Token un-lock events take place every month. Some are large and can have an impact on a token’s price. This month, three notable altcoins will unlock a combined total of around $178 million. This is a serious figure and we could see a big price drop as there is no inflow of crypto at the moment. However, according to crypto expert Camille Lemmens, it’s possible that it makes a good entry point. However, the expert recommends waiting for the price to settle first. In this direction, the expert says to stay away from these 3 altcoins for now.
First ranked altcoin: Apecoin (APE)
Apecoin’s un-lock event is by far the largest altcoin unlock event this month. Unlocking accounts for 11% of the circulating supply. This event will take place on September 17. This will be 40.6 million APE. This has a value of about $54.41 million at current price.
50% of APE’s tokens are unlocked. The last unlock for the altcoin took place on August 17. However, this accounted for only 4.23% of the circulating supply. Or in other words, 15.6 million APE tokens (worth $20.91 million). During this period, the APE price dropped from $1.79 to $1.55. So, this upcoming unlock is a big deal. It is possible that the current price will drop again after the unlock. APE owners are in trouble. The token continues to move towards all-time lows. There are seven beneficiaries of this upcoming unlock. The top four buy almost all the coins. For example:
- 2.22 million tokens ($2.98 million) go to the founders, Yuga Labs.
- 25 million tokens ($33.5 million) are going to early contributors to the launch.
- 7.34 million tokens ($9.84 million) will go to the treasury.
- 4.17 million tokens ($5.58 million) go to Yuga Labs.
This means 51 million dollars out of 54 million dollars. So, it’s best to stay away from Apecoin for now.
Optimism (OP) comes in second!
Optimism will make the next big unlock among altcoin projects in September. So far, only 25% of the token supply has been unlocked. This upcoming unlock event will take place on September 30. So, at the end of this month. They will unlock 3.03% of their circulating supply. That doesn’t sound like much. However, this means 24.16 million tokens. This equates to $31.89 million over the current price of $1.26.
The last unlock event happened a month ago, on August 30. This development dropped the altcoin price from $1.49 to $1.29. That equates to about 13% in less than a week. The progress payment calendar continues until the end of August 2027. A similar amount will be unlocked every month. There are two beneficiaries in this current unlock event:
- 12.75 million tokens ($16.83 million) will go to core participants.
- 11.41 million tokens ($15.05 million) will go to investors.
So it’s possible that there is some selling pressure here. This may cause the OP price to decrease. However, it’s also likely to be a good entry point.
Last ranked altcoin: Aptos (APT)
Aptos will unlock the third largest altcoins in September. The opening will take place on September 12, that is, tomorrow. At the Un-lock event, the project will unlock APT, which corresponds to 1.98% of the circulating token supply. That means 4.54 million APT ($24.85 million). cryptokoin.comAs you follow from , Aptos has only unlocked 18% of its total locked supply so far. In November, we will see the first major token unlocks for Aptos. We will see six major monthly token unlocks through April 2024. At this point, some negative price impact on APT is possible.
However, let’s get back to the topic anyway. The last unlock event took place on August 12. APT price dropped from $7.20 on August 12 to $5.52 on August 18. Currently the price is $5. There are two beneficiaries in this unlock event:
- 1.33 million APT ($7.29 million) will go to the Foundation.
- 3.21 million APT ($17.56) will go to the community.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. We recommend that you do your own research before investing.
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For the rest of the article, Expert Opinion: Don’t Buy These 3 Altcoins For Now, Wait!