Next week token unlocking notice: APE unlocks over $50 million, APT, GLMR, and 6 other projects worth attention.
Organize | Odaily
Editor | Loopy
Next week, the unlocking of tokens for 6 projects is worth paying attention to, including well-known projects like APT and APE.
Among them, the unlocking size of APE is the largest, with an unlocking amount of over 50 million US dollars. In terms of unlocking shares, it also exceeds 10% of the circulating supply.
GLMR is also a project worth paying attention to. Although its unlocking amount and share of the circulating market cap are far smaller than APE, the liquidity of this project is much lower than that of well-known projects. The unlocking amount of GLMR in this case is 1.35 times the daily trading volume and still deserves the attention of investors.
The specific unlocking details are as follows:
Large Unlocking
ApeCoin
Project website: https://apecoin.com/
Official Twitter: https://twitter.com/apecoin
Total unlocked quantity: 40.6 million coins
Total unlocked amount: approximately 51.16 million US dollars
ApeCoin (APE) is the governance and utility token of the APE ecosystem, with a total supply of 1 billion coins. The project is community-controlled and established, with ApeCoin DAO as its governing organization, allowing all APE holders to participate in governance decision-making. In addition to DAO, Yuga has also established APE Foundation as the legal regulator of the DAO. The Foundation's board of directors consists of 5 members.
Among the tokens unlocked this week, APE is the most notable one. When this token was initially launched, BAYC holders received a large amount of APE tokens through an airdrop.
APE is known for its issuer Yuga Labs, the parent company of BAYC, which has gained popularity in the NFT ecosystem. Yuga has stated that it will actively utilize APE as the primary token for all new products and services. In addition to BAYC, Yuga also owns the two major IPs CryptoPunks and Meebits.
Since its initial release, APE has received a lot of attention due to its high level of controversy. Its large holdings by whales and reserved tokens have also sparked criticism.
Currently, 50% of APE tokens have been unlocked. 50% are still locked. The unlocked quantity this time is large, accounting for over 11% of the circulating supply.
In this unlocking, Launch Contributors are the largest recipients of the unlocked tokens, receiving 25 million tokens (worth over $31 million). Additionally, the Community Treasury, Yuga Labs, and Yuga Labs Founders received 7.34 million, 4.17 million, and 2.22 million tokens respectively.
According to Coingecko data, APE's 24-hour trading volume is only $43 million, which is even lower than the market value of the unlocked tokens. Undoubtedly, if all the unlocked tokens were to enter the market (although this is unlikely), it would have a significant impact on the market.
From the release model perspective, although large-scale unlocks occur regularly every month, this unlocking is larger in scale compared to previous ones.
Aptos
Official website: https://aptoslabs.com/
Official Twitter: https://twitter.com/Aptos_Network
Unlocking quantity: 4.54 million tokens
Unlocking amount: Approximately $23.94 million
Aptos is one of the highly anticipated projects in the Move ecosystem, backed by Facebook's background and technology. This new Layer 1 chain, supported by prominent capital, aims to provide users with a high-performance and high TPS next-generation PoS blockchain to promote the adoption of blockchain at the application layer and to welcome billions of users in the crypto world.
In terms of circulation, the amount of unlocked tokens in this instance is still considerable. Although it is far less than APE's "over 10%," the fact that it accounts for over 2% of the circulation is still worth noting.
APT token economics show that currently, as much as 82% of tokens are still locked, with only 18% in circulation.
APT this unlocking amount is about 23.94 million US dollars, this number is worth investor attention. Compared with the trading volume, CoinGecko data shows that the 24-hour trading volume of APT is about 48.5 million US dollars.
But from the unlocking history, APT has unlocked tokens of similar magnitudes every month before. This also provides investors with sufficient historical data for reference.
MoonBeam
Project website: https://moonbeam.network/
Official Twitter: https://twitter.com/MoonbeamNetwork
This unlocking quantity: 9.68 million tokens
This unlocking amount: (approximately) 1.75 million US dollars
MoonBeam is the EVM network of the Polkadot ecosystem. Compared with newer projects such as Aptos and ApeCoin, the MoonBeam project is "older" and its release is more comprehensive. Currently, the majority of tokens have entered circulation.
Only in this case, the unlocking amount in this unlocking accounts for only 1.34% of the total circulation. Although this number is not as significant as the unlocking amounts of APT and APE, it is still worthy of our full attention.
The market always "prefers" newer cryptocurrencies, GLMR is older and lacks trading activity. CoinGecko data shows that its 24-hour trading volume is only 1.3 million US dollars. Although the unlocking amount in this case is only 1.75 million US dollars, which is much lower than APE and APT. But compared with the trading volume, it is 1.35 times the daily trading volume.
From the overall unlocking progress, GLMR has started to gradually unlock in small amounts stably and slowly. However, if all the unlocking amounts are sold, the market liquidity may be difficult to withstand such a scale of selling pressure. This unlocking is worth investor attention and timely capture of potential trading opportunities or holding risks.
Regular unlocking
In addition to the aforementioned large-scale unlocking, LDO, EUL, FLOW also have small-scale unlocks with circulating supply of less than 1%.
