Like every beginning of the month, it is interesting to look at the “unlock tokens” to come. Indeed, the impact on the price of the cryptocurrencies concerned is no longer to be proven. Here are the top 5 “unlock tokens” to watch in April 2023.
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“Unlock tokens” to watch in April
If you missed our previous articles on this subject, don’t worry: “unlock tokens” are quite common mechanisms in the life of a project and consist of a release of a certain amount of tokens, previously locked. Quite logically, this can have an impact on the price of the asset.
Many projects decide to block part of the tokens during the initial issuance. Often this corresponds to those intended for private or for the team. Afterwards, they are released and distributed over the months in small quantitiesin order to reduce the impact on the price of the token.
Nevertheless, there is no denying that this leads to some volatility. Let’s take for example the previous performances of the 5 cryptocurrencies mentioned in the TOP 5 “unlock tokens” of February 2023:
GMT: -25% since February 9; UNI: -9% since February 16; APT: -15% since February 12; ILO: -9% since February 15; SAND: -10% since February 14.
Over this same period, Bitcoin (BTC) printed a rise of 17% and Ether (ETH) led the rest of the altcoins higher with a performance of 15%. Moreover, even in a very complicated context for Binance and its CEO, Changpeng Zhao, the BNB fell only 0.5%.
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5 – GateToken (GT)
With an upcoming release of 6.67 million tokens, valued at $35 millionGateToken’s GT ranks at the 5th position in the list of unlock tokens of this month of April. This event represents a release of approximately 4.7% of the total capitalization of this asset. It is scheduled for April 26 at 2 a.m. (GMT+2).
4 – Uniswap (UNI)
In 4th position, we find Uniswap (UNI). The decentralized exchange plans to release a quantity of 8.3 million UNI tokens, valued at $52 million. Note that despite the amounts, this event is of lesser importance, as it represents only 1.1% of the current capitalization.
For those who have followed previous articles about unlock tokens, you will have noticed a recurring presence of Uniswap in this ranking. This time the event will take place April 16 at 5 a.m. (GMT+2).
3 – Aptos (APT)
With an upcoming release of 4.54 million tokens, representing $52 million, Aptos (APT) ranks 3rd on the day’s podium. This represents 2.52% of current capitalization of this cryptocurrency. This unlock token is scheduled is April 12 at 2 a.m. (GMT+2).
Like UNI, the APT is a regular at unlock tokens. Remember that Aptos does not currently have only a small part of its tokens in circulation, i.e. around 17%. While its current capitalization is $2.1 billion, it would be $11.9 billion if all tokens were released into circulation, placing it in 9th position in the ranking of the most capitalized cryptocurrencies.
2 – ApeCoin (APE)
At the 2nd position of this ranking, we find the APE of ApeCoin. NFT’s Bored Ape Collection Ecosystem Related Project Should Release a quantity of 15.6 million APE tokens, representing $67 million. This corresponds to 4.23% of the current capitalization of this asset.
This event will take place next April 17 at 7 a.m. (GMT+2).
1 – BitDao (BIT)
Finally, the 1st position of this ranking is occupied by the BitDAO BIT. The exchange plans to release next April 14 at 6 a.m. (GMT+2) a quantity of 187.5 million BIT tokens, representing 98 million dollars. This corresponds to 8.97% of the current capitalization of this asset, which is relatively large.
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Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.
Lilian Aliaga
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