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Aptos loses 1% value as token unlock nears

2min Read

Aptos teeters on the precipice of a cliff unlock, awaiting its fate as millions of tokens prepare for release. 

Aptos loses 1% value as token unlock nears

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  • More than $32 million APT will be unlocked on 11 July.
  • APT lost over 1% in value as unlock hour approached.

Aptos [APT] is on the brink of an imminent cliff unlock, as it is set to take place in a few hours. As the unlock nears, will there be any notable repercussions on APT’s trajectory?


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Aptos to see Cliff unlock

Recent data from Token Unlocks revealed that a significant number of tokens, amounting to over $80 million, were scheduled to be unlocked this week. This included Aptos as well.

The statistics indicated that the value of APT tokens to be unlocked amounted to $32.21 million. The value accounted for approximately 2.2% of the total supply. Notably, these tokens followed a cliff unlock mechanism.

It is worth noting that the unlocked tokens were intended for distribution to the community and the Foundation, with the community receiving most of the allocation.

In this context, cliffs represent a designated period that must transpire before the tokens are released. The duration of these cliffs can vary depending on the purpose behind the token allocation.

Impact on Aptos?

Based on data provided by Coin Market Cap, APT had a circulating supply of 210.3 million tokens at press time. Furthermore, the data reported that the total supply surpassed 1 billion tokens.

Additionally, within the past 24 hours, the trading volume exceeded $94 million, experiencing a growth of over 14% as of this writing. These metrics suggested that despite the forthcoming unlock of more APT tokens, it might not significantly impact the price trend.

The tokens set to be unlocked represent only 2% of the total supply, which is lower than the daily trading volume the token typically witnesses.

Poor price trend as unlock looms

Analyzing the daily price trend of APT revealed a lack of positive momentum in anticipation of the unlock. As of this writing, the token was trading at approximately $7, reflecting a decline of over 1%.


Realistic or not, here’s APT’s market cap in BTC’s terms


Moreover, the overall trend had been underwhelming, as indicated by a downtrend on the chart. This unimpressive trend was further supported by the Relative Strength Index (RSI), which was below the neutral line, signaling a bearish trend. 

Aptos price trend

Source: TradingView

The short Moving Average (yellow line) also acted as a resistance level, with the price consistently trending below it.

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Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.
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