Arbitrum and ApeCoin prices will be in the spotlight this week as their networks work to unlock millions of tokens.
ApeCoin (APE) is trading at $0.756, up 57% from its August low, while Arbitrum (ARB) is stuck at $0.5345, the same level it has been at for the past few weeks.
Arbitrum will unlock 93 million tokens
The two coins will be in the spotlight as they continue to dilute. Arbitrum will release 93.2 million new tokens on Monday, September 16. This will bring the number of coins in circulation to over 3.52 billion.
Arbitrum will still have more openings since it has a total supply of 10 billion tokensThe final unlock is expected to be in April 2027.
This opening will come at a time when the Arbitrum ecosystem is going through a difficult period. Data by Nansen The data shows that the number of active addresses has fallen to 455,000, compared to its high of 1.50 million since the beginning of the year.
The number of daily postings on the blockchain has dropped to 8,600 from a year-to-date high of 32,750. The number of transactions has also dropped by more than 24% in the last 24 hours to 1.07 billion.
Base Blockchain has overtaken Arbitrum in the decentralized exchange industry. The volume of transactions on its DEX networks has dropped by 20% in the past seven days to $2.7 billion while Base handled $2.91 billion.
ApeCoin Token Opening Soon
ApeCoin, the cryptocurrency launched by Yuga Labs, will launch with 15.38 million tokens on September 17. This event will bring the number of cryptocurrencies in circulation to 620 million.
ApeCoin maximum supply 1 billion coins 15.3 million copies are being released each month. The final version will be released in March 2026.
There is also the upcoming launch of ApeChain. ApeChain will be a layer 2 network and will enable developers to build applications across the gaming, decentralized finance, non-fungible token, and public decentralized infrastructure industries.
Token unblocking is often seen as a bearish event in the crypto industry because it reduces the value of existing holders. It also reduces the return on participation received by investors because most of these tokens flow into participation pools.
ApeCoin and Arbitrum will also react to the Federal Reserve’s interest rate decision on Wednesday.
Economists expect the bank to cut interest rates for the first time since 2020, when inflation in the United States has fallen and the unemployment rate has remained above 4%. Cryptocurrencies and other risky assets usually do well when the Fed adopts a dovish tone.
Comments are closed, but trackbacks and pingbacks are open.