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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Sep 16, 2022
Over the weekend, 25 million APE tokens will be released to launch contributors. This will be representing nearly 8% of the circulating supply. This will expectedly be adding up to the selling pressure, as guesses are being made if the launch contributors will sell off their tokens once released.
The ’25 million tokens’ unlock is a part of a planned series of unlocks that would eventually lead to a final supply of 1 billion APE, up from the current 314 million. But despite the upcoming unlock, some analysts pointed out that ApeCoin staking – which would allow holders to borrow cryptocurrencies against their Bored Ape NFTs – is likely to act as a fundamental catalyst in the coming months.