Token unlocks can have a serious impact! After a big unlock, the price of a token generally drops. From a bit to sometimes close to 10%. This September is no different. 3 coins or tokens are about to see a total of around $178 million worth of unlocks.
That’s a serious number, and we may see a major price drop, as currently we don’t see an inflow of money into crypto. So who will buy this extra supply? Having said that, this may also provide a great entry point for some altcoins. But wait for the price to settle first. So, let’s get into this altcoins token list.
#1: Apecoin (APE)
The Apecoin unlock is by far the biggest unlocking event of altcoins this month. The unlock is 11% of their circulating supply. It’s due to happen on 17th September. It’s going to be 40.6 million APE. This has a value of around $54.41 million at the current price.
Top 7 Token Unlocks of the Upcoming Week 🔓
The following tokens with the largest unlock amount will be unlocked next week:
— CryptoRank Platform (@CryptoRank_io) September 9, 2023
APE already has 50% of their tokens unlocked. Their last unlock was on 17th August. However, this was only 4.23% of their circulating supply. Or, in other words, 15.6 million APE tokens, or worth $20.91 million. The APE price dropped from $1.79 to $1.55.
So, this upcoming unlock is a big one. It may well be that the current price of $1.27 will drop again after the unlock. APE holders are in a tight spot. The token keeps moving towards new all-time lows.This upcoming unlock has seven beneficiaries. The top four take almost all the coins. For example:
- 2.22 million tokens or $2.98 million goes to Yuga Labs, the founders.
- 25 million tokens or $33.5 million goes to launch contributors 1.
- 7.34 million tokens or $9.84 million goes to the treasury.
- 4.17 million tokens or $5.58 million goes to Yuga Labs.
That’s $51 million out of the $54 million, right there. So, it’s best to stay clear of Apecoin for now.
#2: Optimism (OP)
The next big unlock for altcoins in September is Optimism. So far, only 25% of their token supply unlocked.
This upcoming unlocking event, is due for the 30th September. So, at the very end of this month. They’re unlocking 3.03% of their circulating supply. That doesn’t sound like too much. However, that is 24.16 million tokens. This equals $31.89 million at the current price of $1.26.
💎 $DYDX and $OP have been gaining tremendous popularity since their launch! Some say that unlocking leads to pump ⬆️. What are your thoughts on this? Share your opinions below! 👇#CoinW #Web3 pic.twitter.com/kvjfGAF6YX
— CoinW Exchange (@CoinWOfficial) September 1, 2023
Their last unlocking event was a month prior, on 30th August. The price dropped from $1.49 to $1.29. That’s around 13% in less than a week. Their vesting schedule lasts until the end of August in 2027. Each month with a similar amount to unlock. This current unlocking event sees two beneficiaries:
- 12.75 million tokens or $16.83 million to the core contributors.
- 11.41 million tokens or $15.05 million to investors.
So, there could be some selling pressure here. This may see a price drop. However, this can also be a good entry point
#3: Aptos (APT)
The third biggest unlock of altcoins in September is for Aptos. It’s due for the 12th September, so rather soon. The unlocking event sees 1.98% of their circulating supply getting unlocked. That’s 4.54 million APT or $24.85 million.
So far, Aptos only unlocked 18% of their total locked supply. In November, we will see the first big token unlocks for Aptos. We will see six big monthly token unlocks, until April 2024. That’s where I expect some negative price impact on APT.
🚨 Unlocks Alert $APT 🚨
⏳ ~$147m unlocks are coming
🔥 10.89% of circ. supply will be unlocked
On November 12th, 2023, get ready for a massive cliff unlock as:
– Core contributors
Don't miss out!
Save the date on your calendar now! 🗓️… pic.twitter.com/4POC73fLjG
— Token Unlocks (@Token_Unlocks) September 1, 2023
However, let’s get back on track. Their last unlocking event was on 12th August. The APT price dropped from $7.20 on the 12th to $5.52 on the 18th August. Currently, the price is $5.29, so there hasn’t been too much movement. This unlocking event sees two beneficiaries:
- 1.33 million APT or $7.29 million goes to the Foundation.
- 3.21 million APT or $17.56 goes to the community.
In total, Aptos reserved 51% of their tokens for the community. There are quite some rumors floating around about a second airdrop. However, there’s no date and no description on how to qualify for this potential airdrop.
My advice is to get interact with dApps on the Aptos chain. Go to their NFT marketplaces and trade NFTs. Also, you can bridge money into Aptos and of course, create Aptos wallets. For instance, Martian or Pontem.
Do you own any of the mentioned tokens? How do you see the unlocking events for these tokens? Sit still and hodl or as a great entry opportunity?
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