Key Points:
Aptos, a Layer 1 protocol founded by former Facebook employees, is poised to release a substantial amount of tokens, with plans to issue 20 million Aptos (APT) tokens in November, according to data from TokenUnlocks. At the current market price of $5.17 per token, this unlocks an impressive $103 million worth of APT tokens, representing over 8.5% of Aptos’ circulating supply of 235.02 million.
The forthcoming release of APT tokens is expected to inject significant liquidity into the market, as reported by research firm The Tie, which specializes in digital assets. Notably, the issuance of 20 million APTs amounts to 112% of the average daily trading volume over the preceding 30 days.
To manage this unlock, Aptos will adopt a phased approach, with the initial release set at 5.83 million APT tokens in November, equivalent to 32% of the average daily volume. By December, this figure is anticipated to rise to 6.15 million APTs. Over the past year, Aptos has been consistently unlocking 4.62 million APTs each month for various community and organizational purposes.
It’s worth noting that liquidity release events, particularly those exceeding 100% of the average daily trading volume, can exert downward pressure on token prices, as highlighted by The Tie. Therefore, market participants will be closely monitoring the effects of this substantial token unlock in November.
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.
Bitcoin Spot ETF Inflows have reached $510 million as of November 13, marking six consecutive…
Solana DEX trading volume reached historic highs, exceeding $5 billion daily for three days. Raydium…
Phantom iOS users are warned that a recent app update caused some users to log…
Japanese crypto exchange Coincheck is set to become the first Japanese crypto exchange to list…
The US DOJ investigates Polymarket for Alleged Illegal US User Bets Polymarket, for allegedly permitting…
Ethereum’s ICO was priced at around $0.30 per token, and today, it’s valued in the…
This website uses cookies.