🦍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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🔓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)

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💰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)

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👜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

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👝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

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👀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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