Axie Infinity Will Unlock Over 21M AXS On October 25, Almost 8% Of Total Supply
P2E game Axie Infinity will unlock a large amount of AXS tokens on October 25, with an unlock amount of 21,543,000 AXS, representing a total of 7,979% of the supply, approximately $218 million owned by insiders and early investors.
According to Token Unlocks data, the ecological P2E Axie Infinity Token AXS game will have a large unlock at 9:10 on October 25, with an unlock amount of 21,543,000 AXS, representing 7.979% of the supply (total supply of 270 million tokens), or about $218 million.
These unlocked tokens are owned by the insiders and the original investors. The allocation of the unlock includes: 5.7375 million for team members, 4.89 million for pledge rewards, 4.725 million for P2E distribution, 2.5 million for consultants. These holders can decide to profit and sell tokens. Besides, 1.9975 million for private sale and 1.6875 million for ecosystem fund.
Axie Infinity, which experienced a surge in popularity last year as one of the first crypto-focused computer games, could face significant selling pressure as the project’s AXS tokens will be unlocked in the coming days.
In a Twitter post, Aleksander Larsen, CEO of Sky Mavis, developer Axie had a few words to say about this massive token sale. According to share the unlocked token is not the same as the token in circulation. He also emphasized that Sky Mavis will not sell a single token in the upcoming unlock.
The price of AXS has been continuously falling since October 18 from $11.21, currently trading at $9.32, continuing to drop another 6.22% within 24 hours.
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