ApeCoin (APE) will undergo a token unlock valued at $16.69 million. This development comes amidst the token’s bearish price action, which has led to it losing half its market value in Q3 2023. Related Reading: Apecoin Weakens Grip In Last 30 Days – Should Investors Get Worried? 15.60 Million ApeCoin (APE) Set To Flood The Market Next Week According to data from TokenUnlocks, ApeCoin’s next token unlock is set to occur on October 17, during which the ApeCoin DAO will release 15.60 million new APE tokens into circulation. This will mark the tenth APE token unlock in 2023, as this event occurs on the seventeenth day of every month. Based on more information from TokenUnlocks, the newly released APE coins will be allocated to five major parties. These include Yuga Labs and its founder, the ApeCoin DAO Treasury, charity, and the project’s launch contributors, i.e., early investors in the token before its official launch. Upon release, tokens are expected to form 4.23% of APE’s circulating supply. ApeCoin was launched in March 2022, with a maximum supply of 1 billion tokens, of which 54.25% ..
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 Set For Upcoming Token Unlock, Bearish Pressure To Worsen?){kind=link}