In the coming week, cryptocurrency tokens worth $535.46 million will enter the market. Special attention should be given to three major ecosystems — Ethena (ENA), Immutable (IMX), and Movement (MOVE), which will release a significant number of new tokens in the first week of August.
Token unlocks will add fresh liquidity to the market and may cause price fluctuations. Let's see what to expect from each project.
Unlock date: August 5
Number of tokens for unlocking: 171.88 million ENA (1.15% of total volume)
Current circulating volume: 6.3 billion ENA
Total volume: 15 billion ENA
Ethena is a decentralized synthetic dollar protocol on the Ethereum (ETH) blockchain. It offers a cryptocurrency alternative to traditional stablecoins. The main product is USDe, a synthetic dollar stablecoin. ENA is the governance token of the protocol.
On August 5, the team released 171.88 million ENA, amounting to $104.82 million and 2.7% of the current circulating volume.
Ethena will allocate 93.75 million tokens to primary participants, while investors will receive 78.13 million ENA. This corresponds to the network's unlock plan.
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2. #Immutable $IMX
Unlock date: August 8
Number of tokens for unlocking: 24.52 million IMX (1.23% of total volume)
Current circulating volume: 1.89 billion IMX
Total volume: 2 billion IMX
Immutable X is a second-layer scaling solution on Ethereum designed for NFTs. It provides fee-free transactions, supports ERC-721 and ERC-20 tokens, and offers high speed (up to 9,000 TPS) using zero-knowledge proofs for security and scalability. The IMX token is used for governance and services on the platform.
On August 8, the network will unlock 24.52 million IMX tokens, worth $12.36 million. This constitutes 1.30% of the current circulating supply of Immutable.
The team will allocate 16.56 million tokens for project development, while 7.96 million IMX will be directed towards ecosystem development.
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Unlock date: August 9
Number of tokens for unlocking: 50 million MOVE (0.5% of total supply)
Current circulating supply: 2.65 billion MOVE
Total supply: 10 billion MOVE
Movement Network is a second-layer blockchain that uses the Move programming language. It ensures robust interoperability and high security within its ecosystem.
The team will release 50 million tokens worth approximately $6.51 million. These tokens represent 1.89% of the circulating supply, and the entire unlocked volume will be directed towards ecosystem development and community support.
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In addition to MOVE, tokens from BounceBit (BB), Delysium (AGI), and IOTA (IOTA) will enter the market. Overall, the market will be replenished with tokens worth approximately $3 billion in August.
