Aptos is unlocking 24.84 million APT tokens, and GMX has 403.23 GMX tokens on the way. Why does it matter? Because these releases can affect the prices. Stick with us as we break down the basics of what’s happening and what it could mean for your APT and GMX investments. Let’s get to the nitty-gritty of token unlock and its impact on those crypto numbers!
Forthcoming APT Token Unlock Event
Aptos stands as a Layer 1 Proof-of-Stake (PoS) blockchain, utilizing the innovative Move smart contract programming language. Move is a language developed independently by Meta’s (formerly Facebook) Diem blockchain engineers based on Rust.
Aptos envisions a blockchain that facilitates widespread adoption of web3 and enables a network of decentralized applications (DApps) to address tangible real-world challenges for users. With its PoS architecture, Aptos boasts a theoretical transaction throughput exceeding 150,000 transactions per second (tps) through the implementation of parallel execution.
At the time of writing, Aptos’s APT token is priced at $7.28 with a market cap of $2,021,948,690. However, the circulatory supply of APT tokens is 277,886,448 APT with a total supply of 1,068,522,319 APT.
In an upcoming token unlock event scheduled on 12 Dec 2023, Aptos is releasing 24.84m APT tokens worth $180.60m. It covers 8.94% of the circulatory supply. This token unlock event will benefit the following stakeholders.
- The Foundation will be granted 1.33m APT tokens worth $9.69m. This unlocking portion will cover 0.48% of the circulatory supply and market cap.
- Core Contributors will be given 11.88m APT tokens with a value of $86.33m. This cliff unlock will cover 4.27% of the circulatory supply and market cap.
- A considerable number of 8.42m APT tokens will be unlocked for the Investors worth $61.24m. This specific token unlock segment will cover 3.03% of the circulatory supply and market cap.
- The Community will be given 3.21m APT tokens worth $23.34m. This share will cover 1.16% of the circulatory supply and market cap.
Currently, 209.36m APT tokens have been unlocked. Previously, Aptos unlocked 24.84m APT tokens on 12 Nov 2023. On the previous token unlock event, APT was priced at $7.6583. However, at the time of writing, APT is priced at $7.270. So, the percentage change in price is approximately -5.07%. Let’s see what lies ahead for the APT price.
GMX in a Near-Future Token Unlock Event
GMX stands as a decentralized exchange (DEX) designed for trading perpetual cryptocurrency futures, offering leverage of up to 50X on renowned cryptocurrencies such as BTC, ETH, and others. Originally launched as Gambit Exchange in September 2021, GMX has achieved significant milestones, accumulating a total trading volume exceeding $130 billion and attracting 283,000 users. This positions GMX as the premier derivatives DEX operating on both the Arbitrum and Avalanche networks.
GMX operates seamlessly on the Arbitrum and Avalanche blockchains, facilitated by Synapse—a cross-chain bridge that interconnects these ecosystems with the exchange.
At this point in time, GMX is valued at $51.31 with a market cap of $475,015,627. GMX has a circulatory supply of 9,252,195 GMX with a total supply of 9,694,134 GMX.
In a forthcoming token unlock event planned on 09 Dec 2023, GMX is going to unlock 403.23 GMX tokens worth $20.66k into the crypto market. This unlock event will be unlocked as esGMX Rewards. Meanwhile, this release will cover 3.23% of the circulatory supply.
Currently, there are 714.68k GMX tokens, i.e., 5.39%, while 12.54m GMX tokens, i.e., 94.61%, have been unlocked.
Previously, GMX unlocked 416.67 GMX tokens worth $21.35k. In the previous unlock event, GMX was priced at $49.8737. However, currently, it has secured its value at $51.33. So, the percentage rise in price is approximately 2.92%.
Concluding Thoughts
In conclusion, the upcoming token unlock events for Aptos (APT) and GMX present significant developments that may impact their respective prices and the crypto market. Investors and enthusiasts should keep a watchful eye on these developments, as token unlock events often influence market dynamics. Understanding the intricacies of these events and their potential impact on prices is essential for making informed investment decisions in the dynamic world of cryptocurrency.
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