From $ROSE to $ADA, we will see nine key unlocks to monitor, according to Phoenix Group. The crypto market is preparing for multiple substantial token unlocks in the next several days, increasing the value of the circulating supply by millions of USD. These events have the potential to affect the price of tokens and the sentiment of investors. 

Oasis Network ($ROSE) Leads the Token Unlocks

On the 18th of November 2024, Oasis Network will be releasing $ROSE tokens worth 177.43 million, translating to 1.77% of the network’s entire supply. With an estimated value of $15.33 million, this is the largest release in the upcoming year. Being a privacy-focused blockchain platform, the extra volume could have a pronounced effect on trading and investor’s perception.

Manta Network and Fusionist Unlock Key Tokens

Manta Network Ltd, a firm at the forefront of zero-knowledge technologies, is ready to release 7.12 million $MANTA tokens, equal to $5.79 million. Currently, it stands at 0.71% of the total shifting the market dynamism around the project. Gaming and metaverse-focused blockchain Fusionist is to launch 1.62 million $ACE tokens worth $3.87 million on the same day, drawing the attention of players and Web3 communities.

Pixels and BENQI Add Liquidity

On the 19th of November, 53.55 million $PIXEL tokens will be unlocked, which is $10.88 million’s worth. The company affiliated with Pixels is known for its activity in the digital assets sector, and therefore, its ecosystem is likely to become more active. In the same manner, an Avalanche-based decentralized finance platform known as BENQI will unlock 105.88 million $QI tokens that are equivalent to $1.62 million, depending on the current token prices. The extra capital could also affect the lending and borrowing mechanism of the protocol.

Polyhedra and Merlin Chain Enter the Spotlight

Polyhedra will launch 15.50 million $ZKJ tokens worth $17.38 million. It unlocks the system from the perspective of relying on zero-knowledge proof in interoperability and, thus, could lead to major changes in trading volume. Merlin Chain has also planned the release of 28.25 million $MERL worth $8.42 million in another significant event on November 19.

Ethena and Cardano: Smaller Unlocks with Big Implications

On November 20th, Ethena will release 12.86 million $ENA tokens, equivalent to $7.28 million. Even as this release is relatively small, at 0.45% of the token’s total supply, it may have a great effect on Ethena’s DeFi collateral management. Last but not least, Cardano will release 18.53 million $ADA tokens on November 21. While this amount is just 0.05% of the Cardano total supply, its value of almost $14.24 million is quite meaningful for the ecosystem.

Market Impact of Token Unlocks

Historically, tokens unlock often followed by a rise in the circulating supply, which may trigger fluctuations in the price in the short term. But at the same time, they also denote significant achievements on projects, which can also signify progress. The next releases of such nine projects can impact trading activities, sentiments of investors, and token movements.

With $ROSE now launched, $MANTA on the near horizon, $ADA, and others already issued, market actors will, therefore, respond to shifts in price and liquidity and seek opportunities and threats in the fast-growing space of cryptocurrency.