Advertisement
AD

Main navigation

Aptos' (APT) Price Comes Under Pressure as 4.5 Million Tokens Ready for Unlocking

Advertisement
Mon, 6/02/2023 - 10:13
Aptos' (APT) Price Comes Under Pressure as 4.5 Million Tokens Ready for Unlocking
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

After an unprecedented rise of almost 400% since the start of 2023, the Aptos token seems to have found its high and reversed direction in February, correcting by 16% in the past week. In the meantime, in addition to the purely technical price movement that has already started, it remains to be seen what impact the upcoming unlocking of the tokens, which is due to take place Feb. 12, might have on the APT price.

Advertisement
“”
APT to USD by CoinMarketCap

Related
Aptos (APT) up 22%, Top Reasons Driving Price Growth

Thus, according to Token Unlocks, an additional 4.5 million Aptos tokens are due to enter the market this Sunday, with a combined value at the current price of around $68.5 million. Given a total supply of tokens of 1 billion, this volume represents 0.454%. However, if the circulating supply of 160.29 million APT is taken into account, that is 2.83%.

In any other situation, it would seem that this is definitely a bearish signal, but in these market conditions it is not so clear-cut.

Meeting of two waters

Recall that the last time a large batch of Aptos tokens was due to enter the market, exactly one month before the current unlocking, the price of APT started its fabulous rally, rising further by 300% and setting a new all-time high.

Related
Aptos (APT) Team Might Be Selling Their Tokens

Whether this scenario could happen again is an open question. Nevertheless, perhaps Aptos marketmakers will again succeed in awakening the attention and, importantly, the greed of the crowd to unload the unlocked volume at sweeter prices.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD