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
Ethereum slides below $3,000 as sellers defend $3,020 and $2,880 becomes the key lineEthereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
Author  Mitrade
Jan 21, Wed
Ethereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
placeholder
Gold moves away from record high as safe-haven demand fades on easing trade war concernsGold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.
Author  FXStreet
Jan 22, Thu
Gold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.
placeholder
Bitcoin Slides Into Weekly Close as Bulls Confront $86K Price TestBitcoin has started to lose momentum as U.S. futures prepare for opening, with markets bracing for anticipated volatility catalysts. The cryptocurrency witnessed multi-day lows leading up to the end of the week, as investors face a looming period of macroeconomic uncertainty.
Author  Mitrade
Yesterday 02: 42
Bitcoin has started to lose momentum as U.S. futures prepare for opening, with markets bracing for anticipated volatility catalysts. The cryptocurrency witnessed multi-day lows leading up to the end of the week, as investors face a looming period of macroeconomic uncertainty.
placeholder
Cardano Price Forecast: ADA Selling Pressure Builds, Putting $0.27 Back in FocusCardano trades near $0.34 after three weeks of declines, with Binance futures open interest down to $108.55M and bearish RSI/MACD signals keeping risks tilted toward $0.32 and potentially $0.27.
Author  Mitrade
Yesterday 06: 19
Cardano trades near $0.34 after three weeks of declines, with Binance futures open interest down to $108.55M and bearish RSI/MACD signals keeping risks tilted toward $0.32 and potentially $0.27.
placeholder
Santiment Says XRP and Ethereum Look “Undervalued” on 30-Day MVRVSantiment says XRP and Ethereum sit in a 30-day MVRV “undervalued” zone, with XRP at -5.7% and ETH at -7.6%, while Bitcoin is listed at 3.7% and XRP has rebounded above $1.9 after dipping to $1.8 on Sunday.
Author  Mitrade
5 hours ago
Santiment says XRP and Ethereum sit in a 30-day MVRV “undervalued” zone, with XRP at -5.7% and ETH at -7.6%, while Bitcoin is listed at 3.7% and XRP has rebounded above $1.9 after dipping to $1.8 on Sunday.
Related Instrument
goTop
quote