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![](https://gimg2.gateimg.com/blog/1648604234661497992_Gate.io_%E7%83%AD%E7%82%B9%E8%BF%BD%E8%B8%AA_web_en.jpg)
Bored Ape Yacht Club (BAYC) unlocked 4.3 million Ape coins on 16 February 2023. 

The recent coin unlock resulted in a 10% ape coins price fall. 

There will be 40.6 million ape coins unlocked on 17 March 2023. 

The total supply of ape coins is 1 billion. 

Keywords: Ape Coins, ape coin price, <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a>, staking, Yuga Labs, unlock tokens, token unlock, Bored Ape Yacht Club, BAYC, Andreessen Horowitz, Animoca Brands, FTX Ventures
## Introduction 
The supply of a cryptocurrency is an important determinant of its price, a reason why some projects lock their tokens/coins.  Most project teams choose to unlock their cryptocurrencies gradually to control their price volatility. Bored Ape Yacht Club (BAYC) is one of the crypto projects that unlocked its token in February 2023. In this article, we discuss the effect of unlocking tokens on its price as well as identifying Ape coin unlocking schedule. 
## Ape Coin price tanks due to unlock of token batch
On 16 February 2023 [Bored Ape Yacht Club](https://www.gate.io/article/23175 "Bored Ape Yacht Club") (BAYC) unlocked 4.3 million Ape coins, about 0.7% of the total supply, resulting in a 10% decrease in its price. At the time of unlocking, the total value of the unlocked apecoins was $41.7 million.  

As a result of unlocking the tokens the price fell from $5.70 to $5.15 on February 17, representing 9.7% drop in value. However, the coin has gained value since then, trading at $5.54 as of 23 February. 
![](https://gimg2.gateimg.com/image/article/16777509311.png)
Price of <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> as of 23 February 2023 - CoinMarketCap

As the diagram shows the price of <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> has risen tremendously from its value of $5.15 on 17 February. 

**Read also: [NFTs Stolen As BAYC Instagram Account Gets Hacked](https://www.gate.io/blog_detail/1054/nfts-stolen-as-bayc-instagram-account-gets-hacked "NFTs Stolen As BAYC Instagram Account Gets Hacked")**

According [to Apecoin](https://www.gate.io/learn/articles/what-is-apecoin/94 "to Apecoin") unlock schedule, the next unlocking event will take place on 17 March 2023, where 40.6 million apecoins, about 4% of the total supply, will be released onto the market. Thus, analysts anticipate that such a token unlock will result in a big fall of <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin price</a>. 
![](https://gimg2.gateimg.com/image/article/16777509762.png)
Token unlock schedule - Unlocks.app

As you observe in the image above, in March over 40.6 million tokens will be released.  Currently, only 38.3% of the apecoins are on the market. The other unlocking event which will increase the supply of <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> will take place in September 2023. Nevertheless, many more apecoins will be periodically unlocked until 2026. 

The diagram below shows a summary of tokens available on the market as well as the locked ones. 
![](https://gimg2.gateimg.com/image/article/16777509933.png)
Unlocked and locked Ape coin tokens- Unlocks.app

As you note on the diagram only about 38% of the <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> are on the market, meaning that 62% is still locked. 
## The reason for unlocking of apecoins
<a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> DAO treasury unlocked the tokens which were allocated to the “launch contributors.” According to its website, the “launch contributors” are the companies and individuals who contributed to the successful launch and continuation of the project.  

Although the website and the team have not divulged the identity of the contributors, Delphi Digital, a crypto research firm has suggested that the contributors may include individuals and firms that back Bored Ape Yacht Club such as Andreessen Horowitz, Animoca Brands, and FTX Ventures. It is important to note that <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> DAO governs <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> while the <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> Foundation is its “steward.”

The effect of  unlocking <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> in the future on its price cannot be predicted at the moment. This is because it is not clear how the holders of the tokens, the launch contributors, will use them. If they release them on the market its price will likely increase. 

However, there is another possibility. They may opt to hold onto their tokens since the plan to introduce [Apecoin staking](https://www.gate.io/margin/lend/APE?coin=APE "Apecoin staking") is at an advanced stage. Already, the <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> holders selected <a href="/price/horizen-zen" target="_blank" class="blog_inner_link">Horizen</a> Labs to create the staking platform. Therefore, investors may buy many Ape coins in the future with the intention of staking them. This may lead to an increase in its value. 
## What is token unlock?
Token unlock is a process of releasing a certain quantity of a cryptocurrency to the market at the end of a vested period. Usually, a token unlock results in an increase in the supply of that specific token. Note that the total supply of <a href="/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> is 1 billion tokens, of which only about 318 million are on the market at the moment.  
## <a href="/how-to-buy/apecoin-ape" target="_blank" class="blog_inner_link">how to buy ape</a> Coin on Gate.io
It is very easy to [buy APE coins on Gate.io](https://www.gate.io/price/apecoin-ape "buy APE coins on Gate.io"). The first step is to create an account and get verified at the exchange. After that, you fund the account using USDT. Alternatively, you can <a href="/how-to-buy/tether-usdt" target="_blank" class="blog_inner_link">buy usdt</a> using a Credit card.

Once you have USDT in your trading wallet you will be able to buy any cryptocurrency including APE. You simply select APE since it is paired against USDT, in the [spot trading section](https://www.gate.io/trade/BTC_USDT "spot trading section"). Similarly, you can convert any of the major cryptocurrencies like BTC to APE.  
![](https://gimg2.gateimg.com/image/article/16777510944.png)

Once you click on the APE/USDT pair you will be able to enter the amount of APE you want to purchase, then [click “Buy APE”](https://www.gate.io/how-to-buy/apecoin-ape "click “Buy APE”").
## Conclusion
Token unlock is a process where a team releases part of its tokens on the market. So far, 38% of the 1 billion apecoins are on the market while the rest will be released between 2023 and 2026. Token unlocking increases the circulating supply of cryptocurrency which can lead to a fall in its value. 


<div class="blog-details-info">
<div>Author: **Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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62% of Ape coins will be unlocked between 2023 and 2026 which will increase its supply from 2.18 million to 1 billion in 2026. The impact of the token unlock will depend on whether or not the token owners will sell or stake them.

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Apecoin (APE) Tanks 10% following $40 million Token Unlock