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Aptos’ $195M Token Unlock on Dec 12 Sparks Crypto Caution

Aptos' major token unlock on December 12, releasing 24.8M APT tokens worth $195M, sparks anticipation and caution in the crypto world.
Aptos’ $195M Token Unlock on Dec 12 Sparks Crypto Caution

On the brink of a significant event in the cryptocurrency world, Aptos, a renowned Layer 1 blockchain, is gearing up for a major token unlock. Scheduled for December 12, this event will see the release of 24.8 million APT tokens, a considerable 8.9% of its current circulating supply, valued at a striking $195 million. This development has sent ripples through the market, with investors and enthusiasts closely monitoring the potential impact on APT’s price.

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Previous Unlocks Hint at Market Trends

This isn’t the first time Aptos has navigated such waters. A previous unlock in November led to a notable 20% drop in the asset’s value within a week. Given this history, there’s a strong sense of déjà vu among investors, who are now preparing for a possible decline to $6.76, mirroring the earlier 20% decrease. The charts vividly illustrate this trend, with the APT/USDT pair showing a downward trajectory in anticipation of the unlock.

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APT’s On-Chain Metrics Signal Caution

Moreover, the underlying on-chain metrics add to the cautious stance of the market. Notably, despite an uptick in APT’s price between November 23 and December 11, there’s been a discernible dip in development activity. This divergence between development efforts and price is traditionally viewed as a bearish indicator. 

Additionally, APT’s trading volume hasn’t matched its previous peaks in August and October, even though the token recently hit a local high of $8.47 on December 8. This lack of volume momentum further supports a bearish outlook for the cryptocurrency.

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Aptos Price Analysis

As the market heads towards this crucial unlock date, Aptos trades at $7.73 on CoinMarketCap. This represents a nearly 4% decline over the past 24 hours, reflecting the market’s anxiety. 

APT/USD 1-day price chart

This upcoming unlock is a significant event for Aptos and a critical moment for investors and the broader crypto community, highlighting the often volatile and unpredictable nature of cryptocurrency markets.

Read Also: Lido DAO’s TVL Breaks 20-Month Milestone, LDO Price to Soar?

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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