $10.27M into circulation. At press time, ENA had a 1-day increase of 10.50% and is trading at a price of $0.7939. The total volume of the coin in the last 24-hours has increased by 29.82%, reaching $469.06M. ENA has a Fully Diluted Value of $11.91B and has a circulation supply of 2.84B ENA.
EIGEN
EigenLayer is about to release into circulation 1.29M EIGEN (0.69% cir. supply), worth around $4.87M, on the 3rd of December 2024. At the time of publication, EIGEN had a price of $3.73 and a seven day increase of 42.26%. EIGEN has a market cap of $785.60M and a 24-hour volume of $149.34M. The coin has a circulation supply of 210.81M EIGEN and a Fully Diluted Value of $6.27B.
Cardano’s Hoskinson and Ripple CTO Explore Midnight FeaturesConclusion
Token unlocks are more than just routine events; they are pivotal moments that can shape a cryptocurrency’s market dynamics. For traders and investors, understanding the implications of token unlocks is crucial for navigating the volatile crypto market and making informed decisions. Staying vigilant on the upcoming token unlocks is essential for investors to navigate the volatile market.
