During the first month of 2024, more than $600 million worth of liquidity will enter the market through token unlocks. Aptos (APT), Injective (INJ), and Optimism (OP) are the top three projects with the highest unlocks.

The holiday season is over, and the crypto projects are set to conduct massive token unlocks. Due to token unlocks, many tokens that were locked earlier will enter the circulating supply.

Hence, it increases the supply of the token, which might have a negative impact on the price.

$235 Million Aptos Unlock: The Largest Token Unlock of January 2024

Aptos has scheduled the unlock of 24.84 million APT tokens on January 12, 2024. These tokens consist of 8.08% of the circulating supply.

The distribution of these tokens worth $234.76 million is as follows:

• 1.33 million tokens worth $12.60 million for the Foundation.
• 11.88 million tokens worth $112.22 million for the core contributors.
• 8.42 million tokens worth $79.61 million for the investors.
• 3.21 million tokens worth $30.34 million for the Aptos community.

Last month, on December 12, 2023, the project unlocked the same token amount. The screenshot below shows that APT’s price declined by 18.72% in six days after the unlock.

Similarly, the price also declined after the November 2023 token unlocks. 

Read more: An Ultimate Guide to Aptos Cryptocurrency (APT) and Its Network

Go to Source to See Full Article
Author: Harsh Notariya

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