I'm pretty sure someone will snag him. He's only 22 years old, and didn't get that many carries last season.
Even if nobody claims him, he'd definitely be given a spot on the Broncos' practice quad, like Irish_Demon stated.
They also cut Watson, and gave him a short-term injury settlement.
Link: https://www.si.com/nfl/broncos/news/broncos-waive-rb-audric-estime-fallout