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When it comes to cryptocurrencies, one of the points that comes to investors’ minds is locked coins. Investors are always curious about when these coins will be released and how they will affect the price.
When Will Token Locks Be Released?
According to a tweet shared by Token Unlocks, a follower of Tokenomics, the locks of tokens worth more than $69 million will be released this week. The most important unlock events that investors may want to consider will be for Apecoin (APE) and Injective (INJ).
According to the tweet, the lock of APE, worth $31.51 million, and INJ, worth approximately $20.99 million, will be released soon. Other important unlock events to watch out for will be for Oasis Network (ROSE), Flow (FLOW), SPACE ID (ID), and Euler (EUL). While the locks of ROSE, FLOW, and ID will host an opening of over $3 million, the lock of EUL will be opened with a value of $0.40 million.
With APE and INJ hosting the largest unlock events, investors naturally wonder whether this will cause a drop in the prices of these tokens. Market monitoring website CoinMarketCap stated that the prices of both cryptocurrencies have dropped in the last 24 hours.
APE Coin Current Status
As of the time of writing, APE was trading at $1.82 after dropping more than 9% throughout the day. This caused the altcoin to return to the red zone with a weekly performance of -0.85%.
APE’s price drop also resulted in a weakening of approximately 9.94% against market leader Bitcoin (BTC). Meanwhile, APE’s 24-hour trading volume remained at $104,005,720, an increase of more than 21% since yesterday.
INJ, after dropping more than 4% since yesterday, was valued at approximately $7.07 at the time of writing. As a result, INJ was trading much closer to its lowest level of $7.04 than its daily high of $7.43.
The price drop of the altcoin further pushed down INJ’s performance in the last seven days, bringing it down to -12.40%. Ranked as the 61st largest token with a market value of $592,234,179, INJ positioned itself between Synthetix at 60th place and Render (RNDR) at 62nd place.
