Aptos Price Outlook: Market Awaits $117M APT Token Unlocks in 5 Days
Crypto Market Anticipates Upcoming Aptos Token Unlock: Will $117 Million Worth of APT Tokens Impact Prices?
Key Takeaways:
- Aptos will unlock 11.31 million APT tokens (1% of total supply) on January 12, 2025, worth about $117 million.
- APT has increased by 6.87% in the last 24 hours and 16.64% over the past week.
- The token unlocks could lead to increased selling pressure, impacting short-term prices.
Aptos token holders are getting ready for the unlock of 11.31 million APT tokens, which make up 1.00% of the total supply, on January 12, 2025. That makes it around $117.13 million worth, or about 2.02% of its market cap at $5,786,852,200 at the time of writing.
Even with this big batch of tokens about to hit the market, the Aptos (APT) cryptocurrency is doing well in terms of price performance, leading the pack among altcoins concerning 24-hour gains. The APT coin jumped by 6.87% in the last day, bouncing from a low of $9.83 to a high of $10.57. Plus, it's up 16.64% over the past week.
Will APT Decline with the Token Unlock?
Several important token unlocks are happening soon, including those for Movement (MOVE), Jito (JTO), Neon (NEON), Axie Infinity (AXIE), AGI, and IO. The largest unlock is for Aptos, which will release tokens worth $117.13 million on Sunday, January 12, 2025.
Token unlocks represent the scheduled release of locked or vested tokens into the circulating supply. These events are critical to track as they directly influence token liquidity, demand, and price dynamics.
Aptos will unlock 11.31 million APT tokens this week, the largest unlock among them. This amount is 1% of the token's total supply and could increase its selling pressure.
Currently, APT trades at $10.57, and an increase in supply could negatively impact the market in the short term. This is because more circulating tokens could put downward pressure on prices, especially if many are sold quickly.
Related: AAVE Price Set to Hit $500, But It Might Drop to $220 First: Expert Analysis
However, the allocation plan shown on Cryptorank shows that 0.63% of tokens go to the community, 2.08% to core contributors, 0.81% to the Foundation, and 2.08% to investors.
If the unlocked tokens mainly go to long-term holders, it might not seriously affect market liquidity. Allocating tokens to the Foundation and the community may support broader goals for the ecosystem, helping to improve Aptos' use cases and adoption, which could lessen adverse market reactions.
Aptos Coin Price Outlook
In the first week of 2025, Aptos kicked off the year with some impressive achievements, adding over $100M to its Total Value Locked (TVL), which shot up to $1.074 billion and even hit $1.132 billion, according to DefilLama.
Data analyst Azin mentioned on X that the platform now has 4.3 million active wallets, bringing the total to 43 million. They've processed 39.3 million transactions with a success rate of 99.3%, showing that the network is buzzing with activity. On the NFT side, there were 2.3K unique trades worth $8.5K, and DEX trading volume reached $170.4 million, among other highlights.
Looking at the APT/USDT daily chart, the pair is trading at $10.33, which shows a promising upward trend. The price is pushing against the upper Bollinger band at $11.04, a sign that it might be a bit overbought, while support is at the lower band of $8.17.
The 50-day simple moving average (SMA) is sitting at $11.69, acting as resistance for now, but the 100-day SMA has been regained at $10.72, which is a positive sign. A recent breakout past the resistance level at $10.01, now acting as support, suggests a bullish shift.
Right now, immediate support is $10.01, with deeper support at the Bollinger band average of $9.60. If that level is broken, hitting resistance at $11.69 could set the stage for mid-December highs close to $14.00.
Joseph Alalade
Joseph has been actively involved in crypto for over half a decade, focusing on Web3 education for both technical and non-technical audiences. He is particularly interested in writing about trending Web3 updates, regulatory developments, and other exciting stories. He loves trading and analyzing crypto charts, and delving into technical documentations.
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