ApeCoin Investors Brace For Price Volatility Ahead Of 4% Supply Release
ApeCoin, a decentralized cryptocurrency that operates on the Ethereum blockchain, recently announced a 1-month linear unlock of 4% of its total token supply.
The unlock event could cause significant price volatility for the token, as some investors may sell them in anticipation of a price drop. This could lead to a sharp decline in the coin’s value.
What’s Ahead For The ApeCoin Project?
According to on-chain research firm Unlocks Calendar, smart money wallets have reduced their allocation balance in the cryptocurrency since their launch. However, in the last 7 days, there have been transactions where these wallets have increased their allocation balance, breaking the previous trend.
This type of transaction activity can indicate a change in market sentiment or investor behavior, noting that smart money wallets anticipate a price increase ahead of unlocking ApeCoin’s 4% total token supply.
According to Unlock Calendar, the launch of ApeCoin’s staking program, ApeStake.io, could contribute to the decline in ApeCoin balances on centralized exchanges since December 2022. However, a positive sign for the research firm is that this could also represent a general attitude of investors to hold the token instead of dumping it.
Read More: https://www.newsbtc.com/news/apecoin-ape/apecoin-investors-brace-for-price-volatility-ahead-of-token-4-total-supply-release/
ApeCoin, a decentralized cryptocurrency that operates on the Ethereum blockchain, recently announced a 1-month linear unlock of 4% of its total token supply.
The unlock event could cause significant price volatility for the token, as some investors may sell them in anticipation of a price drop. This could lead to a sharp decline in the coin’s value.
What’s Ahead For The ApeCoin Project?
According to on-chain research firm Unlocks Calendar, smart money wallets have reduced their allocation balance in the cryptocurrency since their launch. However, in the last 7 days, there have been transactions where these wallets have increased their allocation balance, breaking the previous trend.
This type of transaction activity can indicate a change in market sentiment or investor behavior, noting that smart money wallets anticipate a price increase ahead of unlocking ApeCoin’s 4% total token supply.
According to Unlock Calendar, the launch of ApeCoin’s staking program, ApeStake.io, could contribute to the decline in ApeCoin balances on centralized exchanges since December 2022. However, a positive sign for the research firm is that this could also represent a general attitude of investors to hold the token instead of dumping it.
Read More: https://www.newsbtc.com/news/apecoin-ape/apecoin-investors-brace-for-price-volatility-ahead-of-token-4-total-supply-release/
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