Aptos, a Layer 1 protocol founded by former Facebook employees, is scheduled to launch 20 million Aptos (APT) tokens in November, data source TokenUnlocks reported.
Aptos Announces Unlocking $103 Million APT Token in November
Based on the current market price of $5.17 per token, the upcoming APT unlock is worth $103 million. This amount accounts for more than 8.5% of Aptos' circulating supply of 235.02 million.
According to The Tie, a research firm specializing in digital assets, the APT token unlocking scheduled for November is expected to inject significant liquidity into the market.
As noted in The Tie's weekly newsletter dated September 13, the collective issuance of 20 million APTs worth approximately $103 million represents 112% of the average daily trading volume over the previous 30 days.
The upcoming unlocks will open monthly, coinciding with the announcement of monthly staking rewards.
Initially, 5.83 million APT tokens will be unlocked, which is 32% of the average daily volume.
This figure is predicted to rise to 6.15 million APT in December. Since the previous year, 4.62 million APTs have been unlocked monthly for community and foundation purposes.
Tie has previously noted that locks that release liquidity, especially those that exceed 100% of average daily volume, tend to put downward pressure on prices.
*This is not investment advice.