Aptos, Stark, XAI, Render prepare for $111 million cliff unlocks next week
- Token Unlocks data reveals that the crypto market will witness $111 million of new unlocks next week.
- Aptos and Starknet will see the highest unlock volume, adding tokens worth $64 million and $25 million to their circulating supply.
- XAI, ENA, RENDER and IO will also witness combined unlocks of $15 million next week.
The crypto market is set to witness cliff unlocks totaling $111 million next week. Aptos (APT) and Starknet (STRK) will see the highest volume, with new tokens entering circulation worth $64 million and $25 million, respectively.
APT, STRK lead next week’s token unlocks
Several crypto projects will see a hike in their circulating supply totaling $111 million next week. The tokens set to for cliff unlocks include Aptos (APT), Starknet (STRK), Xai (XAI), Render (RENDER), Ethena (ENA), io.net (IO) and Cyber (CYBER).
Cliff unlocks refer to periodic unlocks of vested tokens to investors, team members, community members or other key stakeholders. Prices often tend to decline during cliff unlocks if demand fails to catch up with the new supply.
The major highlights for next week's cliff unlock are Aptos (APT) and Starknet (STRK), who will unlock $66 million and $25 million worth of their tokens, respectively.
Weekly Cliff Unlocks : 9-15 Sep '24
— Token Unlocks (@Token_Unlocks) September 6, 2024
$ 111.19m
Unlock Highlights $APT (2.32%) - $66.05m$STRK (3.60%) - $25.07m$RENDER (0.19%) - $3.58m$IO (2.22%) - $3.20m$ENA (0.78%) - $3.12m$CYBER (3.81%) - $2.78m
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( % of cir. supply) pic.twitter.com/CH26xZYWcN
Aptos will unlock 11.31 million APT tokens (2.32% of its supply) next week. These tokens will be distributed across its foundation, community, founder and private investors. Meanwhile, Aptos Labs announced that Libre Protocol launched its tokenized money-market funds on its network on Friday, joining the likes of Solana and Near Protocol.
APT and STRK are currently down nearly 3% and 2% in the past 24 hours.
Other tokens set to add to their current circulating supply include XAI, with 6.3% of its supply worth $6 million entering circulation. IO, RENDER and ENA will each add $3 million worth of new tokens to their circulating supply.
Other tokens with low unlock volume include GMX, PENDLE and GLMR. Each of these tokens will release less than $1 million worth of their supply into circulation.
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