Token unlocks, such as the impending unlocking of $125 million in SAND and APE tokens, can intensify market supply pressure, prompting anticipation regarding potential changes in SAND and APE’s circulating supply.
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When tokens are unlocked, it can add more selling pressure to the market if there isn’t enough demand to absorb the newly available tokens. Currently, data shows that there’s a scheduled unlocking of $125 million worth of tokens from popular gaming and NFT projects The Sandbox (SAND) and ApeCoin (APE).

Token Unlock Events: SAND and APE
Recent data indicates significant token unlock events for The Sandbox (SAND) and ApeCoin (APE). Today, approximately $100 million worth of 205.59 million SAND tokens are set to be unlocked, followed by $23.09 million worth of 15.6 million APE tokens on February 17th.
Following the SAND unlock, constituting 10% of The Sandbox’s total supply, the circulating supply is expected to rise to about 90%. With a current market value of $1 billion, SAND is utilized for activities within The Sandbox’s virtual worlds. The ApeCoin unlock will release just over 2.5% of its circulating supply, while approximately 35% of the token’s total supply remains allocated to creator Yuga Labs, ApeCoin DAO, and other network stakeholders.
Token unlocking involves releasing previously restricted tokens into the market once their vesting periods conclude. These tokens, originally allocated for early investors, treasuries, and public sale participants, become tradable upon unlocking, facilitating buying and selling activities.
These unlocks are significant events in the lifecycle of tokens, as they can impact market dynamics, circulating supply, and investor sentiment. As such, they are closely monitored by the cryptocurrency community and can influence short-term price movements and long-term market trends.
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Price Movement Ahead of Token Unlock: SAND and APE
As the token unlock event approaches, SAND’s price has observed a 2.3% decrease over the last 24 hours, with the altcoin trading at $0.4667. Despite this recent decline, data indicates an 8.49% increase in SAND’s price over the past 7 days, although it has fallen by 7.94% over the last 30 days.

On the contrary, APE’s price has experienced a 1.15% increase, reaching $1.51 before the token unlock event. Over the last 7 days, APE’s price has risen by 11.65%, with a 5.31% increase recorded over the past 30 days.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#APECOIN #Bitcoin #Altcoin #Cryptocurrency

PeckShield, a blockchain security company, has issued a warning to users staking APE tokens in NFT pools after an exploiter bought a Bored Ape Yacht Club (BAYC) NFT and received staked APE associated with the sold NFT.

Staking is a popular way for users to earn rewards by locking up their crypto assets in smart contracts. However, in the case of staking APE in NFT pools, there is a risk that the staked tokens can be lost if the associated NFT is sold, according to the security warning.

#PeckShieldAlert If you stake $APE in the NFT pools & sell your #NFT you will lose the staked $APE ! Exploiter/Arbitrageur 0x06800a just bought following #BoredApeYachtClub #7810 and got the staked 14.3k $APE (~$60K) https://t.co/8K1fVMlWQp pic.twitter.com/nA9tMDEi1A

— PeckShieldAlert (@PeckShieldAlert) April 9, 2023

Notably, the exploiter with a wallet address initials “0x06800a” received 14.3k APE tokens of approximately $60k after buying BAYC 7810. The warning from PeckShield reminds users to be cautious when investing their crypto assets in NFT pools and to thoroughly research the mechanisms behind these investments.

On the other hand, users of the SushiSwap protocol have been advised to reverse approvals or move their funds to a new wallet following a bug in the SushiSwap’s RouterProcessor2 contract. PeckShield captured the incident earlier today, stating that over 1,800 Ethereum tokens worth over $3.3 million have been lost.

It seems the @SushiSwap RouterProcessor2 contact has an approve-related bug, which leads to the loss of >$3.3M loss (about 1800 eth) from @0xSifu. If you have approved https://t.co/E1YvC6VZsP, please *REVOKE* ASAP! One example hack tx: https://t.co/ldg0ww3hAN pic.twitter.com/OauLbIgE0Q

— PeckShield Inc. (@peckshield) April 9, 2023

Jared Grey, the head chef at Sushi Swap, acknowledged the issue and said the protocol collaborated with security specialists to minimize the intrusion. A smart contract audit company stated that it had stopped an assault transaction, saving 100 ETH, equivalent to over $180,000, and urged the impacted SushiSwap contract to seek compensation.

#APE #APECOIN #crypto2023 #Binance #crypto

Bored Ape Yacht Club (BAYC) has been on a wild ride lately, facing ups and downs that have left investors and enthusiasts on edge. The NFT's floor price dropped significantly, reaching as low as 35 ETH, causing some holders to sell off their valuable blue chip assets. This wave of Fear, Uncertainty, and Doubt (FUD) created a sense of unease within the community.

Amidst this chaos, however, there is a glimmer of hope. According to data from Lunar Crush, the social engagement surrounding BAYC has been steadily rising, indicating renewed interest and enthusiasm from the community. The NFT's social presence has experienced an impressive surge, with a staggering 322 million social engagements recorded, representing a significant increase of 117%.

Despite the decline in the floor price, which has dropped by over 19%, the surge in social engagement suggests that the community remains resilient and continues to show interest in the project. This increased social activity could potentially lead to a rebound in the NFT's value.

