Crypto Networks Set for Significant Token Unlocks
Three crypto networks, Optimism, Aptos, and ApeCoin, are preparing for significant token unlocks this month. These unlocks will release over $100 million worth of tokens into the circulating supply. Here are the key points:
ApeCoin:
– ApeCoin, the governance token of the ApeCoin DAO, will release 15.6 million APE tokens on July 17.
– This represents 4.23% of its circulating supply, valued at $34.3 million.
– The majority of the unlocks will go to the project’s treasury, with a portion allocated to the developer and founder.
– ApeCoin released the same amount of tokens in June, which caused a temporary decrease in price.
Aptos:
– Layer 1 blockchain Aptos will release 4.5 million tokens on July 12.
– This is equivalent to 2.17% of its circulating supply, amounting to $33.9 million.
– The community will receive the majority of the unlocked tokens, with the rest going to the Aptos Foundation.
– A previous unlock in June led to a temporary price drop but has since seen a 20% increase.
Optimism:
– Ethereum Layer 2 Optimism, now known as OP Mainnet, will release 24.2 million OP tokens on July 30.
– This represents 3.75% of the circulating supply, valued at $32.4 million.
– Core contributors will receive a portion of the unlocked tokens, while the remainder will go to investors.
– The previous token unlock in June resulted in a 10% price increase for OP.
In conclusion, these upcoming token unlocks in the crypto networks of ApeCoin, Aptos, and Optimism are expected to have an impact on their respective token prices. Investors and community members should keep an eye on these developments.
Hot Take:
The token unlocks can create volatility in the market, with potential price drops followed by recoveries. It will be interesting to see how these networks manage the release of their tokens and how it affects their overall ecosystem.
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