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This Date is Very Important for ApeCoin
On February 17, 2024, an important token unlock will occur in ApeCoin. The market value of this token unlock at the current price is approximately 23 million USDT. At 03:00 am UTC on February 17, 2024, 15.6 million APE will be available for sale. This amount corresponds to approximately 2.61% of the 596 million APE currently in circulation.
You can see the current situation summarized in the following image.
The distribution of the 15.6 million unlocked APE is as follows:
2.22m APE --> Yuga Labs Founder833k APE --> Launch Contributors 3277k APE --> Charity757k APE --> Launch Contributors 27.34m APE --> Treasury4.17m APE --> Yuga Labs
It should be noted that token unlocking events may not always have the same impact on prices. Let's consider an evaluation using the previous token unlocking event as an example.
On January 17, 2024, ApeCoin (APE) saw an approximately 15% increase during the token unlocking event. This increase occurred while Bitcoin ( #BTC ) dropped by about 3% on the same day. As seen in this example, sometimes token unlocking events can have a positive effect by reducing selling pressure on the project.
Why Token Unlocks are Important?
Token unlocking events in cryptocurrencies are important because they often involve a significant increase in token supply entering the market. This can disrupt the supply-demand balance and impact prices. Key reasons why these events matter include:
Supply Increase: Unlocking tokens increases the circulating supply, potentially leading to price drops if demand doesn't match.Price Volatility: Unlocking events can cause sudden price fluctuations as investors react to the influx of tokens.Vesting and Profit-Taking: Token holders may sell or buy more tokens once they're unlocked, affecting prices.Market Expectations and Speculation: Investors closely watch unlocking events, shaping market expectations and driving speculation.Project Status and Confidence: Unlocking events may reflect positively or negatively on a project, influencing investor confidence and price.
In essence, token unlocking events provide crucial insights into a project's future and market performance, closely monitored by investors.
#TrendingTopic #Write2Earn #Ape #ApeCoin
$APE
You can see the current situation summarized in the following image.
The distribution of the 15.6 million unlocked APE is as follows:
2.22m APE --> Yuga Labs Founder833k APE --> Launch Contributors 3277k APE --> Charity757k APE --> Launch Contributors 27.34m APE --> Treasury4.17m APE --> Yuga Labs
It should be noted that token unlocking events may not always have the same impact on prices. Let's consider an evaluation using the previous token unlocking event as an example.
On January 17, 2024, ApeCoin (APE) saw an approximately 15% increase during the token unlocking event. This increase occurred while Bitcoin ( #BTC ) dropped by about 3% on the same day. As seen in this example, sometimes token unlocking events can have a positive effect by reducing selling pressure on the project.
Why Token Unlocks are Important?
Token unlocking events in cryptocurrencies are important because they often involve a significant increase in token supply entering the market. This can disrupt the supply-demand balance and impact prices. Key reasons why these events matter include:
Supply Increase: Unlocking tokens increases the circulating supply, potentially leading to price drops if demand doesn't match.Price Volatility: Unlocking events can cause sudden price fluctuations as investors react to the influx of tokens.Vesting and Profit-Taking: Token holders may sell or buy more tokens once they're unlocked, affecting prices.Market Expectations and Speculation: Investors closely watch unlocking events, shaping market expectations and driving speculation.Project Status and Confidence: Unlocking events may reflect positively or negatively on a project, influencing investor confidence and price.
In essence, token unlocking events provide crucial insights into a project's future and market performance, closely monitored by investors.
#TrendingTopic #Write2Earn #Ape #ApeCoin
$APE
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
APE
0.6557
+4.91%