4 Major Token Unlocks to Watch Next Week: Pixels (PIXEL), Avalanche (AVAX), Space ID (ID), and Ethena (ENA)

Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.

Four major crypto token unlocks are set to occur next week, involving Pixels (PIXEL), Avalanche (AVAX), Space ID (ID), and Ethena (ENA). These unlocks will collectively introduce a significant amount of tokens into the market.

Here's a closer look at each token unlock:

1. Pixels (PIXEL)

Pixels is a multiplayer game on the Ronin blockchain that utilizes the PIXEL token as its in-game currency and for community governance.

On August 19, 54 million PIXEL tokens will be released into circulation and distributed among advisors, the project's treasury, and ecosystem rewards.

2. Avalanche (AVAX)

Avalanche is a decentralized blockchain platform that delivers high performance and scalability, enabling developers to create and deploy decentralized applications (dApps) and custom blockchain networks. The native token of the Avalanche network is AVAX, used for paying transaction fees, staking, and participating in the platform's governance.

Avalanche accounts for nearly all of next week's token unlocks value. On August 19, the project will unlock 9.54 million AVAX tokens worth nearly $200 million. It is worth noting that this is the last unlock that could impact the asset's price.

3. Space ID (ID)

Space ID is a universal decentralized identity protocol that connects people, assets, and dApps across various blockchains. It allows users to use a single domain name to represent their identity across different applications and networks.

On August 22, the project will unlock over 18 million ID tokens and allocate them between the Space ID Foundation, ecosystem fund, and community.

4. Ethena (ENA)

Ethena is a synthetic currency protocol built on Ethereum. It provides a native cryptocurrency solution independent of traditional banking and offers global users a dollar-denominated savings instrument called the ‘Internet Bond.’

The ENA token enables holders to vote on governance proposals. On August 25, the project will unlock almost 15 million ENA dedicated to ecosystem development.