Arbitrum, APE lead $113 million token unlock next week
- Crypto market will see an unlock supply hike of $113 million next week.
- Arbitrum will witness over $48 million worth of new supply entering circulation amid heightened losses among holders.
- APE and ENA will also experience new unlocks, as their holders suffer heavy losses.
The crypto market will witness a supply injection of $113.02 million next week as projects like Arbitrum (ARB), Apecoin (APE), Echelon Prime (PRIME) and Ethena (ENA) will witness cliff unlocks.
Arbitrum and Apecoin lead crypto cliff unlocks
Cliff unlocks from key projects will see the crypto market experience a supply hike of over $113 million next week, per Token Unlocks data.
Cliff unlocks are the periodic release of vested tokens to investors, team members, community members or other key stakeholders. Prices tend to decline if the unlocked supply is high and demand fails to catch up.
Cliff Unlocks
Arbitrum will lead next week's cliff unlock with a release of 2.65% of its circulating supply worth $48.01 million. The high unlocks of Arbitrum in the past months have heavily affected holders, as over 95% of addresses are holding ARB at a loss, per IntoTheBlock's data. Notably, only less than 2% of holders are in profit.
ARB Global In/Out of the Money
Space ID (ID) follows ARB, unlocking 18.23% of its circulating supply worth $26.93 million.
Next is APE, which will unlock 2.31% of its supply worth $11.47 million. Almost similar to ARB, only 3% of APE holders are seeing gains at current prices, with over 94% of addresses holding their tokens at a loss.
APE Global In/Out of the Money
ENA will witness only a $3.11 million unlock. Despite the tiny hike in its supply next week, ENA has been experiencing such unlocks almost every week in the past few months. Hence, the cumulative effect could have a telling impact on holders. According to IntoTheBlock's data, only 3 ENA holders, representing 0.01% of total addresses, are in profit at current prices. A slight decline could result in every ENA address holding a loss.
ENA Global In/Out of the Money
Other tokens set for new supply unlock next week include LISTA, PIXEL and PRIME, which will release tokens worth $8.44 million, $7.29 million and $5.87 million, respectively.
Meanwhile, Solana (SOL), Worldcoin (WLD) and Avalanche (AVAX) will continue adding $10.41 million, $8.14 million and $2.50 million worth of linear unlocks, respectively, per day.
Author
Michael Ebiekutan
FXStreet
With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addi
