ApeCoin Treasury Set to Unlock 25 Million APE Tokens for Launch Contributors

ApeCoin, the Ethereum-based token built for the Bored Ape Yacht Club NFT ecosystem, launched to immense hype (and significant paydays for BAYC holders) in March. Now some of the project’s backers are set to reap over $115 million worth of APE tokens as a reward, leaving holders wondering how that unlock might impact the token’s price. On Saturday, the ApeCoin DAO treasury is expected to unlock 25 million APE tokens. At a current price of $4.61 per token, that’s just over $115 million worth of tokens that will enter the market, expanding the circulating supply by about 8%. ApeCoin was created with a permanent supply of 1 billion tokens, with just over 318 million APE currently in circulation. The rest will unlock across a four-year period from March’s launch.