Arbitrum and ApeCoin prices will be in focus this week as their networks unlock millions of tokens.
Attachment coin (BUN) was trading at $0.756, up 57% from its low point in August, while Arbitrum (African Development Bank) remained stuck at $0.5345, where it has been for the past few weeks.
Arbitrum will unlock 93 million tokens
The two coins will be in the spotlight as their dilution continues. Arbitrum will unlock 93.2 million new tokens on Monday, September 16. This unlocking will bring the number of coins in circulation to over 3.52 billion.
Arbitrum will still have more unlocks ahead of him, as he has a full supply of 10 billion tokensand the final unlocking is expected to occur in April 2027.
This unlocking will occur at a time when the Arbitrum ecosystem is going through a difficult period. Data from Nansen shows the number of active addresses has fallen to 455,000, from a year-to-date high of 1.50 million.
The number of daily deployments on the blockchain has fallen to 8,600 from a year-to-date high of 32,750. Additionally, the transaction count fell by more than 24% over the past 24 hours to 1.07 billion.
Arbitrum has been overtaken by Base Blockchain in the decentralized exchange industry. Transaction volume on its DEX networks fell 20% over the past seven days to $2.7 billion, while Base handled $2.91 billion.
ApeCoin Token Unlocking Is Just Around the Corner
ApeCoin, the cryptocurrency created by Yuga Labs, will unlock 15.38 million tokens on September 17. This event will bring the number of coins in circulation to 620 million.
ApeCoin has a maximum supply of 1 billion coins and 15.3 million are released each month. The final unlocking will take place in March 2026.
There is also the next one ApeChain LaunchApeChain will be a layer 2 network and will allow developers to build applications in the gaming, decentralized finance, non-fungible tokens, and decentralized public infrastructure industries.
Token unlocks are often considered bearish events in the cryptocurrency industry because they dilute existing holders. They also reduce the staking yield that investors receive, as most of these tokens flow into staking pools.
ApeCoin and Arbitrum will also react to the upcoming Federal Reserve interest rate decision on Wednesday.
Economists expect the bank to implement its first interest rate cut since 2020 as U.S. inflation has moderated while the unemployment rate remains above 4%. In most cases, cryptocurrencies and other risk assets do well when the Fed has adopted a dovish tone.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.