Altcoin unlock events happen frequently. Many times, we may observe a temporary pullback in the token price. So, this is something to be aware of. Now, let’s take a look at which projects are approaching their major token unlock events.
First altcoin to unlock: ImmutableX (IMX)
ImmutableX (IMX) always seems to be on this token unlock list. One reason is that 47.73 percent are still locked. The maximum and total supply is 2 billion tokens. 1.04 billion tokens are currently in circulation. Its market cap is $646 million and the current IMX price is $0.635284. The circulating supply will change today, June 18, 2023, with another 18 million IMX released. That’s 0.9%, or $11 million. ImmutableX is all about NFTs and Blockchain games.
61 million altcoins will enter the market for Sui (SUI)
Sui (SUI) plans to unlock the token on July 3. This will be a big unlock event. 61 million SUIs will be released. With the current SUI price of $0.751683, this is no less than $45.9 million. The maximum and total supply of SUI is 10 billion tokens. Currently, only 28 million are in circulation. Therefore, it would be right to expect a temporary price drop. 93.83 percent of SUI tokens are still locked. Sui currently has a market capitalization of $396 million. Sui is a layer-1 blockchain. As Cryptokoin.com also reported, it uses the programming language called Move, similar to Aptos.
aptos (APT)
The next token unlock event on our token unlock list is Aptos (APT). APT is about to unlock 4.5 million tokens on July 12. This equates to a total of $29 million at the current APT price of $6.56. APT has an infinite maximum supply and a total supply of 1 billion tokens. There are currently 206 million APTs in circulation. Its current market capitalization is $1.3 billion. However, 83.37 percent of the total supply remains locked.
Aptos saw a chaotic start when it launched in late 2022. However, the token performed 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 the team’s use of the Move programming language. They developed this during their time on Meta’s now-defunct Diem project. It also offers Aptos, DeFi projects and an active NFT space.
7.2 million will be unlocked for Flow (FLOW)
The third token in this token unlock list is Flow (FLOW). This token is scheduled to be unlocked on July 16. On this date, 7.2 million FLOWs will be unlocked. This equates to $3.4 million at the current FLOW price of $0.475704. Maximum and total supply is 1.4 billion FLOW. 1 billion FLOW of this is already in circulation. The other 43.63 percent remain locked. Its market value is $492 million.
Flow is also a layer-1 Blockchain. It is a fast, decentralized layer-1 with low-cost transactions. TPS (Transactions Per Second) aims to reach 10,000. Big brands like NFA, NBA and Ticketmaster already use Flow. Flow is active in Blockchain games and NFT.
Last coin on the list: ApeCoin (APE)
The ApeCoin (APE) token is expected to be unlocked for an unlock event on July 17. 15.6 million APEs will be unlocked, which is equivalent to $33.5 million at the current APE price of $2.15. 52.93% of APE tokens are still locked. This is out of the maximum and total supply of 1 billion tokens. 368.5 million tokens are currently in circulation. APE has a market capitalization of $792 million. APE is the native token of BAYC (Bored Ape Yacht Club). At launch, BAYC and MAYC (Mutant Ape Yacht Club) NFT holders received an ApeCoin airdrop.
