This week, several significant token unlocks are expected to impact prices and sentiment in the cryptocurrency market. We will explore key events for SPEC, ENA, EIGEN, MAVIA, IMX, MOVE, and RENDER.
SPEC: Unlock and Its Implications
The unlock for SPEC is scheduled for August 5 at 08:00 (UTC+8). The amount unlocked will be 3.62 million SPEC, approximately 17.57% of the total supply, valued at around $1.8 million. SPEC is a hybrid memecoin and restaking project built on BNB Chain. Releasing nearly 18% of the total supply may lead to potential selling pressure, depending on social sentiment and speculative demand.
ENA: Ethena's Stablecoin System
The unlock for ENA is set for August 5 at 15:00 (UTC+8), with 172 million ENA (around 2.70% of total supply) being released, valued at approximately $95.8 million. ENA is the governance token of Ethena, a synthetic stablecoin protocol backed by leading VCs. Despite its small percentage, the USD value of this release will attract close attention from investors.
MAVIA: Mobile Strategies in Web3
The MAVIA token unlock will take place on August 6 at 08:00 (UTC+8), releasing 11.89 million MAVIA, about 23.03% of the total supply, valued at $1.9 million. MAVIA powers Heroes of Mavia, a mobile strategy game by Skrice Studios. This release introduces a significant portion of tokens to the market, potentially creating short-term volatility as guilds and early backers may seek to exit their positions.
This week is expected to be significant due to multiple token unlocks that may influence liquidity, prices, and market expectations. Careful observation of these events is important for both short-term traders and long-term holders.
