ApeCoin (APE) is gearing up to release approximately $24.49 million worth of its total token supply, which accounts for 2.61%. This move is part of APE’s plan to introduce a one billion token supply to the market. As the world of cryptocurrency continues to grow, APE aims to use this strategic unlocking to strengthen its market position and increase growth and adoption.
ApeCoin’s Upcoming Token Unlock: Who Gets What?
According to data from Token Unlock, at 03:00 AM Turkish Standard Time on February 17th, 15.6 million APE tokens worth $24.49 million will be unlocked. The APE tokens to be unlocked will be allocated to various organizations. Accordingly, the ApeCoin Treasury will receive 7.34 million APE, valued at $11.53 million, which corresponds to 1.23% of the circulating supply. Yuga Labs is preparing to receive 4.17 million APE, valued at $6.54 million, which corresponds to 0.70% of the circulating supply. In addition, the founder of Yuga Labs is planned to receive 2.22 million APE, valued at $3.49 million, which corresponds to 0.37% of the circulating supply.
Launch Participants 3 will receive 833 thousand APE, valued at $1.31 million, which makes up 0.14% of the circulating supply, while Launch Participants 2 will receive 757 thousand APE, valued at $1.19 million, corresponding to 0.13% of the circulating supply.
Moreover, charities will be allocated 277 thousand APE, valued at $436 thousand, which corresponds to 0.05% of the circulating supply.
Potential Impact of Token Unlock on APE’s Market
Significant token unlocks are an important milestone for an altcoin project, indicating a commitment to transparency and growth. APE aims to increase liquidity and expand its ecosystem by unlocking a portion of its supply, encouraging more participation and interaction among users and investors.
APE is preparing for a significant portion of its supply to be unlocked, while investors and enthusiasts carefully observe the potential impact on the altcoin’s price. It is known that large token unlocks often negatively affect the price, and if demand remains the same or decreases before the unlock, the price may drop.
