Cardano's ADA and NEON lead $47 million cliff unlocks next week

Source Fxstreet
  • ADA, NEON and ENA are among the tokens set for $47 million worth of cliff unlocks next week.
  • Cardano's ADA surged over 14% on Friday, stretching its weekly gains above the 20% mark.
  • EIGEN, HFT and MAVIA will also see cliff unlocks.

Cardano's ADA and NEON lead the crypto market in another round of cliff unlocks worth $46.9 million next week. The unlocks comes amid extended gains across several cryptocurrencies after Donald Trump emerged as the winner of the US presidential election last Tuesday.

Crypto market set to see supply injection of nearly $47 million

Tokenomist on Friday revealed that several tokens will be adding to their circulating supply between November 11 and 17 next week. The tokens involved include Neon (NEON), Cardano (ADA), Ethena (ENA), Eigenlayer (EIGEN), Hashflow (HFT) and Mavia (MAVIA).

The tokens will see a combined unlock volume of $46.9 million, led by NEON, which will add $21.9 million to its current supply. NEON has unlocked 50% of its total supply and will release 53.9 million NEON tokens to community members, advisors and private investors.

Weekly Cliff Unlocks | Tokenomist

Weekly Cliff Unlocks | Tokenomist

Cardano will add 18 million ADA tokens worth $6 million into circulation, which will be distributed to community members. ADA has seen the most gains in the past 24 hours, with a 14% rise as of the time of writing. This pushed its weekly gains over 20% ahead of next week's supply injection. 

Additionally, EIGEN, ENA, HFT and MAVIA will witness unlocks worth $3 million, $4 million, $1.7 million and $1.3 million, respectively. These tokens are currently witnessing declines at the time of writing. 

Sector-wise, DeFi will see the highest supply hike amid its extended gains in the past week. According to Crypto Koryo data, the DeFi sector outperformed other sectors following the US presidential election. Potential regulatory clarity from the upcoming Donald Trump administration suggests that the sector may see increased positive sentiment in the coming weeks.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: Gold Drops Below $4,300, Will It Continue to Fall? As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $
Author  TradingKey
10 hours ago
As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $
placeholder
Yen touches 158.37 as Tokyo reopens, then slips back — ¥15.4 trillion of intervention and the 200-day line stand between here and 160USD/JPY reached 158.37 overnight, its highest since early September, then eased to 157.88 as Japanese markets reopened after a three-day holiday. The Ministry of Finance has spent ¥15.4 trillion defending the yen since late July and the BOJ ran a rate check on September 18. The 200-day average sits at 158.43.
Author  Irene Q.
13 hours ago
USD/JPY reached 158.37 overnight, its highest since early September, then eased to 157.88 as Japanese markets reopened after a three-day holiday. The Ministry of Finance has spent ¥15.4 trillion defending the yen since late July and the BOJ ran a rate check on September 18. The 200-day average sits at 158.43.
placeholder
US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth storyUS September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.
Author  Suzie
13 hours ago
US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.
placeholder
Euro weakens below 1.1400 as Fed rate hike expectations reinforce US Dollar strengthThe EUR/USD pair loses ground to near 1.1380 during the early Asian trading hours on Thursday. The major pair extends its downside as hawkish signals from the US Federal Reserve (Fed) boost the US Dollar (USD) against the Euro (EUR).
Author  FXStreet
18 hours ago
The EUR/USD pair loses ground to near 1.1380 during the early Asian trading hours on Thursday. The major pair extends its downside as hawkish signals from the US Federal Reserve (Fed) boost the US Dollar (USD) against the Euro (EUR).
placeholder
Gold Price Forecast: XAU/USD drifts toward $4.300 with bears gaining tractionGold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.
Author  FXStreet
Yesterday 10: 02
Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.
Related Instrument
goTop
quote