Aptos [APT] saw its latest token unlock on 12 April wherein the network released a fractional amount of tokens. The unlocked tokens account for 0.45% of its total supply and was worth over $52 million. As per Token Unlocks, Aptos’ next unlock is due in 29 days.
Realistic or not, here’s APT market cap in BTC‘s terms
Here is what followed..
Typically, a token unlock is followed by a price decline, as suggested by the demand and supply theory. As the newly unlocked tokens increase the circulating supply, the asset’s price could drop. This was true in APT’s case as well and the token’s daily chart was painted red.
According to CoinMarketCap, APT was down by more than 3.5% in the last 24 hours. At the time of writing, it was valued at $11.35, with a market capitalization of over $2 billion.
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Author: Dipayan Mitra
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