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🦍Apecoin Unlock in 2 days!
What is happening on chain?
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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🔓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
Another fresh wallet bought $19mln worth of APE from Coinbase (again, as tagged by Nansen)
💸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
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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