ARB, APE, and ENA lead the unlocking of $113 million worth of tokens next week

The crypto market will see an additional $113 million in supply next week as projects like Arbitrum (ARB), ApeCoin (APE), Echelon Prime (PRIME), and Ethena (ENA) will have unlocking events.

Arbitrum and Apecoin lead the crypto cliff unlock waves

According to Token Unlocks data, the cliff unlocks from significant projects will inject an additional 113 million USD into the crypto market next week.

Cliff unlock is the regular release of tokens that have been held back for investors, group members, communities, or other important entities. Prices tend to drop if the unlocked supply is high but demand doesn’t keep up.

Arbitrum will lead the upcoming cliff unlock with the release of 2.65% of its circulating supply, valued at $48.01 million. The high unlock phases of Arbitrum in recent months have heavily impacted holders, with over 95% of addresses holding ARB experiencing losses, according to IntoTheBlock data. It is worth noting that less than 2% of holders are currently profitable.

ARB Global In/OutSpace ID (ID) stands behind ARB, unlocking 18.23% of the circulating supply, worth 26.93 million USD.

Next is APE, expected to unlock 2.31% of the supply, worth 11.47 million USD. Similar to ARB, only 3% of APE holders are currently profitable at the current price, while over 94% of addresses are holding the token at a loss.

APE Global’s ENA Unlock will only release 3.11 million USD. Despite a slight increase in supply next week, ENA has been consistently unlocking on a weekly basis for the past few months. Therefore, the accumulated impact may significantly affect holders. According to data from IntoTheBlock, only 3 ENA holders, accounting for 0.01% of total addresses, are currently profitable at the current price. Even a slight decrease could cause losses for all ENA holders.

APE Global Enter/Exit Other tokens expected to unlock next week include LISTA, PIXEL, and PRIME, with the respective issued token values of $8.44 million, $7.29 million, and $5.87 million.

Meanwhile, Solana (SOL), Worldcoin (WLD), and Avalanche (AVAX) will continue to add unlocked amounts worth 10.41 million USD, 8.14 million USD, and 2.50 million USD per day.

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Thạch Sanh

According to Fxstreet