Aptos recently executed a scheduled token unlock worth $64.97 million, releasing over 11 million APT into circulation. This significant event led to a surge in trading volume, reaching a 30-day peak of over $374 million, and signaled potential volatility in the market.
*Token Unlock Breakdown:*
- *Community*: 3.21 million APT ($18.44 million)
- *Core Contributors*: 3.96 million APT ($22.74 million)
- *Foundation*: 1.33 million APT ($7.66 million)
- *Investors*: 2.81 million APT ($16.13 million)
The unlock accounted for 1.13% of Aptos' total supply and 1.79% of its circulating float. Initially, the news caused Aptos price to plunge below $6, but it has since recovered above $6.20. Derivatives traders remain net long despite losses, indicating resilient bullish sentiment.¹
*Key Factors Influencing Aptos Price:*
- *Trading Volume*: Aptos trading volume hit a 30-day peak, indicating increased market activity.
- *Funding Interest*: Aptos funding interest remains positive, suggesting traders are still bullish on the token.
- *Market Sentiment*: Broader market sentiment, anchored by Bitcoin's steady consolidation above $100,000, is helping Aptos avoid deeper sell-offs.
Overall, Aptos markets are holding steady amid the token unlock, and the price recovery suggests a potential rebound.