Top 4 Token Unlocks to Watch This Week
Date: 2023-09-11 Author: Dima Zakharov Categories: BLOCKCHAIN
In the world of cryptocurrencies, token unlocks can stir up the market. These events, where previously frozen tokens become accessible, can have a significant impact on coin prices and the overall ecosystem. In this article, we'll explore four upcoming token unlocks that crypto enthusiasts should keep an eye on in the coming week.
Explanation of Token Unlocks:
Before we delve into the details, let's clarify what token unlocks entail. In simple terms, a token unlock is the process of releasing tokens that were previously locked due to conditions set during investment rounds or fundraising programs. These unlocks can be a pivotal moment for both investors and the cryptocurrency project itself.
Now, let's take a closer look at the most anticipated token unlocks happening next week:
1. Aptos (APT) - Unlock Date: September 12
- Unlocked Tokens: 4,540,000 APT
- Current Circulating Supply: 229,856,587 APT
Aptos, a Layer 1 blockchain, has been one of this year's standout projects. However, it has faced criticism for its tokenomics heavily dominated by venture capital. Over 80% of APT tokens remain locked, and monthly unlocks are scheduled for the next ten years. On September 12, the released tokens will be distributed between the Aptos fund and community participants.
2. Lido DAO (LDO) - Unlock Date: September 13
- Unlocked Tokens: 1,500,000 LDO
- Current Circulating Supply: 888,427,760 LDO
Lido Finance, a leading platform for liquid staking of cryptocurrencies, allows users to lock coins and receive derivative assets. LDO, an ERC-20 token, governs Lido. On September 13, early investors in the project will gain access to the unlocked tokens.
3. Flow (FLOW) - Unlock Date: September 16
- Unlocked Tokens: 7,290,000 FLOW
- Current Circulating Supply: 1,036,200,000 FLOW
Flow, created by Dapper Labs, the makers of the popular game CryptoKitties, is a blockchain platform for issuing non-fungible tokens (NFTs) and gaming applications. Supported by major sports organizations like the NBA, UFC, and NFL, FLOW's native token plays a crucial role in various ecosystem functions. On September 16, unlocked tokens will be distributed among the development team and Dapper Labs.
4. ApeCoin (APE) - Unlock Date: September 17
- Unlocked Tokens: 40,600,000 APE
- Current Circulating Supply: 368,593,750 APE
ApeCoin, the native token of the Ape ecosystem by Yuga Labs, is associated with the famous NFT collection, Bored Ape Yacht Club (BAYC). APE tokens often experience price drops during unlocks, and with BAYC facing challenges, the next drop could be substantial.
