Important developments in the cryptocurrency world continue to attract attention. Three leading altcoins are preparing to unlock a significant number of tokens next month. Thus injecting more than $100 million into the circulating supply. This is a very large amount. Apecoin, Optimism, and Aptos are preparing to release their tokens, each with unique impacts on the crypto world. Here are the details…
The unlock event for the APE altcoin project is on September 17
Apecoin, the governance token of the Apecoin DAO and closely associated with Bored Ape Yacht Club’s NFT community, is preparing for its flagship token unlock event. According to Token Unlocks, Apecoin is scheduled to launch 40.6 million APE tokens worth $58.1 million on September 17. This represents approximately 11% of the current circulating supply. The majority of unlocked tokens (worth $38 million) are being distributed to early contributors to the project.
On the other hand, $10.5 million will be allocated to the treasury, $6 million to the developers of Yuga Labs and $3.2 million to the founders of the project. The remaining $397,000 will be directed to charity. Following the release of 15.6 million APE tokens (equivalent to $22.3 million) in the previous unlock event in August, APE experienced a 16% drop in price, falling from $1.80 to $1.51, according to data from CoinGecko. Currently APE is trading at around $1.43.
Optimism unlocks on September 30
Optimism, the layer-2 solution represented by OP Mainnet, is preparing to launch 24.2 million OP tokens on September 30, with a total value of approximately $33.3 million and accounting for 3% of the circulating supply. Approximately $17.6 million of this will be distributed to core participants, while $15.7 million will be reserved for investors. The OP altcoin price dropped 12% to $1.37 following the previous unlock event on August 30. The circulating supply of OP had doubled by the end of May, causing a 25% drop in the token price before gradually recovering.
Aptos token unlocks on September 12
Finally, Blockchain Layer 1 project Aptos will release 4.5 million APT tokens on September 12, representing 2% of the circulating supply and worth $25.2 million. $17.8 million of these tokens will be allocated to the community and $7.4 million to the Aptos Foundation. Aptos previously released 4.5 million tokens in August, causing a 23% drop in the APT token price, falling from $7.20 to $5.51. As of now, APT is trading at around $5.54. In total, more than $175 million in tokens will be unlocked in September. Other notable token unlock events this month include Sui ($17.4 million), dYdX ($14 million), and ImmutableX ($10.2 million).
47912
