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ApeCoin, Optimism, and More: Analyzing September’s $174 Million Token Unlocks

2 mins
Updated by Geraint Price
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In Brief

  • Over $174 million worth of tokens, including ApeCoin (APE), Optimism (OP), and Aptos (APT), unlock in September, potentially impacting the market.
  • ApeCoin (APE) will unlock 40.60 million tokens, worth $58.47 million, on Sept. 17, making up 11.02% of the circulating supply.
  • Optimism (OP) is set to unlock 3.03% of its circulating supply, consisting of 24.16 million OP tokens, potentially adding a selling supply worth $33.34 million.
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According to the data compiled by BeInCrypto, over $174 million worth of tokens will be unlocked this month. But how will the market react?

Bitcoin (BTC) is struggling near $26,000, and altcoins are slowly bleeding. And with major unlocks scheduled for some altcoins, there may be more potential downside.

ApeCoin (APE) Will Unlock 11% of Circulating Supply

ApeCoin has already unlocked 50% of its supply. However, the remaining vesting schedule might add to the woes of the token holders.

According to data from TokenUnlocks, ApeCoin will unlock 40.60 million tokens, worth $58.47 million, on Sept. 17. The unlock makes up 11.02% of the circulating supply.

The project will unlock APE tokens for the following seven beneficiaries:

  • 2.22 million tokens worth $3.20 million for Yuga Labs founder.
  • 25 million tokens worth $36 million for “Launch Contributors 1”
  • 757,580 tokens worth $1.09 million for “Launch Contributors 2”
  • 833,330 tokens worth $1.20 million for “Launch Contributors 3”
  • 277,780 tokens worth $400,000 for charity.
  • 7.34 million tokens worth $10.58 million for Treasury.
  • 4.17 million tokens worth $6 million for Yuga Labs.
APE token schedule.
APE token unlocks date. Source: TokenUnlocks

$33 Million Optimism (OP) Token Unlock in September

On Sept. 30, Optimism will unlock 3.03% of its circulating supply, consisting of 24.16 million OP tokens. Moreover, the OP token unlocks could add a potential selling supply worth $33.34 million.

Optimism will allocate the fresh tokens to core contributors and investors. 12.75 million tokens worth $17.60 million will be unlocked for core contributors, while 11.41 million OP tokens worth $15.74 million will be unlocked for investors.

OP token unlocks date. Source: TokenUnlocks
OP token unlocks date. Source: TokenUnlocks

A similar portion was unlocked this week on Wednesday. Afterward, the OP price fell by around 7.73%.

As of writing, the OP token is trading at $1.383. The screenshot below shows that it has major support at $1.365. A breach of the support could result in a head and shoulders breakdown, leading to a further price downfall.

OPUSDT, Binance. Source: TradingView
OPUSDT, Binance. Source: TradingView

Aptos (APT) Will Unlock Nearly 2% of Circulating Supply 

The screenshot below shows that the upcoming unlock for APT is scheduled for Sept. 12. Henceforth, the project will release 4.54 million tokens worth $25.22 million for the foundation and the community.

1.33 million tokens worth $7.40 million will be released for the foundation, while 3.21 million tokens worth $17.82 million will be released for the community.

APT token unlocks date. Source: TokenUnlocks
APT token unlocks date. Source: TokenUnlocks

The first major unlock for September falls on Sunday. On September 3, Sui will release 34.62 million SUI tokens worth $17.43 million for the community access program. Given these points, the tokens contribute 4.37% to the circulating supply.

SUI token unlocks date. Source: TokenUnlocks
SUI token unlocks date. Source: TokenUnlocks

Do you have anything to say about the token unlocks in September or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Top crypto platforms in the US | February 2024

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Harsh Notariya
Harsh Notariya excels in delivering SEO-optimized crypto news under tight deadlines. Previously, as a Growth Marketer at Sporty and a Community Consultant at Totality Corp, he significantly boosted community engagement and followers. Harsh also crafted engaging content for top crypto influencer Shivam Chhuneja, blending meme references for an educational yet fun experience. His versatile skills make him a notable figure in crypto journalism.
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