- APT tokens unlock boosts supply by 0.5%
- $50 million unlock value
- 84% APT tokens still locked
On April 12, the Aptos network is set to unlock millions of APT tokens, increasing the circulating supply by 0.5% in a highly anticipated move. The unlock, scheduled for 05:30 UTC, has stirred up discussions on the potential implications for the market.
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In the past 24 hours, APT has experienced an 8% surge, outshining Bitcoin and the broader crypto market, according to CoinGecko data. The Aptos network boasts a market capitalization of over $2.3 billion.
With a current value exceeding $50 million, the APT unlock is part of a pre-planned token release strategy. Token unlocks are events wherein new tokens are released into the open market, often based on predetermined token plans.
Despite this unlock, 84% of the total APT tokens remain locked, raising questions about the long-term impact on valuations as the majority of tokens to have yet to enter the market.
Token unlocks can significantly influence the market as participants respond to the increased supply. Early investors, developers, or other holders may choose to sell their assets at a high price, leading to selling pressure.
However, the market may also see newer investors or traders capitalizing on the unlock by increasing their existing holdings, resulting in a price rise once the initial selling pressure subsides. As the Aptos token unlock approaches, the market eagerly awaits to see whether it will present an opportunity or cause instability.
In other news, with its recent integration of zkSync, a layer-2 scaling protocol, Symbiosis DEX, an automated cross-chain market maker, has rocked the DeFi community. This innovative move seeks to increase the speed and decrease the fees of token exchanges on the platform, upending the landscape of decentralized exchanges.
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