🦍Apecoin Unlock in 2 days!

What is happening on chain?

Hello anon,

On 17th March 2023, ApeCoin will start a 1-month period with linear unlock of 4% of total supply (intense). This will include first Yuga Labs allocation unlock

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EXTRA

• As a reminder, we also have a FREE newsletter specialised in finding onchain alpha here

• If you are interested to our database with Unlocks Schedule for 180 coins, feel free to email nl@unlockscalendar.net

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🔓HOW VESTING SCHEDULE IS STRUCTURED

• Main upcoming unlocks are the following:

  • 17 March 2023 (4% of supply, unlocked across one month)

  • 17 September 2023 (3% of supply, unlocked across one month)

• Unlocks are linear every month, but there are some months (March 2023 and September 2023) of particularly high inflation

• Unlocks are mainly related to Contributors and Yuga Labs team

• Yuga Labs will unlock their bags in March 2023

• After March 2023, unlocks rate will be 2% per month

• Both Yuga Labs and BAYC Founders will start unlocking from March 2023.

  • Their allocation is 23% of supply

  

⛓️WHAT IS HAPPENING ONCHAIN AHEAD OF THE EVENT?

🤓1/ Smart money

• Smart money wallets have been reducing their allocation balance since launch, but in the last 7 days there were several transactions going on the opposite direction of this trend (see next paragraphs)

💰2/ Two big buys from fresh wallets

• Yesterday, a fresh wallet bought $3.9mln APE from Coinbase (as tagged by Nansen), which is worth $16m

• https://etherscan.io/tx/0x1068d33515332c48cc23823830136857eb88fbb697635215bd60b1f34e7e0390

  

• Another fresh wallet bought $19mln worth of APE from Coinbase (again, as tagged by Nansen)

• https://etherscan.io/tx/0x8f5b8ec3466acd1957555d3eb199d4b693f612c8cdd613b2aa2a194dace8ac63

  

💸3/ More BUYs than SELLs

• Seems like the biggest transactions ahead of the unlock are BUYs

• Among the top 15 transactions over the last week, only one involved APE transferred to a CEX to be sold: a trader deposited 595k APE ($2.4m) on Binance (https://etherscan.io/tx/0x614c86d53ffd2c75c42686429cab6fe659ed2001e2e85cad67192177db3dac73)

👜4/ Investment Fund Wintermute is accumulating

• Wintermute bough $500k worth of APE, and now represent one of the biggest holders among wallets tagged as “smart money” by Nansen

👝5/ Biggest holder Genesis haven’t sold

• Biggest wallets tagged as “smart money” haven't sold any of their allocation in the last 30 days

• This includes Genesis Trading which holds $4mln worth of APE

👀6/ TL,DR

• Will monitor the situation closely if incoming unlocked tokens will be disposed immediately, but seems investors are not bearish / worried about the event

• Will keep you updated

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