This Week Unlocks: ApeCoin Surpasses $50M, Aptos Exceeds $20M; Moonbeam, Flow, and Lido in Queue
Luisa Crawford Sep 11, 2023 09:48
Six cryptocurrency projects, including ApeCoin (APE) and Aptos (APT), are set to release significant tokens this week. Moonbeam will release 9.7 million GLMR tokens, valued at $1.74 million, on September 11; Aptos will unlock 4.54 million APT tokens, valued at $23.85 million, on September 12. Lido will make available 1.5 million LDO tokens, Euler will release 150,000 EUL tokens, Flow will unlock 7.29 million FLOW tokens, and ApeCoin will unlock 40.6 million APE tokens, valued at $51.6 million.
Data from Token Unlocks indicates that six cryptocurrency projects are set to release a significant number of tokens this week. Among these, ApeCoin (APE) and Aptos (APT) are poised for substantial unlocks.
On September 11 at 08:00 (UTC), Moonbeam will release 9.7 million GLMR tokens, valued at approximately $1.74 million. This constitutes about 1.34% of its circulating supply.
Following closely, on September 12 at 08:00, Aptos is set to unlock 4.54 million APT tokens. With an estimated value of $23.85 million, this represents nearly 2% of its circulating supply.
On September 13 at 11:33, Lido will make available 1.5 million LDO tokens, amounting to a value of roughly $2.22 million, which is about 0.17% of its circulating supply.
Euler, on September 14 at 07:17, will release 150,000 EUL tokens. These tokens are valued at approximately $400,000, making up 0.83% of its circulating supply.
On September 16 at 08:00, Flow is set to unlock 7.29 million FLOW tokens. With a valuation of around $3.09 million, this represents 0.70% of its circulating supply.
Lastly, on September 17 at 08:00, ApeCoin will unlock a staggering 40.6 million APE tokens. Valued at an estimated $51.6 million, this constitutes a significant 11.02% of its circulating supply.
This week, significant token unlocks are set to impact the crypto market. "Unlocking" in the cryptocurrency world refers to the release of tokens that were previously locked or restricted from being sold or transferred. Such restrictions are often set during initial offerings or as part of vesting agreements to stabilize token prices and incentivize long-term holding. These unlocks can influence market dynamics, as a sudden increase in available tokens might affect supply and demand.
About ApeCoin ($APE)
ApeCoin, an ERC-20 governance and utility token, operates within the APE Ecosystem, promoting decentralized community building in web3. Governed by the ApeCoin DAO, holders decide the utilization of the ApeCoin DAO Ecosystem Fund. The APE Foundation, inspired by Yuga Labs’ Bored Ape Yacht Club, oversees the APE Ecosystem, with an administrative council executing DAO decisions. Unique for its governance capabilities, ApeCoin facilitates participation in the DAO and offers exclusive ecosystem access. With a fixed supply of 1 billion tokens, 30.25% were in circulation as of March 17, 2022, set to increase over 48 months.
About Aptos
Aptos, a Layer 1 Proof-of-Stake blockchain, utilizes the Move programming language, designed by Meta's Diem engineers. Aiming for mainstream web3 adoption, it supports DApps addressing real-world issues and boasts a potential 150,000 tps via parallel execution. After securing $350 million in funding from notable investors like a16z, FTX Ventures, and Binance Labs, its valuation reached $4 billion by September 2022. Aptos's mainnet launched in October 2022. The native currency, APT, has a total supply of 1 billion, with a current circulation of 130 million. Distribution includes allocations for community growth, core contributors, and investors, with specific vesting schedules.
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