Three major token unlocks this week

Unlock (English unlock) is called the unlocking of tokens that were previously frozen under the terms of investment rounds or other funding programs.

Typically, the team carefully works out the tokenomics so as not to cause a lot of selling pressure at various stages of the unlock and thereby not bring down the price of the token. However, some factors – for example, a lack of liquidity or profit-taking by early investors immediately after the tokens are unlocked – can seriously affect the asset’s quotes.

There are 3 major unlocks this week that are worth keeping an eye on.

1. ApeCoin (APE)

• Unlock date: October 17
• Number of tokens unlocked: 15,600,000 APE
• Current circulating supply: 368,593,750 APE

ApeCoin is the native token of Yuga Labs’ Ape ecosystem, which includes one of the most popular NFT collections, Bored Ape Yacht Club. On October 17, the circulating supply of APE will increase by 15.6 million tokens, which will be distributed between the project creators, the Yuga Labs team and the DAO treasury.

Typically, APE reacts to unlocks by falling, so the dynamics of the asset’s price next week should be monitored especially closely.

2. Axie Infinity (AXS)

• Unlock date: October 20
• Number of tokens unlocked: 15,130,000 AXS
• Current circulating supply: 131,496,268 AXS

Axie Infinity is one of the most famous Play-to-Earn projects created by the Sky Mavis studio. The game takes place in a virtual environment inhabited by creatures called “axies”. The platform allows you to cross them, creating new characters. Players earn rewards by winning battles and selling axis.

The native token of the AXS platform is used to develop the platform, pay rewards for staking and solve a number of other problems. The coins released on October 20 will be intended for users who have locked their assets in smart contracts, as well as the project team and advisors.

3. Space ID (ID)

• Unlock date: October 22
• Number of unlocked tokens: 18,490,000 ID
• Current circulating supply: 286,000,000 ID

Space ID is a universal decentralized identification protocol that connects people, assets and dApps across different blockchains. The platform allows you to use one domain name to represent your identity across all separate applications and networks. On October 22, the project will unlock more than 18 million ID tokens, which will be distributed between the Space ID Foundation and airdrop participants.