Top Token Unlocks This Week: APT, ADA, RENDER, ENA

A series of token unlocks is set to impact the crypto market this week. The tokens include APT, ADA, RENDER, and ENA. This highly anticipated event is expected to inject high liquidity into the market, significantly influencing the crypto prices. This article will delve into the key token unlocks of the week, guiding investors on what awaits ahead.

Aptos (APT)

Aptos (APT), trading at $14.9 at press time, has experienced a notable surge of 5.05% over the last 24 hours and a 15.28% increase over the last week. APT has already unlocked $412.74 million and is slated to unlock 11.31 million tokens, worth $168.52 million, on December 11, 2024. The token’s recent unlock occurred on November 11, when Aptos unlocked 11.31 million, comprising 2.11% of its total circulation. Despite a 9.34% dip in trading volume, $631.39 million, Aptos stands steady among the top 25 tokens with a market cap of $8.01 billion.

Cardano (ADA)

Cardano (ADA) will unlock 18.53 million tokens ($22.24 million), representing a marginal 0.05% of its total supply, on December 11. ADA is trading at $1.20, with a daily surge of 3.69% and a 10.42% weekly surge. The 24-hour trading volume of ADA stands at $2.02 billion, down 15%. At the same time, the token stands firm at its 8^th rank, with a market capitalization of $42.32 billion. Cardano has unlocked 38.41 billion tokens, representing 85.35% of the supply.

Render (RENDER)

Render (RENDER), which has already unlocked 311.95 tokens constituting 48.42%, is poised to unleash another significant set. On December 13, Render will unlock 492.13k coins, worth $5.02 million. This accounts for just 0.10% of Render’s total tokens in circulation. At the time of writing, RENDER is priced at $10.35, up 0.55% in a day. The token has seen remarkable upticks on a weekly and monthly basis, increasing by 18% and 106%, respectively. With a market cap of $5.35 billion, RENDER is ranked 32 on CoinMarketCap. Meanwhile, the 24-hour volume of $1.34 billion shows a 50% decline. 

Ethena (ENA)

As of press time, Ethena (ENA) is exchanging hands at $1.08, marking an increase of 4.8% in 24 hours. However, the token has seen massive hikes of 40% and 110% over the last week and month, respectively. ENA’s 33.42% decline in the 24-hour trading volume shows the decreasing market movement. While the token boasts a market cap of $3.16 billion, ENA is expected to release 12.86 million coins worth $13.89 million, representing 0.44%. Ethena has already unleashed 2.01 billion ENA, a 13.37% of the supply. 

Conclusion:

The upcoming token-unlocking events, including Aptos, Render, Ethena, and Cardano, can potentially revolutionize the crypto space. Investors and traders keenly observe the market moves to consider the potential implications. While increased liquidity could bring opportunities, exercising caution and understanding the sentiment is crucial, as always.