- Token unlock events for APE, IMX, and APT will occur within the next month.
- It is estimated that these events will unlock tokens worth just under $75 million.
- In related news, the prices of APE, APT, and IMX decreased over the past 24 hours of trading.
Data from the tokenomics tracking platform Token Unlocks indicates that substantial amounts of ApeCoin (APE), Immutable (IMX), and Aptos (APT) will be unlocked within the next month. In total, just under $75 million worth of tokens will be unlocked within the next thirty days.
Both APE and IMX will face their respective token unlocks within the next week. It is estimated APE worth about $29.95 million, or 4.2% of APE’s supply, will be unlocked. When it comes to IMX, about $12.67 million worth of token will be unlocked, which translates to approximately 1.7% of the token’s supply.
Meanwhile, the next unlocking event for APT will happen on 12 August 2023. During this event, APT worth more than $32 million will be unlocked, which is about 2.16% of APT’s supply. As a result, more than 4 million tokens will be unlocked on this day.
There are enormous amounts involved in all three unlocking events. As a result of this, it is logical to assume that these unlocking events could potentially have a significant impact on the cryptocurrencies involved.
CoinMarketCap indicated that APE was trading hands at $1.92 after a 0.07% price decrease over the past 24 hours. This ended up pushing the meme coin’s weekly performance even further into the red at -11.14%. The upcoming unlock event for APE could be a make or break for the crypto following an extremely challenging month and week for the altcoin.
Furthermore, IMX was trading in the red after its price dropped by about 0.45% throughout the past day. As a result, the crypto was worth $0.6995 at press time. The crypto’s 24-hour trading volume stood at $9,516,943 after it decreased by more than 14%.
Lastly, APT also saw its price drop slightly over the past day. The altcoin was trading hands at $7.09 after a 0.54% price decrease. Consequently, APT’s weekly performance was still firmly set in the red zone at -9.76%. Its market cap of $1,493,142,562 meant that APT was ranked as the 34th biggest crypto. This placed it right behind Hedera (HBAR) in the 33rd spot.
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