Ethena

EigenLayer

<p><strong>Date:</strong> Sun, Nov 03, 2024, 12:12 PM GMT</p><p>Last week, the cryptocurrency market saw a whirlwind of activity. Bitcoin (BTC) nearly touched its all-time high at $73,620 before sliding back to $68,500, a move that rippled across the market, affecting many altcoin prices. <a href="https://coinsprobe.com/celestia-tia-price-declines-post-massive-839m-token-unlock-what-lies-ahead/" rel="noopener noreferrer nofollow">Celestia (TIA)</a>, in particular, made headlines with an $839 million token unlock, which sent its price down 13% over the past week to $4.55.</p><p>This week, the market is eyeing another wave of unlocks, with Ethena (ENA), Eigenlayer (EIGEN), and Xai (XAI) collectively releasing over $46 million worth of tokens. According to <a href="https://x.com/Tokenomist_ai/status/1852210278756421700" rel="noopener noreferrer nofollow">Tokenomist</a>, these token unlocks, scheduled between November 4 and November 10, could influence the circulating supply and price action for these projects.</p><h3 id="key-token-unlocks-to-watch">Key Token Unlocks to Watch</h3><h3 id="1-ethena-ena-november-6">1. Ethena (ENA) – November 6</h3><p>Ethena, a re-staking platform, is set to unlock 12.86 million ENA tokens valued at $4.73 million, representing 0.47% of its circulating supply. These tokens will be distributed to the community, which could lead to fluctuations in price based on market demand.</p><h3 id="2-eigenlayer-eigen-november-5">2. EigenLayer (EIGEN) – November 5</h3><p>Another re-staking platform, EigenLayer, plans to release 1.29 million EIGEN tokens worth approximately $3.57 million. This release, representing 0.69% of Eigen’s circulating supply, is expected to slightly impact the token’s liquidity and potentially its price.</p><h3 id="3-xai-xai-november-9">3. Xai (XAI) – November 9</h3><p>Xai, a pioneer in Layer 3 technology for indie gaming, will unlock 35.88 million XAI tokens, valued at around $7.14 million. This release amounts to 4.9% of XAI&#39;s circulating supply, which is a larger percentage than ENA and EIGEN, making it a more significant event that could have notable price implications.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/3c26fa6504584b6592fc91549a9dd54f.jpeg" />Source: Tokenomist (X)</p><h3 id="other-notable-token-unlocks">Other Notable Token Unlocks</h3><ul><li><strong>Cardano (ADA)</strong>: Set to unlock tokens worth $6.32 million on November 6, amounting to 0.05% of its circulating supply.</li><li><strong>Neon EVM (NEON)</strong>: A significant unlock is scheduled for November 7, with $20.85 million worth of NEON tokens being released—equivalent to 44.92% of its circulating supply, which could cause volatility.</li></ul><p>This influx of tokens could increase supply-side pressure on each project&#39;s market price. Investors and traders will be closely monitoring the market this week to see how these releases impact token prices and overall market sentiment.</p><p><strong>Disclaimer:</strong> This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.</p><p><strong>Also Read: </strong><a href="https://coinsprobe.com/top-political-memecoins-trump-and-maga-sink-to-key-support-levels-whats-ahead/" rel="noopener noreferrer nofollow">Top Political Memecoins TRUMP and MAGA Sink to Key Support Levels – What’s Ahead?</a></p>

Key Token Unlocks This Week: ENA, EIGEN, and XAI in the Release List for Over $46M Worth of Tokens

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