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Token lockups have a significant impact on the cryptocurrency market, determining the timing and conditions for the introduction of crypto assets. This ensures a balance between supply and demand for the value that project teams bring. Lockups are of critical importance to both long-term investors and daily traders. In this article, we will discuss the Aptos token lockup event.
According to Token Unlocks, a data analysis platform, a $42 million cryptocurrency lockup will take place over the next week. The Aptos blockchain ecosystem’s native token, APT, which is the result of three years of work by 350 developers, will have its lockup tomorrow. This event will release a total of $22 million worth of tokens.
The event, which will take place on October 12 at 03:00, will unlock and release a total of 4.5 million APT tokens. This accounts for 1.9% of the total token supply. As the event approaches, investors eagerly await it. At the time of writing, APT tokens were trading at $4.84, experiencing a 1.43% loss in value over the past 24 hours.
APT Chart Analysis
The first notable formation in the APT chart is a wedge formation. After a significant decline since February, the formation of a support line in the APT/USD pair is a positive factor. The return of levels not seen since November 2022 has led to serious losses or evaporating gains for investors.
The support levels to be considered for APT are $4.70, $4.25, and $3.82, respectively. The last two support levels have been taken into account in this chart as they were effective during the decline between November and December. Breaking the $4.70 level will result in the negative performance of the formation and an acceleration of the decline.
The resistance levels to be followed for APT are $4.98, $5.36, and $5.74, respectively. Breaking the $5.74 resistance level will allow the formation to work positively and accelerate the upward movement.
