Six Cryptocurrency Projects Set to Release Tokens This Week
Data from Token Unlocks reveals that several cryptocurrency projects will be unlocking a significant number of tokens this week. ApeCoin (APE) and Aptos (APT) are among the projects with substantial unlocks scheduled.
Moonbeam’s Token Unlock
Moonbeam is set to release 9.7 million GLMR tokens on September 11 at 08:00 (UTC), valued at approximately $1.74 million. This represents about 1.34% of its circulating supply.
Aptos Token Unlock
Aptos is scheduled to unlock 4.54 million APT tokens on September 12 at 08:00. With an estimated value of $23.85 million, this accounts for nearly 2% of its circulating supply.
Lido’s Token Unlock
Lido will make available 1.5 million LDO tokens on September 13 at 11:33, amounting to a value of roughly $2.22 million, which is about 0.17% of its circulating supply.
Euler’s Token Unlock
Euler will release 150,000 EUL tokens on September 14 at 07:17. These tokens are valued at approximately $400,000, making up 0.83% of its circulating supply.
Flow’s Token Unlock
Flow is set to unlock 7.29 million FLOW tokens on September 16 at 08:00. With a valuation of around $3.09 million, this represents 0.70% of its circulating supply.
ApeCoin’s Token Unlock
ApeCoin will unlock 40.6 million APE tokens on September 17 at 08:00. Valued at an estimated $51.6 million, this constitutes a significant 11.02% of its circulating supply.
Impact of Token Unlocks on the Crypto Market
This week’s significant token unlocks can have an impact on the crypto market. “Unlocking” refers to the release of tokens that were previously restricted. These unlocks can influence market dynamics as they increase the available tokens and potentially affect supply and demand.
About ApeCoin (APE)
ApeCoin is an ERC-20 governance and utility token that operates within the APE Ecosystem. It promotes decentralized community building in web3 and is governed by the ApeCoin DAO. ApeCoin holders decide the utilization of the ApeCoin DAO Ecosystem Fund. With a fixed supply of 1 billion tokens, its circulation is set to increase over 48 months.
About Aptos
Aptos is a Layer 1 Proof-of-Stake blockchain that utilizes the Move programming language. It aims for mainstream web3 adoption and supports DApps addressing real-world issues. Aptos secured $350 million in funding and has a valuation of $4 billion. Its native currency, APT, has a total supply of 1 billion with a current circulation of 130 million.
Hot Take: Unlocking Tokens and Its Impact on the Market
This week, the crypto market is bracing for significant token unlocks from various projects. These unlocks can disrupt the supply and demand dynamics, potentially impacting token prices. Investors and traders should closely monitor these events as they may present opportunities for trading or long-term holding strategies. Token unlocks are a crucial aspect of the cryptocurrency ecosystem, as they allow previously locked tokens to enter circulation. This can influence market sentiment and overall market performance. It’s essential to stay informed about token unlock schedules and their potential implications.
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