Big Token Unlock in July What is the distribution plan and impact of Optimism, Aptos and ApeCoin?

Unlock ApeCoin

Major crypto assets (virtual currencies) such as Optimism (OP), Aptos (APT), and ApeCoin (APT) plan to unlock a total of $100 million (14 billion yen) worth of tokens during July. .

Token unlocking refers to an event where the Web3 (decentralized web) project releases tokens that have been locked up for a certain period of time to the market. Token unlocking usually increases the supply of tokens, which tends to be associated with dilution of value.

According to data analytics firm TokenUnlocks, there have been instances of token prices dropping by up to 15% before unlocking, but there are also instances where prices actually rise. Especially in bull market conditions, news is expected to arrive in line with the unlock event, which some see as a bullish sign.

connection:Large token unlock Optimism and Sui Network distribution volume expected to increase rapidly

Several large token unlocks are planned for July. The first token unlock of note is Apecoin (APE), with 4.23% of its circulation, or about 15.6 million APE (about 5 billion yen), scheduled to be released to the market on July 17th.

Source: Token Unlocks

Most of the planned unlocking tokens (approximately 2.34 billion yen) will be distributed to the project’s treasury, and the remaining approximately 800 million yen will be distributed to the developer Yuga Labs and the founders.

Unlocking APEs of this scale is occurring on a monthly basis, and according to the pre-published token distribution plan, 62% of the total supply of 1 billion APEs will go to ecosystem funds, and 16% will be produced by BAYC. 8% is distributed to the founder of the NFT studio “Yuga Labs”, the founder of Bored Ape Yacht Club (BAYC), and 14% to those who contributed to the launch of the project. It has a waiting period of several years and a phased distribution schedule.

connection:What is “Ape Coin (APE)” that even beginners can understand | Explain features and future potential

Unlocking APTs and OPs

The next thing to look at is Aptos (APT), which was developed mainly by the former developers of the Diem (formerly Libra) project that Meta (formerly Facebook) was working on. Aptos is an L1 blockchain that launched its mainnet in October 2022.

About 4.5 million APT (about 5 billion yen) tokens, which is 2.17% of the circulation, will be released on July 12, of which about 3.5 billion yen will be distributed to the community and about 1.4 billion yen to the Aptos Foundation. . Last month, 4.54 million APTs were released, and although the price temporarily fell by 4.5%, it has since rebounded and has now recovered to about 20% higher than the price before unlocking.

Aptos’ token distribution plan states that out of the total supply of 1 billion APT, 51% will be distributed to the community, 16.6% to the Foundation, 19% to Core Contributors and 13.48% to early investors. . These rights will be vested in stages after a waiting period of 12 months.

And finally, Ethereum’s Layer 2 solution, Optimism (OP), is scheduled to release approximately 24.2 million OP (4.7 billion yen) on July 30th, or 3.75% of its circulation. About ¥2.5 billion of that will be distributed to the project’s main contributors, and the rest to early investors.

Source: Token unlocks

Optimism released about 387 million OP (about 82.4 billion yen) on May 31st, and the number of Optimism tokens in circulation doubled from 300 million OP to 670 million OP. Although the OP price, which was around $3 in March 2011, fell to $1.1, it will stop falling due to the overall market trend and the implementation of the large-scale upgrade “Bedrock” on June 7. At the time of writing, the price has recovered to $1.34 per OP.

Source: CoinMarketCap

From what I’ve seen so far, it seems that how quickly the supply curve of a token shifts tends to change the size and duration of the price impact.

Alex, an analyst at Scimitar Capital, points out that price fluctuations are likely to occur, especially when tokens are offered as airdrops to general users. Inexperienced users are more sensitive to market trends than institutional investors, and their trading behavior can change rapidly. It reacts quickly to new market information, which may result in price volatility.

connection:Token unlocking and impact on cryptocurrency prices? TokenUnlocks Report

The post Big Token Unlock in July What is the distribution plan and impact of Optimism, Aptos and ApeCoin? appeared first on Our Bitcoin News.