ApeCoin, Oasis Network, and Injective Prepare for Token Unlocks
ApeCoin, Oasis Network, and Injective are set to unlock tokens worth millions of dollars this week. These token unlock events are causing anticipation and excitement in the cryptocurrency community.
ApeCoin Token Unlock
The ApeCoin token unlock event is particularly significant, as it involves the native token of the Bored Ape Yacht Club (BAYC). This event will release an additional 15.6 million tokens, representing around 4.3% of the total circulating supply. These tokens are valued at $31.5 million and will be distributed to various stakeholders, including the Treasury, Yuga Labs, Yuga Labs founder, and launch contributors. The final ApeCoin token unlock is scheduled for June 26th.
Despite the excitement surrounding the ApeCoin token unlock, the ecosystem is currently facing challenges. The demand for BAYC prices has retreated, causing the price to drop by over 68% from its highest level this year.
Oasis Network Token Unlock
Oasis Network, a smart chain platform, will also be unlocking additional tokens this week. The upcoming token unlock will release ROSE tokens worth over $8 million. These tokens will be distributed to partners, reserves, core contributors, and the community. The last token unlock for Oasis Network is scheduled for February 2031.
Injective Token Unlock
Injective, a DeFi-focused blockchain supported by Mark Cuban, is another cryptocurrency preparing for a major token unlock. Tokens worth over $20 million will be released, with most of them going to ecosystem developers. The final token vesting for Injective is expected to occur in April 2024.
It’s important to note that token unlocks often have a bearish effect on cryptocurrencies, as they result in increased dilution. They are similar to the reversal of share buybacks in the corporate sector.
How to Buy ApeCoin
If you’re interested in buying ApeCoin, here are a couple of platforms where you can do so:
- eToro: eToro offers a wide range of cryptocurrencies, including Bitcoin and XRP, along with crypto/fiat and crypto/crypto pairs. The platform also allows users to connect with and learn from other users.
- Public: Public is an investing platform that enables you to invest in stocks, ETFs, cryptocurrencies, and alternative assets like fine art and collectibles. It’s an all-in-one platform for your investment needs.
These platforms provide a convenient way to invest in ApeCoin and other cryptocurrencies. Make sure to do your research and consider your investment goals before making any decisions.
Token unlock events are crucial moments for cryptocurrency projects. They can have a significant impact on the market and investor sentiment. It’s important to stay informed and keep an eye on these events to make informed investment decisions. For the latest news and updates on cryptocurrencies, check out Uber Crypto News.