Wintermute Acquires $36M Worth of ARB Ahead of Major Token Unlock
Wintermute's strategic accumulation of ARB tokens ahead of the unlock indicates a potential profit-seeking move amidst market fluctuations.
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Wintermute's strategic accumulation of ARB tokens ahead of the unlock indicates a potential profit-seeking move amidst market fluctuations.
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It seems ApeCoin (APE) had a recent surge in price after a bearish trend, but there's apprehension about an impending token unlock that might impact its trajectory. Despite a rebound and current trading at $1.38 with a market cap over $507 million, the release of 15.6 million tokens, valued at $22 million, raises concerns for investors. Historically, APE has seen price drops post-unlocks, adding uncertainty. Market data shows declining floor prices in Bored Ape Yacht Club (BAYC), possibly indicating similar trends for APE. While some indicators suggest a positive outlook with decreased supply on exchanges and positive money flow trends, caution prevails amid the uncertainty around the unlock's impact on APE's performance.
Despite a mixed analysis of market indicators and the potential for a bullish pattern, the impending complete token unlock stands as a crucial factor influencing INJ's trajectory. While social metrics lean towards positive sentiment, market indicators depict a cautious outlook, signaling a potential price decline or consolidation in the short term. Investors are advised to closely monitor market developments around the unlocking event for a clearer perspective on INJ's future price movement.
The Pyth Network's PYTH token airdrop, initially reaching a market cap of $765 million before stabilizing at $457 million, marks a significant milestone, distributing over $77 million to early users while showcasing the dynamic nature of the crypto market.
While some exchanges are keen on embracing crypto and crypto products, others have indicated a more ambivalent outlook
The unlock, scheduled for mid February, will release 12% of the token’s supply.
Over 25 million APE tokens will be released to launch contributors, representing nearly 8% of the circulating supply.
MEXC Global, a leading digital asset and cryptocurrency trading platform, has today announced a partnership with the Pyth Network, an ...