Token unlock events happen frequently. Plenty of times, we can observe a temporary pullback of the token price. So, this is something to be aware of. That’s why we always provide the max, total, and circulating supply of a token when we discuss its price.
So, let’s take a look at which 5 projects have some big token unlock events coming up.
1) ImmutableX (IMX)
It seems like ImmutableX (IMX) is always on this token unlock list. Part of this reason is that at Altcoin Buzz, we like this project and we mention it often. Another reason is that 47.73% of their tokens are still locked. The max and total supply are 2 billion tokens. 1.04 billion tokens currently circulate. It has a market cap of $646 million and the current IMX price is $0.635284.
The circulating supply will change when today, July 18th, 2023, and another 18 million IMX will be set free. That’s 0.9% or $11 million. ImmutableX is all about NFTs and blockchain gaming. It won’t come as a surprise if this crypto market segment will see a strong comeback. ImmutableX will be having a front-row seat. It has various products in place that help maintain Immutable’s leading role. For example,
- Passport – instant wallet onboarding.
- Minting options and tools.
- An orderbook and marketplace.
- An EVM zk-rollup for games.
Source: IMX unlock page
2) Sui (SUI)
Sui (SUI) has its token unlock scheduled for the 3rd of July. And it’s going to be a big unlock event. 61 million SUI will hit the market. At a current SUI price of $0.751683 that’s no less than $45.9 million. The max and total SUI supply are 10 billion tokens. Currently, only 28 million are in circulation. So, it’s fair to expect a temporary price dump. Another 93.83% of SUI tokens are still locked. Sui currently has a market cap of $396 million.
Sui is a layer 1 blockchain. It offers an interesting blockchain gaming environment. Like Aptos (coming up next), they use the new Move programming language. Both the Aptos and Sui teams formerly worked at Diem/Meta.
Source: Sui unlock page
3) Aptos (APT)
The next token unlock event up in our token unlock list is Aptos (APT). It is about to unlock 4.5 million tokens on the 12th of July. This equals at a current APT price of $6.56 a total of $29 million. APT has an infinite max supply and a total supply of 1 billion tokens. Currently, 206 million APT circulate. Its current market cap is $1.3 billion. However, another 83.37% of the total supply remains locked.
Aptos saw a chaotic start at launch in late 2022. Nonetheless, the token did well earlier this year. In January, it reached its ATH at $19.92. Aptos is a layer 1 blockchain. One of its unique features is that the team uses the Move programming language. They developed this during their time at the now defunct Diem project by Meta. Furthermore, Aptos offers DeFi projects and an active NFT space.
Source: Aptos unlock page
4) Flow (FLOW)
The third token in this token unlock list is Flow (FLOW). It has an unlock scheduled for the 16th of July. That date, 7.2 million FLOW will unlock. That equals $3.4 million at a current FLOW price of $0.475704. The max and total supply are 1.4 billion FLOW. Out of this, 1 billion FLOW already circulate. Another 43.63% remain locked. It has a market cap of $492 million.
Flow is also a layer 1 blockchain. It’s a fast, decentralized layer 1 with low-cost transactions. It aims to get to a TPS (Transactions per Second) of 10,000. Big brands like the NFA, NBA, and Ticketmaster already use Flow. Flow is active in blockchain games and NFT spaces. For example, the gaming market needs a fast ad cheap blockchain.
Source: FLOW unlock page
5) ApeCoin (APE)
The ApeCoin (APE) token unlock is due on the 17th of July for an unlock event. 15.6 million APE will unlock, which equals $33.5 million at a current APE price of $2.15. There are still 52.93% of APE tokens locked. That’s out of a max and total supply of 1 billion tokens. 368.5 million tokens already circulate. APE has a market cap of $792 million.
APE is the native token of BAYC (Bored Ape Yacht Club). At launch, holders of a BAYC and MAYC (Mutant Ape Yacht Club) NFT received an ApeCoin airdrop. If you own APE, you can govern the platform through the DAO. Yuga Labs is the team behind this coin. They are also behind the Otherside. Last year they also acquired the CryptoPunks and Meebits.
Source: ApeCoin unlock page
Conclusion
We looked at 5 upcoming token unlock events. In general, this means that you may see a temporary price drop for these tokens. The tokes we covered were ImmutableX (IMX), Sui (SUI), Aptos (APT), Flow (FLOW), and ApeCoin (APE).
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