CandleFocus

5 Token Unlocks to Watch This Week

Author: Content Editor
This article highlights five upcoming token unlocks in the cryptocurrency market. Token unlock refers to the release of tokens that were previously locked under fundraising terms. The releases are carefully scheduled to avoid market pressure and prevent a drop in token prices.

The first token unlock is for Cardano (ADA), which will release over 18 million ADA tokens on November 6. These tokens will be allocated to staking and the treasury fund reserve, strengthening the staking ecosystem and supporting Cardano's long-term development.

The second token unlock is for Neon, an Ethereum Virtual Machine (EVM) project on the Solana blockchain. On November 7, 53.91 million NEON tokens, representing 44.92% of the current circulating supply, will be unlocked. Neon enables Ethereum-based dApps to run on Solana's high-speed and low-cost network.

Banana Gun (BANANA), a decentralized trading tool, will release approximately 250,000 BANANA tokens on November 8. This represents 7.21% of its current circulating supply and is valued at around $11.7 million.

Xai, the world's first Layer-3 solution for AAA gaming, built on Arbitrum technology, will unlock 35.88 million XAI tokens on November 9. These tokens will be distributed to the team, investors, reserves, and the broader ecosystem.

Bitget Token (BGB), the native token of the Bitget exchange, will unlock tokens worth approximately $6.02 million on November 10. These tokens represent 0.38% of the current circulating supply and provide users with benefits such as fee discounts and access to exclusive services.

The article also mentions smaller cliff unlocks for EigenLayer (EIGEN), Ethena (ENA), and Hashflow (HFT) among others, which have a combined value surpassing $85 million.

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