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.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
CoinCu News
Bitcoin's price rose 3% to $70,200, influenced by excitement surrounding the US presidential election.
NY, United States of America, 5th November 2024, Chainwire
This Coincu's article presents a curated list of the top DePIN crypto projects with airdrop…
Polymarket user identified only as "wallet mobile" has just made an astonishing bet of $10…
Binance CEO Richard Teng stated that Western companies will benefit most due to regulatory influence.
The Cyprus Securities and Exchange Commission announced that the Cypriot Investment Firm (CIF) FTX license…
This website uses cookies.