Token Unlock Events
On November 12th, Aptos [APT] underwent a significant token unlock, releasing 24.84 million APT tokens into circulation. This represented 9.96% of the circulating supply, with a total value of over $181 million.
- 11.88 million APT tokens ($87.04 million) to core contributors
- 8.42 million APT tokens ($61.75 million) to investors
- 3.21 million APT tokens ($23.53 million) to the community
- 1.33 million APT tokens ($9.77 million) to the foundation
Impact on Circulating Supply
According to CoinMarketCap, Aptos’ circulating supply at the time of publication was 249,383,461 tokens, with a value of approximately $1.82 billion. However, not all of these tokens were available for trading, as over 869 million APT (87% of the circulating supply) were staked.
This implied that the real circulating supply was around 195.1 million APT, with a value of approximately $1.4 billion.
Market Response to Unlocks
Aptos effectively absorbed the previous token unlock on October 12th, which released 4.54 million APT tokens. The chart showed a bullish trend following the unlock, and the price gained over 2.4% on the eve of the unlock.
As of press time, Aptos had retraced from its pre-unlock gains, experiencing a decrease of over 2% in value. It was trading at around $7.5.
Despite the decline, the RSI remained above 60, indicating ongoing bullish sentiment. Additionally, the long moving average continued to provide support at around $6.8 to $6.9.
Upcoming Unlock Event
According to Token Unlocks, the subsequent token unlock event is anticipated to occur in a month.
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