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
US September Nonfarm Payrolls Preview: Job Growth May Cool, How Will US Stocks, Dollar and Gold React?On Friday, October 2 (EDT), the U.S. will release its September nonfarm payrolls report, with markets focusing on whether job growth can sustain August's rebound and whether the data will
Author  TradingKey
9 hours ago
On Friday, October 2 (EDT), the U.S. will release its September nonfarm payrolls report, with markets focusing on whether job growth can sustain August's rebound and whether the data will
placeholder
Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflationGold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday. 
Author  FXStreet
14 hours ago
Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday. 
placeholder
Gold Price Forecast: US August PCE Imminent, Will Gold Prices Rise or Fall Short-Term?As of the European session on September 30, gold prices (XAUUSD) continued to recover after a sharp drop earlier this week, reclaiming $4,200 intraday, with the latest price trading near
Author  TradingKey
Sep 30, Wed
As of the European session on September 30, gold prices (XAUUSD) continued to recover after a sharp drop earlier this week, reclaiming $4,200 intraday, with the latest price trading near
placeholder
【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonightThe 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
Author  Suzie
Sep 30, Wed
The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
placeholder
【Daily Brief】The dollar ground higher for six days — and the AUD fell 2% in the very week the RBA hiked to a 15-year highThe dollar index held above 101 while the Australian dollar slid to a two-month low of 0.6976, a 2.02% six-session loss, even though the RBA raised rates to 4.60% and Australian CPI printed 4.0%. The yen is the only major currency gaining, ahead of Japan's monthly intervention tally at 7pm JST.
Author  Irene Q.
Sep 30, Wed
The dollar index held above 101 while the Australian dollar slid to a two-month low of 0.6976, a 2.02% six-session loss, even though the RBA raised rates to 4.60% and Australian CPI printed 4.0%. The yen is the only major currency gaining, ahead of Japan's monthly intervention tally at 7pm JST.
Related Instrument
goTop
quote