Key Events in Token Unlocking: IMX, XAI, and ENA
Token unlocking plays a crucial role in the cryptocurrency market, influencing project dynamics and token prices. While upcoming unlock events may not be major, they are still worth monitoring closely.
Immutable (IMX) Unlock Event
Immutable, a layer 2 solution for NFT scaling, is set to unlock 32.47 million IMX tokens on August 9. This release is expected to support project development and ecosystem growth. However, frequent unlocks have been linked to IMX’s poor performance in the past.
XAI Unlock Event
XAI, the world’s first Layer 3 solution for AAA games, will unlock 35.88 million tokens on August 9. These tokens will be distributed among the team, investors, reserves, and ecosystem, furthering the project’s goals.
ENA Unlock Event
Ethena, a synthetic currency protocol, plans to unlock 14.89 million ENA tokens on August 11 for ecosystem development. ENA token holders can participate in governance proposals, shaping the project’s future direction.
Next week, token unlocks for dYdX (DYDX), Hashflow (HFT), and Moonbeam (GLMR) are also scheduled, with a total valuation exceeding $60 million. While some view token unlocking as bearish, strategic planning can enhance long-term project viability by aligning unlocks with milestones and development progress.
