Nine Key Token Unlocks to Monitor, From $ROSE to $ADA: Phoenix Group

The crypto market is preparing for multiple substantial token unlocks in the next several days, increasing the value of the circulating supply by millions of USD.

Oasis Network ($ROSE) to Lead Token Unlocks in 2024

As 2023 draws to a close and a new year begins, Phoenix Group has identified nine key token unlocks to watch in 2024. These events will see millions of tokens hit the market, potentially impacting the price and sentiment.

The largest unlock will occur on November 18, when Oasis Network will release $177.43 million worth of $ROSE tokens. This event, which comprises 1.77% of the network’s entire supply and is valued at $15.33 million, will mark a significant development in the privacy-focused blockchain platform's market dynamics.

Manta Network, a company specializing in zero-knowledge technologies, will release 7.12 million $MANTA tokens on the same day. This event, which is valued at $5.79 million and equates to 0.71% of the total supply, will draw attention in the Manta Network ecosystem.

Fusionist, a blockchain focused on gaming and the metaverse, will also unlock 1.62 million $ACE tokens on November 18, an event that will garner interest among gamers and Web3 communities.

On November 19, Pixels will unlock 53.55 million $PIXEL tokens, valued at $10.88 million. This event, which is linked to a company active in the digital assets sector, will likely increase activity in the Pixels ecosystem.

In another development, BENQI, an Avalanche-based decentralized finance platform, will unlock 105.88 million $QI tokens, an event that could impact the protocol's lending and borrowing mechanism.

Polyhedra, which focuses on zero-knowledge proof in interoperability, will also unlock 15.50 million $ZKJ tokens, valued at $17.38 million. This event could lead to major changes in trading volume.

Finally, Ethena will release 12.86 million $ENA tokens on November 20, an event that may have a large impact on Ethena's DeFi collateral management.

These token unlocks, ranging from smaller implications to substantial events, will culminate in a year of significant achievements on projects.