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Binance‘s venture arm Binance Labs, an investor in the Blockchain platform Aptos, is preparing for a hefty token unlock event, also known as token distribution. The planned token unlock for Aptos is set to take place next week, with approximately 9% of APT’s total supply being unlocked and distributed to 4 major groups.
Unlocked APT Tokens to be Distributed Among 4 Major Groups
Aptos, a popular altcoin project, is gearing up for a hefty token unlock event for its APT. The token unlock is set to take place on December 12th at 03:00 AM GMT, with 24.84 million APT tokens worth $199.48 million being unlocked and distributed among 4 major groups at current prices.
As part of the planned token unlock, the Aptos Foundation will receive 1.33 million APT tokens worth $10.71 million, core participants will receive 11.88 million APT tokens worth $95.36 million, investors will receive 8.42 million APT tokens worth $67.64 million, and the community will receive 3.21 million APT tokens worth $25.78 million.
Aptos, which regularly conducts token unlocks, previously held a token unlock event on November 12th, where 24.84 million APT tokens worth $199.48 million were distributed among the same four main groups at current prices.
Token Unlock Event Could Affect APT’s Price
Token unlock event refers to the release of tokens offered to investors at the beginning of an altcoin project, which are usually locked for a certain period. This event typically occurs during ICOs (Initial Coin Offerings) or token sales but can vary depending on the project structure and token distribution plan.
A token unlock event, as in the case of Aptos, can affect the price because a large amount of tokens may be released. This situation can lead to high volatility in the price by affecting market liquidity and supply. Early investors or project team members may be inclined to sell the tokens they receive after the unlock event. This is a common dynamic at the beginning of an altcoin project and is an important factor for investors and traders.
Of course, the reaction to each token unlock event varies, and its effects depend on the project’s conditions, ecosystem, and market conditions at that time. Nonetheless, investors should always examine an altcoin‘s token distribution plan and stay prepared for such events by following the team’s announcements.
