Important developments in the crypto money world continue to draw attention. The three leading altcoins are set to unlock a significant number of tokens next month. Thus, it injects more than $100 million into the circulating supply. This is quite a large amount. Apecoin, Optimism and Aptos are all set to release their tokens, each with unique effects on the crypto world. Here are the details…
Unlock event for APE altcoin project on September 17
Apecoin, the management token of the Apecoin DAO and closely associated with the NFT community of the Bored Ape Yacht Club, is gearing up for its most important token unlocking event. According to Token Unlocks, Apecoin is scheduled to launch 40.6 million APE tokens worth $58.1 million on September 17. This represents about 11% of the current circulating supply. The majority of unlocked tokens (worth $38 million) are distributed to early contributors to the project.
On the other hand, 10.5 million dollars will be allocated to the treasury, 6 million dollars to the developers of Yuga Labs and 3.2 million dollars to the founders of the project. The remaining $397,000 will go towards charity. After the release of 15.6 million APE tokens (equivalent to $22.3 million) at the previous unlock event in August, APE saw a 16% drop in price from $1.80 to $1.51, according to data from CoinGecko. Currently, APE is trading at around $1.43.
Optimism unlocks on September 30
Layer-2 solution Optimism, represented by OP Mainnet, is set to launch 24.2 million OP tokens on September 30th, with a total value of approximately $33.3 million, 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 after the previous unlock event on August 30. The OP’s circulating supply had doubled at the end of May, causing a 25% drop in the token price before gradually recovering.
Aptos’ token unlock also opens on September 12
Finally, Blockchain Layer 1 project Aptos will launch 4.5 million APT tokens on September 12, worth $25.2 million, equivalent to 2% of the circulating supply. $17.8 million of these tokens will be allocated to the community and $7.4 million to the Aptos Foundation. Aptos had previously released 4.5 million tokens in August, causing a 23% drop in APT token price 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 ($17.4M), dYdX ($14M), and ImmutableX ($10.2M).
