Aptos is on the verge of a scheduled token unlock slated for December 12. This unlocking will introduce 24.8 million APT token into circulation, equivalent to 8.9% of its current circulating supply, valued at an impressive $195 million.

The crypto world is brimming with both anticipation and caution in light of this impending development, sparking a keen interest among investors and enthusiasts about its potential impact on APT’s price trajectory.

Previous APT Token Unlocks and Market Trends

Aptos has previously experienced a similar APT token unlock event in November, which resulted in a significant 20% decline in the asset’s value within a week. This reference has investors preparing for a possible repetition, envisioning a decline mirroring the earlier drop to $6.76, constituting a 20% decrease.

Chart analysis of the APT/USDT pair vividly illustrates this downward trend, signaling market anticipation ahead of the unlock.

On-Chain Metrics and Cautious Signals

Underlying on-chain metrics add weight to the market’s cautious stance. Despite a price increase in APT token between November 23 and December 11, there has been a noticeable decrease in development activity. This divergence between price movement and development efforts typically signifies a bearish sentiment.

Furthermore, APT’s trading volume hasn’t reached previous highs seen in August and October, despite the token recently hitting a local high of $8.47 on December 8. This lack of volume momentum further corroborates a bearish outlook for the cryptocurrency.

Aptos Price Momentum

As of the moment, Aptos is trading at $7.73 on CoinMarketCap, reflecting a nearly 4% decline over the past 24 hours, showcasing the prevailing anxiety within the market leading up to the significant unlock event.

The impending token unlock for Aptos stands as a pivotal moment for both the platform and the wider crypto community. It underscores the inherently volatile and unpredictable nature of cryptocurrency markets, further prompting investors and stakeholders to closely observe its impact on APT’s price and market dynamics.

Read More:

London Pension Fund Allocates $20 Million to Crypto Derivatives Platform

Tether Freezes 41 Wallets Linked to OFAC SDN List

Avatar photo

Tanishi is an established writer in the realm of cryptocurrency and blockchain, renowned for her expertise and insightful analysis. With a deep-rooted passion for the dynamic world of digital finance, Tanishi delivers compelling news and articles that captivate a wide-ranging audience.