Aptos (APT), according to its recent announcements, will experience a significant token unlocking event this week. This unlocking represents the largest in terms of value. But are there any expectations for any impact on the price trend?
Token Unlocking at Aptos!
According to Crypto Rank, Aptos is planning to unlock 24.84 million tokens on December 12th, with a total value exceeding 216 million dollars. This unlocking event constitutes the highest value among those that happened this week. A more detailed examination of the unlocking reveals that the distributed tokens will be allocated to four different groups. According to token unlocks, the foundation’s key contributors, community, and investors are the ones receiving the unlocked tokens. Additionally, the tokens planned to be unlocked make up approximately 8.9% of the circulating supply.
According to CoinMarketCap data, Aptos’ current circulating supply was 278.9 million. Moreover, when the article was written, its market value was over 2.3 billion dollars, with a decrease of over 2% in the last 24 hours. Also, the release of 8% of the circulating supply, which is worth over 200 million dollars, could change market dynamics. The entry of a significant portion of the unlocked tokens into exchanges could lead to a decrease in price.
Trading Volume at Aptos
This decrease may not only be due to volume, but could also be affected by the negative perception it creates. The trend in the coming days will be determined by the actions surrounding this unlocking event. Also, as of the latest update, the trading volume is almost at the level of 173 million dollars. Aptos was trading around 8.3 dollars, reflecting a slight increase of over 1% on the daily timeline chart. However, the chart shows that Aptos lost about 3% in value in the previous trading session.
The analysis of the chart revealed a fluctuation model between rising trends and falling trends in the last few weeks. Despite these variable price movements, the relative strength index (RSI), could indicate an ongoing bullish trend, with the RSI currently recorded above 60 as of the latest update.