ApeCoin’s APE to witness Rising Selling Pressure with 25 million Tokens unlock on the way?

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Over the weekend, 25 million APE tokens will be released to launch contributors. This will be representing nearly 8% of the circulating supply. This will expectedly be adding up to the selling pressure, as guesses are being made if the launch contributors will sell off their tokens once released.

The ’25 million tokens’ unlock is a part of a planned series of unlocks that would eventually lead to a final supply of 1 billion APE, up from the current 314 million. But despite the upcoming unlock, some analysts pointed out that ApeCoin staking – which would allow holders to borrow cryptocurrencies against their Bored Ape NFTs – is likely to act as a fundamental catalyst in the coming months.