Apecoin bucks the trend by gaining after its token unlock, here’s why
19 Mar 2023 3:30 AM
The latest unlock represented about 4% of the total supply of APE, worth $160 million. Apecoin’s staking program triggered a solid demand for APE. Apecoin [APE], the primary token of the Yuga Labs ecosystem, recently released about 40 million tokens in the market as part of its scheduled linear unlock. The unlock represented about 4% […]...
- Apecoin recently released about 40 million tokens in the market as part of its scheduled linear unlock, representing about 4% of the total supply of APE, worth $160 million.
- The last token unlock event on 16 February resulted in a drop of more than 7% in APE’s value, but this time it recorded gains of more than 6% in the 24-hour period.
- There was strong evidence to suggest that APE was being purchased in bulk leading to the unlock event, possibly due to the strong incentive of reaping staking rewards.
- Apecoin’s transaction volume exploded to its 11-month high of 125.9 million on 17 March, lending credence to the accumulation theory.
Go to publisher site
The article has a positive sentiment as it highlights the gains made by Apecoin during the recent token unlock event and the bullish indicators for the token.
What is the total supply of APE and how much of it was unlocked in the recent event?
What was the impact of the last token unlock event on APE's value?
What is the evidence to suggest that APE was being purchased in bulk leading to the recent unlock event?
What was the transaction volume of Apecoin on 17 March and what does it indicate?
What are some of the technical indicators that suggest a bullish cycle for APE?