Analyzing the OpenSea analytics of BAYC reveals an interesting trend in the floor price. From May until around mid-June, the NFT maintained a stable floor price of around 47 ETH. However, the floor price took a downward turn, reaching its lowest point at 35 ETH. Currently, there are signs of a recovery, with the floor price hovering around 39 ETH. This positive development aligns with the increased social engagement and hints at a potential rebound in value.

Further examination of the OpenSea analytics uncovers a correlation between sales volume and price movement. The decline in volume coincided with the downward trajectory of the price. However, there is some positive news to note. At present, both the volume and price are showing a slight upward trend, indicating potential recovery.

Looking at the sales volume data from Crypto Slam, it becomes evident that BAYC has experienced notable trading activity within the past 30 days. The total sales volume during this period exceeded $50.7 million, marking an increase of over 27%. Additionally, the number of sales transactions rose by more than 21%, reaching a total of 598.

In the last 24 hours alone, BAYC saw a surge in sales volume, surpassing $6 million, representing an extraordinary increase of over 300%. The number of sales transactions during the same timeframe amounted to 62, showcasing a remarkable rise of over 220%. These statistics indicate a growing interest in BAYC and suggest a positive outlook for its future.

Despite the recent challenges, BAYC has managed to maintain its market capitalization ranking within the NFT ecosystem. With a market capitalization of approximately $1.3 billion, BAYC holds the position of the third-largest NFT collection. The NFT's total trading volume has exceeded an impressive $3 billion to date. Recent metric activity indicates that BAYC is gradually regaining momentum, further bolstering expectations for its future success.

While BAYC may have faced a rollercoaster of ups and downs recently, the surge in social engagement, signs of recovery in floor price, increased trading volume, and its maintained market capitalization ranking all point towards a potential rebound. The renewed interest and resilience of the community suggest that BAYC's journey is far from over, and there are brighter days ahead for this prominent NFT collection.

#crypto2023 #Binance #NFTS #APECOIN #apecoin

ApeCoin, or simply APE, recently stole the show on the crypto market, soaring 2,000% on Upbit, Korea's largest exchange. The sudden jump in value caught the attention of investors and analysts, prompting questions about the reasons behind this crypto-madness.

APE's twentyfold rise in price coincided with Upbit suspending deposits and withdrawals of ETH and tokens from the ERC20 network, causing a stir among Korean retail investors. While there is no specific reason for such unusual pricing behavior, there is speculation that it is APE that Korean crypto enthusiasts are starting to pump up during periods of withdrawal and deposit freezes.

At the same time, a warning appeared on Upbit's CoinMarketCap page opposite the APE/BTC pair that there may be an outlier in token volumes on the exchange. Such a disclaimer could signal the artificial nature of APE's recent trading on Upbit. The token's trading volume on the Korean exchange is now reported to be $100 million, double that of Binance.

At its peak, the APE vs. BTC pair on Upbit reached a value of 0.003 BTC, which is around $90. It is important to note that ApeCoin only has this pair on the Korean crypto platform. ApeCoin is currently trading at $30 on Upbit, which is significantly different from the token's price of $4.44 on Binance. However, at the same time, arbitrage of this currency is not possible due to the very suspension of transactions with ERC-20 tokens ahead of the Shanghai hard fork.

#APECOIN #Binance #crypto2023 #crypto #trading

The ApeCoin Community has voted on a proposal that suggested the creation of a new NFT series, rejecting the idea. ApeCoin Armory Club and Ape Coin Pet Club were the two NFT collections.

The ApeCoin DAO has rejected a proposal that would have introduced two new NFT collections. The two collections are Ape Coin Armory Club and Ape Coin Pet Club, which were designed to have 20,000 NFTs each. 83.95% of the voters rejected the proposal, with 10.01% of the community in favor of it. The NFTs would have been handed out to the crypto community for free, with the overall cost estimated at $168,000.

ApeCoin Community Voting Against New NFT Collections: Snapshot

The multi-link nature of the NFT collections meant that it could have been linked to other NFT and metaverse projects, like Otherside, Decentraland, and The Sandbox. One such possibility, which the proposal hints at, is that the NFTs could have appeared in the 3D worlds of other metaverse projects.

Images from Ape Coin Pet Club: AIP-206

The full proposal showcased images of the NFTs, with the ape logo appearing on a shield. There were also images of the pets that would have formed the Ape Coin Pet Club. The proposal claims that all of the NFTs from both collections “are unique in their own way some with more rare features.”

ApeCoin Team’s Otherside Second Trip Looked Like a Hit

Meanwhile, Yuga Labs, the company behind the Bored Ape Yacht Club, recently announced the Otherside Second Trip event captains. These captains are Jimmy Wong, Brycent, Lowbellie, and Cordell Broadus, and they led four separate teams.

Second Trip is a virtual event where 10,000 hodlers of its Otherdeeds NFTs will test the Otherside metaverse experience. The event seemed to have been successful, with over 7,200 concurrent players at one point.

Yuga Labs’ Bitcoin NFTs a Success

NFTs still seem to have a strong pull on investors, with Bitcoin NFTs especially taking off. Yuga Labs recently auctioned its first Bitcoin-based NFT collection, raking in $16.5 million in just 24 hours. The highest bidder paid over 7 BTC for one of the assets in the Bitcoin Ordinal collection called TwelveFold.

NFTs are also growing in the mainstream world, with Amazon potentially releasing its own NFTs. Amazon Web Services has hinted at its foray into the space by announcing a collaboration with Ava Labs.

#APE #APECOIN #Binance #nftcommunity #NFT