Token unlocks play a crucial role in the cryptocurrency market, releasing previously restricted tokens for circulation. These events can significantly impact liquidity, price movements, and overall market sentiment.
Here are the top five token unlocks to keep an eye on this week:
1. Xai (XAI)
Unlock Date: March 9
Number of Tokens to be Unlocked: 35.89 million XAI (1.44% of Max Supply)
Current Circulating Supply: 1.06 billion XAI
Xai is a Layer 3 gaming blockchain that merges Ethereum's security and Arbitrum's scalability to enable seamless ownership, trading, and utilization of in-game assets across various titles.
On March 9, 35.89 million XAI tokens, valued at approximately $2.62 million, will be unlocked. Allocation includes 17.33 million tokens for investors and 11.9 million tokens for the team, with the rest assigned to the ecosystem and reserve.
2. Moca Network (MOCA)
Unlock Date: March 11
Number of Tokens to be Unlocked: 178.51 million MOCA (2.01% of Max Supply)
Current Circulating Supply: 1.91 billion MOCA
Moca Network functions as a digital identity infrastructure facilitating asset management in both Web2 and Web3 environments. Its utility token, MOCA, powers DeFi and consumer services.
The upcoming release of 178.51 million MOCA tokens (valued at $17.36 million), equivalent to 9.34% of the market cap, will be distributed for network incentives, liquidity, ecosystem development, and operational expenses.
3. Delysium (AGI)
Unlock Date: March 11
Number of Tokens to be Unlocked: 66.48 million AGI (2.22% of Max Supply)
Current Circulating Supply: 1.53 billion AGI
Delysium operates as a blockchain-based AI platform fostering a virtual world where AI and humans coexist. Its native token, AGI, supports ecosystem growth.
On March 11, 66.48 million AGI tokens (valued at $3.78 million) will be unlocked, with allocations for the treasury, team, and strategic sales.
4. Cheelee (CHEEL)
Unlock Date: March 10
Number of Tokens to be Unlocked: 2.67 million CHEEL (0.27% of Max Supply)
Current Circulating Supply: 56.8 million CHEEL
Cheelee is a blockchain-powered short video platform with GameFi elements, utilizing the CHEEL token for governance, NFT upgrades, and in-app transactions.
The forthcoming release of 2.67 million CHEEL tokens (valued at $20.62 million) will predominantly be allocated for liquidity, promoting enhanced trading conditions.
5. Xave (XAV)
Unlock Date: March 11
Number of Tokens to be Unlocked: 279.18 million XAV (2.79% of Max Supply)
Current Circulating Supply: 201,950 XAV (self-reported)
Xave serves as a DeFi platform focusing on decentralized foreign exchange markets, bolstering stablecoin liquidity through an automated market maker model.
On March 11, 279.18 million XAV tokens will be unlocked, with significant distribution for the team, investors, treasury, DEX and CEX liquidity, and as rewards for liquidity providers.
With over $44 million worth of new tokens entering the market this week, tracking these releases can offer insights into potential market dynamics and opportunities for traders and investors.