Wintermute Acquires $36M Worth of ARB Ahead of Major Token Unlock
Wintermute's strategic accumulation of ARB tokens ahead of the unlock indicates a potential profit-seeking move amidst market fluctuations.
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Wintermute's strategic accumulation of ARB tokens ahead of the unlock indicates a potential profit-seeking move amidst market fluctuations.
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It seems ApeCoin (APE) had a recent surge in price after a bearish trend, but there's apprehension about an impending token unlock that might impact its trajectory. Despite a rebound and current trading at $1.38 with a market cap over $507 million, the release of 15.6 million tokens, valued at $22 million, raises concerns for investors. Historically, APE has seen price drops post-unlocks, adding uncertainty. Market data shows declining floor prices in Bored Ape Yacht Club (BAYC), possibly indicating similar trends for APE. While some indicators suggest a positive outlook with decreased supply on exchanges and positive money flow trends, caution prevails amid the uncertainty around the unlock's impact on APE's performance.
InvestAnswers, a renowned crypto analyst with a substantial following, has highlighted an upcoming token launch set to become one of the top performers in 2024.
The unlock, scheduled for mid February, will release 12% of the token’s supply.
Aptos has teething problems hours after mainnet deployment. VCs and team control majority of token supply.
Over 25 million APE tokens will be released to launch contributors, representing nearly 8% of the circulating supply.