How will APE and INJ prices respond to the upcoming unlock?

• Tokens worth over $69 million are set to be unlocked this week.
• Apecoin (APE) and Injective (INJ) are facing significant unlocks.
• APE and INJ have reported a downward trend in prices.

In a recent tweet by Token Unlocks, a platform that monitors tokenomics, it was revealed that tokens valued at over $69 million are set to be unlocked this week. Notably, the most substantial forthcoming unlocks investors should monitor closely are Apecoin and Injective .

The post indicates that APE valued at $31.51 million, and INJ estimated at around $20.99 million, are set to be unlocked shortly. Other noteworthy unlocking events include those for Oasis Network , Flow , SPACE ID , and Euler . ROSE, FLOW, and ID are all slated for unlocks valued at over $3 million, while EUL’s unlock is projected to be worth $0.40 million.

Given that APE and INJ are facing significant unlocks, it’s only natural for traders to question if this could trigger a sharp decline in the value of these tokens. CoinMarketCap, a leading cryptocurrency market data provider, has reported a downward trend in the prices of both these digital assets over the most recent 24-hour trading period.

As of the latest update, APE was valued at $1.82, reflecting a significant decline of over 9% in the last 24 hours. This downturn has negatively impacted the altcoin’s weekly performance, pushing it back into negative territory with a -0.85% return.

The recent price fluctuation in APE resulted in a relative depreciation against the market frontrunner, Bitcoin , by approximately 9.94%. Concurrently, APE’s trading volume over the past 24 hours experienced a surge of over 21% compared to the previous day, elevating its standing to $104,005,720.

At the time of reporting, INJ was valued at approximately $7.07, reflecting a decline of over 4% from the previous day. As a result, INJ’s trading position was significantly nearer to its 24-hour low of $7.04, as opposed to its daily peak of $7.43.

The depreciation in the altcoin price further exacerbated INJ’s seven-day performance, plunging it to a low of -12.40%. With a market capitalization of $592,234,179, INJ holds 61st in the token ranking, nestled between Synthetix at 60th and Render at 62nd.