Expert Opinion: Don’t Buy These 3 Altcoins For Now, Wait!

Token un-lock events take place every month. Some are large and can have an impact on a token’s price. This month, three notable altcoins will unlock a combined total of around $178 million. This is a serious figure and we could see a big price drop as there is no inflow of crypto at the moment. However, according to crypto expert Camille Lemmens, it’s possible that it makes a good entry point. However, the expert recommends waiting for the price to settle first. In this direction, the expert says to stay away from these 3 altcoins for now.

Top-ranked altcoin: Apecoin (APE)

Apecoin’s un-lock event is by far the largest altcoin unlock event this month. Unlocking accounts for 11% of the circulating supply. This event will take place on September 17. That will be 40.6 million APE. This has a value of about $54.41 million at current price.

50% of APE’s tokens are unlocked. The last unlock for the altcoin took place on August 17. However, this only accounted for 4.23% of the circulating supply. Or to put it another way, 15.6 million APE tokens (worth $20.91 million). During this period, the APE price dropped from $1.79 to $1.55. So, this upcoming unlock is a big deal. It is possible that the current price will drop again after unlocking. APE owners are in trouble. The token continues to push towards all-time lows. This upcoming unlock has seven beneficiaries. The first four take almost all the coins. For example:

• 2.22 million tokens ($2.98 million) go to the founders, Yuga Labs.
• 25 million tokens ($33.5 million) go to the first contributors to the launch.
• 7.34 million tokens ($9.84 million) will go to the treasury.
• 4.17 million tokens ($5.58 million) go to Yuga Labs.

This means 51 million dollars out of 54 million dollars. So, it’s best to stay away from Apecoin for now.

Optimism (OP) comes in second place!

Optimism will be the next big unlock among altcoin projects in September. So far, only 25% of the token supply has been unlocked. This upcoming unlock event will take place on September 30. So, at the end of this month. They will unlock 3.03% of their circulating supply. That doesn’t sound like much. However, that’s 24.16 million tokens. This corresponds to $31.89 million at the current price of $1.26.

The last unlock event happened a month ago, on August 30. This development dropped the altcoin price from $1.49 to $1.29. That equates to about 13% in less than a week. The progress payment calendar continues until the end of August 2027. A similar amount will be unlocked each month. There are two beneficiaries in this current unlock event:

• 12.75 million tokens ($16.83 million) will go to core participants.
• 11.41 million tokens ($15.05 million) will go to investors.

So it’s possible that there is some selling pressure here. This may cause the OP price to drop. However, it’s also likely to be a good entry point.

Last ranked altcoin: Aptos (APT)

Aptos will unlock the third largest altcoins in September. The opening will take place on September 12, that is, tomorrow. At the Un-lock event, the project will unlock APT, which corresponds to 1.98% of the circulating token supply. That means 4.54 million APT ($24.85 million). As you follow on Kriptokoin.com, Aptos has only unlocked 18% of its total locked supply so far. In November, we will see the first major token unlocks for Aptos. By April 2024, we will witness the unlocking of six major monthly tokens. At this point, some negative price impact on APT is possible.

However, let’s get back to the topic anyway. The last unlock event took place on August 12. APT price dropped from $7.20 on August 12 to $5.52 on August 18. Currently the price is $5. There are two beneficiaries in this unlock event:

• 1.33 million APT ($7.29 million) will go to the Foundation.
• 3.21 million APT ($17.56) will go to the community.

The opinions and predictions in the article belong to the expert and are definitely not investment advice. We strongly recommend that you do your own research before investing.