- Token Unlocks data reveals that the crypto market will witness $111 million of new unlocks next week.
- Aptos and Starknet will see the highest unlock volume, adding tokens worth $64 million and $25 million to their circulating supply.
- XAI, ENA, RENDER and IO will also witness combined unlocks of $15 million next week.
The crypto market is set to witness cliff unlocks totaling $111 million next week. Aptos (APT) and Starknet (STRK) will see the highest volume, with new tokens entering circulation worth $64 million and $25 million, respectively.
APT, STRK lead next week’s token unlocks
Several crypto projects will see a hike in their circulating supply totaling $111 million next week. The tokens set to for cliff unlocks include Aptos (APT), Starknet (STRK), Xai (XAI), Render (RENDER), Ethena (ENA), io.net (IO) and Cyber (CYBER).
Cliff unlocks refer to periodic unlocks of vested tokens to investors, team members, community members or other key stakeholders. Prices often tend to decline during cliff unlocks if demand fails to catch up with the new supply.
The major highlights for next week's cliff unlock are Aptos (APT) and Starknet (STRK), who will unlock $66 million and $25 million worth of their tokens, respectively.
Weekly Cliff Unlocks : 9-15 Sep '24
— Token Unlocks (@Token_Unlocks) September 6, 2024
$ 111.19m
Unlock Highlights $APT (2.32%) - $66.05m$STRK (3.60%) - $25.07m$RENDER (0.19%) - $3.58m$IO (2.22%) - $3.20m$ENA (0.78%) - $3.12m$CYBER (3.81%) - $2.78m
.
.
( % of cir. supply) pic.twitter.com/CH26xZYWcN
Aptos will unlock 11.31 million APT tokens (2.32% of its supply) next week. These tokens will be distributed across its foundation, community, founder and private investors. Meanwhile, Aptos Labs announced that Libre Protocol launched its tokenized money-market funds on its network on Friday, joining the likes of Solana and Near Protocol.
APT and STRK are currently down nearly 3% and 2% in the past 24 hours.
Other tokens set to add to their current circulating supply include XAI, with 6.3% of its supply worth $6 million entering circulation. IO, RENDER and ENA will each add $3 million worth of new tokens to their circulating supply.
Other tokens with low unlock volume include GMX, PENDLE and GLMR. Each of these tokens will release less than $1 million worth of their supply into circulation.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto today: Bitcoin, Ethereum, XRP tests key support, TRON network non-stablecoin activity hits new highs
Bitcoin, Ethereum, and XRP hover around key support levels after registering a steep correction earlier this week. TRON network’s stablecoin activity hit new highs following the release of SunPump. TRON trades at around $0.1500, almost flat on the day.
Bitcoin Weekly Forecast: $50,000 on the horizon if it breaks below key support level
Bitcoin price tests the key support level at $56,000 on Friday, consolidating over a 1% decline this week. If it drops below this support, a continued downtrend is likely for BTC, as suggested by substantial outflows from US spot Bitcoin ETFs, rising institutional selling, and bearish on-chain indicators.
Vitalik Buterin says all Layer-2 token holdings will be donated to charity, won’t sell for profit
Vitalik Buterin, Ethereum co-founder, has not sold Ether since the altcoin’s ICO in 2018. On-chain transfers by Buterin make headlines as ETH holders keep eyes peeled for selling pressure on the altcoin.
WazirX, PenPie and Bo Shen hackers launder $42.7 million in stolen funds through Tornado Cash
Three different hackers responsible for the exploit of crypto assets worth millions of dollars from crypto exchange WazirX, DeFi protocol Penpie, and Founder of Fenbushi Capital Bo Shen are using Tornado Cash to move part of the stolen funds.
Bitcoin: $50,000 on the horizon if it breaks below key support level
Bitcoin (BTC) price tests the key support level at $56,000 on Friday, consolidating over a 1% decline this week. If it drops below this support, a continued downtrend is likely for BTC, as suggested by substantial outflows from US spot Bitcoin ETFs, rising institutional selling, and bearish on-chain indicators.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.