Aptos Token Release Triggers Bullish Buying Spree

Key Points:

• Millions of Aptos (APT) tokens to be unlocked, increasing circulating supply by 0.5% on April 12th at 05:30 UTC.
• APT rose nearly 8% in the past 24 hours, outperforming bitcoin (BTC) and the broader market.
• APT unlock valued at over $50 million based on current prices, but 84% of total APT tokens are still locked, meaning current valuations could likely dip in the long term.

Millions of APT tokens will be unlocked on Wednesday, April 12 at 05:30 UTC, according to data. The planned move is set to increase the circulating supply of APT by 0.5%. This means that there will be more Aptos tokens available in the open market.

As of the past 24 hours, Aptos has risen by nearly 8%, outperforming both Bitcoin (BTC) and the broader market, based on data from CoinGecko. This is a positive indicator of the market’s confidence in APT. The Aptos network is currently valued at over $2.3 billion by market capitalization.

The APT token unlock is a significant event that has the power to sway the market as participants react to the move. The addition of tokens to the market allows early investors, developers, or other holders to sell their assets while the price is still high. This contributes to selling pressure.

However, newer investors or traders may see the token unlock as an opportunity to increase their existing holdings of APT based on fundamental demand. This may lead to a price rise after the initial selling pressure weans off.

It is worth noting that only 16% of total APT tokens are currently unlocked, while the remaining 84% are still locked. This means that there are still a significant number of APT tokens yet to hit the market. As a result, the current valuations of APT could likely dip in the long term. Therefore, it is important to keep an eye on how the market reacts to the APT token unlock and how it affects the overall value of APT.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

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