#ApeCoin (APE) is scheduled to experience a token unlock with an estimated value of $16.69 million. This occurrence arises in the context of the token's downward price movement, resulting in a 50% reduction in its market value during the third quarter of 2023.
A total of 15.60 million $APE is scheduled to be introduced onto the market in the upcoming week.
Based on the data provided by TokenUnlocks, it is anticipated that the forthcoming token unlock event for ApeCoin is scheduled to take place on October 17. During this event, the ApeCoin DAO is expected to introduce an additional 15.60 million APE tokens into the existing circulation.
The next APE token unlock in 2023 will signify the ninth occurrence of this event, which consistently takes place on the seventeenth day of each month. According to additional details provided by TokenUnlocks, the recently launched APE tokens will be distributed among five prominent entities.
The entities encompassed within this category consist of Yuga Labs and its creator, the ApeCoin DAO Treasury, charitable organisations, and the individuals who contributed to the project's debut, specifically referring to early investors in the token before to its formal release. It is anticipated that upon its introduction, tokens will constitute around 4.23% of the circulating supply of APE.
The cryptocurrency known as ApeCoin was introduced to the market in March of 2022, accompanied with a total token supply of 1 billion. Presently, 54.25% of these tokens have been made accessible. However, it should be noted that the circulating supply of the token consists of just 367.59 million APE.
Will APE's bearish trend persist?
Typically, the introduction of token unlocks is often followed by apprehensions over an imminent decline. This phenomenon occurs due to the abrupt influx of a substantial number of tokens, which may incentivize certain investors to engage in selling activities to capitalise on their gains. Consequently, this selling activity exerts downward pressure on the price of the aforementioned token.
As previously said, the APE market is now experiencing a prolonged period of adverse sentiment. Despite seeing a modest decline of 2.79% during the last month, the token has exhibited predominantly unfavourable performance throughout the year 2023.
There is a possibility that APE may incur further financial losses as the token unlock event is scheduled to take place in the upcoming week. Nevertheless, it is possible that this assertion may not hold true. According to historical statistics, it has been observed that token unlocks do not consistently lead to a decline in price. This trend is shown by the case of Aptos in January, where the APT token saw a 50% increase subsequent to its monthly token release.
Furthermore, notable advancements have transpired in relation to ApeCoin throughout the preceding week. On October 11th, Sandeep Narwal, one of the co-founders of Polygon, put up a proposal on the ApeCoin Decentralised Autonomous Organisation (DAO) about the creation of a distinct layer 2 solution for ApeCoin, which has been named "ApeChain."
At now, the APE ecosystem operates on the Ethereum Network, utilising APE as its governing asset. This ecosystem encompasses many NFT initiatives initiated by Yuga Labs, including the Bored Ape Yacht Club (BAYC).
Nevertheless, the establishment of ApeChain has the potential to enhance the scalability of Apecoin, hence potentially influencing its adoption and market value in a favourable manner.
At the time of writing, the stock of APE is valued at $1.06, reflecting a 1.47% increase in value over the last day. In the meantime, the daily trading volume of the token has experienced a decline of 16.96%, reaching a valuation of $19.32 million.

According to the search results, #SUI , #Aptos and #ApeCoin token unlocks are scheduled for the first two weeks of November, with a total of $204 million worth of assets set to enter circulation following the unlock events. #APT is expected to have the most significant unlock value in November, with 24.84 million APT tokens worth $171.16 million set to be released. The token releases scheduled for November could potentially increase the supply by approximately $443 million in value.Here is a summary of the key information from the search results:

SUI, Aptos, and ApeCoin token unlocks are scheduled for the first two weeks of November, with a total of $204 million worth of assets set to enter circulation following the unlock events.APT is expected to have the most significant unlock value in November, with 24.84 million $APT tokens worth $171.16 million set to be released.The token releases scheduled for November could potentially increase the supply by approximately $443 million in value.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Readers are encouraged to conduct their research and make informed decisions.