The biggest crypto token unlock, which includes BitDAO, is scheduled for September 16.
CryptoRank Platform predicts seven major token unlocks this week. The first is September 12, when Aptos will issue $24.8 million in APT.
These events could reduce market liquidity and trade activity, lowering asset prices.
The most significant of these developments will take place on September 16 when BitDAO will liberate more than 172 million BIT tokens. This amounts to about $70 million at current rates.
Other major unlocks include $53.5 million in APE on September 17 and $36 million in UNI the following day.
Top 7 Token Unlocks of the Upcoming Week 🔓
The following tokens with the largest unlock amount will be unlocked next week:
— CryptoRank Platform (@CryptoRank_io) September 9, 2023
Even though token unlocks are sometimes viewed as negative occurrences since they signify an increase in the circulating supply, this is not necessarily the case.
In late August, Avalanche unlocked 9.54 million AVAX coins. The asset’s valuation rose to approximately $11 in the following days, contrary to predictions.
Similar things happened after Avalanche’s token unlock in May. After the disclosure, AVAX fell but subsequently rose.