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'Solana Killer' Aptos Token up 50% in 2023, But This Fact May Cool Down Investors

Tue, 01/10/2023 - 10:46
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Gamza Khanzadaev
'Solana Killer' Aptos token (APT) soaring 50% in last two days comes in handy before massive unlocking
'Solana Killer' Aptos Token up 50% in 2023, But This Fact May Cool Down Investors
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The price of the APT token has risen by almost 50% since the beginning of the year, going from $3.93 to $5.71 in just the last two days. APT is the native token of Layer 1 blockchain Aptos, created by Meta descendants and launched on the main network earlier in the autumn. For its similarities in some aspects of its operation, as well as its roots in Silicon Valley, Aptos has been dubbed the Solana killer.

APT to USD by CoinMarketCap

The staggering rise in APT's price came just in time, given that another 4.54 million APTs will be unlocked a day later, on Jan. 12. According to TokenUnlocks, 3.21 million APTs will be distributed to the community, while 1.33 million will go to a blockchain foundation.

Solana 2.0: Here's Why Aptos (APT) Can Take SOL's Place

Scale of the "catastrophe"

At the current price of $5.71 per APT, this number of tokens equates to $26 million and represents 0.454% of APT's total supply of 1 billion tokens. However, the circulating supply of Aptos token is only 130 million APT, and of that number, the unlocked amount is 3.46%.

Aptos (APT) Team Indicates Eight Innovations That Make It Special

Thus, the idea arises that the impressive surge in APT quotes, especially in recent days, could be directly related to Aptos' marketmaker's desire to soften the landing of the token's price after a large-scale unlocking takes place. Do not become someone's exit liquidity.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.