Top 7 Token Unlocks to Watch This Week: Ethereum Name Service(ENS), Near Protocol (NEAR), and More

As the cryptocurrency market continues to evolve, token unlocks remain a crucial event for investors to monitor. This week, several notable projects are set to release significant amounts of tokens, potentially impacting their price and overall market sentiment. In this article, we’ll take a closer look at the top 7 token unlocks to watch out for, according to Coin Post.

Cheelee ($CHEEL) – $209.90M

Launched in February 2023 by NUTSon, Cheelee is a GameFi short video platform that follows an Attention Economy approach.

By allowing users to earn while watching the feed, Cheelee aims to break the barrier to cryptocurrency mass adoption, targeting the 4.6 billion social media users worldwide. With a substantial $209.90 million worth of tokens set to be unlocked, Cheelee is definitely one to keep an eye on.

Near Protocol ($NEAR) – $43.50M

NEAR Protocol, a layer-one blockchain designed as a community-run cloud computing platform, is gearing up to unlock $43.50 million worth of tokens.

NEAR addresses limitations faced by competing blockchains, such as low transaction speeds, low throughput, and poor interoperability. By providing an ideal environment for DApps and creating a developer- and user-friendly platform, NEAR has garnered significant attention in the crypto space.

GMT ($GMT) – $33.50M

GMT, the native token of the FSL ecosystem, has a fixed supply of 6 billion tokens and is set to unlock $33.50 million worth of tokens this week.

GMT is well-integrated into all FSL ecosystem products, serving various purposes such as being burned, unlocking functions, and providing perks to users.

Ethereum Name Service ($ENS) – $31.84M

Ethereum Name Service (ENS), a distributed, open, and extensible naming system based on the Ethereum blockchain, is preparing to unlock $31.84 million worth of tokens.

ENS converts human-readable Ethereum addresses like john.eth into machine-readable alphanumeric codes, making it easier for users to interact with the Ethereum network.

Dymension ($DYM) – $22.60M

Dymension, a project addressing the need for ease of use and economic sustainability in crypto apps, is set to unlock $22.60 million worth of tokens.

With the recent surge of L2s and their custom implementations, multi-sig bridges, and security assumptions, the crypto landscape has become fragmented and chaotic. Dymension aims to tackle these issues head-on.

Sleepless ($AI) – $18.60M

Sleepless AI, a groundbreaking Web3+AI gaming platform, is gearing up to unlock $18.60 million worth of tokens.

By blending artificial intelligence and blockchain technology, Sleepless AI seeks to revolutionize the gaming industry with its unique approach and the extensive expertise of its team.

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ChainGPT ($CGPT) – $14.70M

ChainGPT, a project developing solutions tailored for retail users and enterprises, is set to unlock $14.70M worth of tokens.

ChainGPT believes in developing open technologies and does not gate-keep the LLMs and applications from other Web3 companies, allowing everyone to access their APIs and SDKs.

As these token unlocks unfold, investors and traders will be closely monitoring their impact on the respective projects’ prices and the overall market sentiment.

While some unlocks may lead to increased selling pressure, others may serve as catalysts for growth and adoption. As always, it’s essential to conduct thorough research and exercise caution when making investment decisions based on token unlocks.

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency