- 18.53 million ADA tokens were unlocked today, valued at $6.62 million.
- The next unlock is scheduled for October 12, releasing a similar quantity.
- ADA’s price rose 3.5% following the most recent token release.
Cardano (ADA) unlocked 18.53 million ADA tokens this morning, worth roughly $6.62 million. With the increased supply, market watchers are watching to see how this release will affect ADA’s price. According to Token Unlock , 85% of ADA’s total supply is currently unlocked, with 38.19 billion ADA tokens in circulation.
Meanwhile, 6.81 billion ADA, representing 15.14% of the total supply, remains locked. Notably, another unlock is scheduled for next week, which will release an additional 18.53 million ADA valued at around $6.50 million.
This morning’s token unlock of 18.53 million ADA adds to the already large circulating supply but represents only 0.05%. This relatively small increase may have a limited immediate impact on the price. However, even small changes in circulating supply can influence liquidity and demand.
ADA Price Movement Following Recent Unlock
On October 2, the Cardano team also released 18.53 million ADA tokens into circulation. At that time, ADA traded at a low of $0.3366. Since then, the price of ADA has surged to $0.3636, marking a significant 8.02% gain since the last unlock.
This indicates that despite inflationary pressures, Cardano has trended upwards, contrary to expectations of a decline due to selling pressure.
Can Today’s Unlock Trigger a Price Surge?
Following the ADA unlock at 12:00 AM UTC, the price of ADA has posted a 3.5% gain, trading above $0.36 at press time.
Another ADA unlock is scheduled for October 12, when tokens valued at approximately $6.50 million will be released. How the price will react then remains to be seen. It is worth mentioning that these unlocked funds are allocated to staking and treasury fund reserves.
Crypto analyst Dan Gambardello has recently shared his price prediction for ADA, providing a timeline for it to reclaim the $1 mark. According to him, “Cardano can easily be back above $1 between now and December, and some people will be flabbergasted.” He believes the coin could see a massive surge, potentially reaching between $5 and $10.
While ADA is currently outside the top ten cryptocurrencies by market capitalization, trailing Tron (TRX), a notable market watcher, sees this as “always a buy signal” for accumulating more of this token.
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