In a planned move, the recently popular altcoin Aptos will unlock about 0.5% of the total token supply on Wednesday.
Altcoin Aptos (APT) Unlocks $50M Tokens That Could Put Selling Pressure
The data shows that millions of Aptos (APT) tokens will be unlocked on Wednesday in a planned move that will increase the circulating supply by 0.5%. Unlocking is expected at 05:30 on April 12.
APT has increased by around 8% over the past 24 hours, outperforming Bitcoin (BTC) and the overall market. The Aptos network is currently valued at over $2.3 billion by market cap.
APT unlock is worth over $50 million at current prices. Unlocking refers to the automatic public release of new tokens from any blockchain network, usually based on pre-planned token plans.
Around 84% of the total APT tokens are still locked, meaning current valuations are likely to plummet in the long run as most of the tokens are not yet released.
Token unlocks are important events that have the power to influence the market as participants react to the move.
The launch of tokens allows early investors, developers or other owners to sell their holdings while the price is still high, adding to the selling pressure.
However, depending on the underlying demand, new investors or traders may increase their current holdings for the token in question, leading the price to rise after the initial selling pressure has subsided.
*Not investment advice.