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
Fed Decision Eve: 104 Economists Expect No Change; Why Is Citadel Securities Betting on a Surprise Hike?The Federal Reserve will announce its July interest rate decision on July 29, Eastern Time. The current target range for the federal funds rate remains at 3.5%-3.75%, but the suspense sur
Author  TradingKey
9 hours ago
The Federal Reserve will announce its July interest rate decision on July 29, Eastern Time. The current target range for the federal funds rate remains at 3.5%-3.75%, but the suspense sur
placeholder
WTI Oil flirts with the $80 level amid speculation about US-Iran peace talksOil prices remain depressed on Tuesday, as hopes of a new round of peace talks between the US and Iran boosted hopes of a de-escalation of the Middle East conflict.
Author  FXStreet
10 hours ago
Oil prices remain depressed on Tuesday, as hopes of a new round of peace talks between the US and Iran boosted hopes of a de-escalation of the Middle East conflict.
placeholder
Gold declines despite easing concerns over inflation, interest rate hikesGold price (XAU/USD) loses ground after registering gains in the previous day, trading around $4,050 per troy ounce during the Asian hours on Tuesday.
Author  FXStreet
18 hours ago
Gold price (XAU/USD) loses ground after registering gains in the previous day, trading around $4,050 per troy ounce during the Asian hours on Tuesday.
placeholder
Gold Price Forecast: Gold Poised to Break $4,200 as Oil Price Slump Eases Inflation FearsAs of the Asian session on July 27, gold prices ( XAUUSD) opened with a strong gap up today and maintained its upward momentum intraday, briefly breaking through $4,100 during the session
Author  TradingKey
Yesterday 08: 51
As of the Asian session on July 27, gold prices ( XAUUSD) opened with a strong gap up today and maintained its upward momentum intraday, briefly breaking through $4,100 during the session
placeholder
Middle East War updates: US-Iran pause strikes as Trump weighs up diplomatic optionsHere’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.
Author  FXStreet
Yesterday 01: 32
Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.
Related Instrument
goTop
quote