Aptos (APT) Faces $300 Million Token Unlock Ahead

Aptos (APT) is poised for a significant token unlock today, amounting to nearly 6% of its current circulating supply, yet representing nearly double its daily trading volume on exchanges.

Aptos (APT) Faces $300 Million Token Unlock. Image: CryptoSlate

As summarized by Coin68, close to 25 million APT tokens are set to be unlocked today (04/12), including portions held by early investors in Aptos. Ahead of this unlock, let's review some noteworthy developments surrounding Aptos!

Over the past week, APT has been among the underperforming tokens, experiencing a decline of nearly 20%, despite reaching highs at the end of March. During the same period, major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) saw increases of 3% and 5%, respectively. Aptos has managed to outperform UNI, the native coin of DEX Uniswap, currently embroiled in legal disputes with US regulators.

1D Chart of APT/USDT Pair on Binance as of 12:20 AM on 04/12/2024

According to tokenomics disclosures, Aptos allocated $141 million in tokens to core contributors, $100 million to investors, $38 million to the community, and $16 million for ecosystem development.

While the forthcoming release of APT tokens represents only 6% of the current circulating supply, it accounts for nearly double the daily trading volume on exchanges.

Historically, Aptos prices have generally reacted negatively leading up to token unlocks.

Token unlocking is an automated process of releasing tokens into circulation based on a predetermined schedule. This influx allows investors, developers, or owners to sell their holdings, potentially exerting selling pressure on the market.

Simultaneously, new investors or traders may seize the opportunity to acquire more tokens, potentially mitigating the selling pressure. The price trajectory of APT following the unlock event remains uncertain. Coin68 will continue to provide updates on any significant developments related to Aptos.