In just four days, Aptos, a leading Layer-1 blockchain, is set to unlock 11.31 million APT tokens valued at approximately $60 million.
This unlock, scheduled for August 12th, represents 2.4% of APT’s circulating supply. Given the recent dip in APT’s price from $7, investors are keen to understand how this event might influence the market.
Since May 2024, Aptos has been unlocking 11.31 million tokens around the 12th of each month, a process that will continue until October 2026. Historically, these token unlocks have had varying impacts on the price, depending on market conditions.
A look at past unlock events reveals some interesting trends. On November 12, 2023, during a mini bull run, the price of APT surged from $7.7 to nearly $18, with the market cap surpassing $5 billion and the fully diluted valuation (FDV) exceeding $18 billion. This unlock did not trigger a significant sell-off, indicating that market sentiment was strong at the time.
However, in recent months, APT has seen a sharp price correction, dropping from $18 to around $5. In downtrending markets, token unlocks can exert more pressure on prices, raising concerns about the upcoming event.
$APT, the biggest unlock this week, is unlocking in 4 Days
By analyzing historical unlocks, past scenarios, and supply, here are what we found out about the upcoming unlock.
A fully packed analysis from our specialist 👇
*Not an investment advice* pic.twitter.com/fcpuWgj2an
— Token Unlocks (@Token_Unlocks) August 7, 2024
Tokens Set For Unlock On August 12th
The tokens set to be unlocked on August 12th are allocated as follows: 1.33 million to the Foundation (0.28% of the circulating supply), 3.21 million to the Community (0.68%), 3.96 million to Core Contributors (0.84%), and 2.81 million to Investors (0.60%). Although this represents a modest 2.4% of the circulating supply, it is unlikely to cause a significant supply shock.
Analyzing the previous three unlocks at a similar percentage of the circulating supply provides additional context:
- May 12: Price at $8.38, market cap $4.1 billion
- June 12: Price at $7.97, market cap $3.96 billion
- July 12: Price at $6.05, market cap $2.22 billion
As the next unlock approaches, it remains to be seen whether this trend will continue or if the market will react differently.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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