Aptos to unlock 24M tokens – Will it impact APT’s dwindling price action

• Aptos will unlock over 24 million tokens in the coming week.
• The unlocked tokens make up over 8% of the circulating supply.

Next week, Aptos [APT] will experience an unlocking event, introducing additional assets into circulation. The tokens to be unlocked hold the highest value for the week and constitute a noteworthy addition to the existing circulating supply.

More Aptos to hit the market

Based on data obtained from Token Unlocks, Aptos will undergo an unlocking event in about five days. The data showed that 24.84 million APTs, valued at over $260 million, will be unlocked.

Notably, these unlocked tokens make up over 8% of the circulating supply. 

Also, core contributors will receive 11.88 million APTs, worth around $125 million, representing about 4% of the market cap. Following are investors who will receive 8.42 million APTs, valued at around $88.5 million.

Additionally, the remaining tokens will be allocated to the community (3.21 million) and Foundation (1.33 million). As of this writing, the circulating supply of APT was over 308 million, with a current market cap of around $2.8 billion.

Aptos sees its highest volume in months

A look at the Aptos’ daily volume trend chart on Santiment showed a notable upswing in recent activity. The chart showed a gradual increase in volume starting around 2nd January, with a peak recorded on 5th January.

The volume observed on 5th January was over $700 million, a substantial rise from the $100 million recorded at the beginning of the year.

This figure represents the highest volume Aptos has experienced in over five months. As of this writing, the current volume was over $370 million.

Source: Santiment

The impending introduction of extra tokens into circulation raises questions about its potential impact on the volume trend. However, current expectations are optimistic, with no anticipated negative effects on volume and price trends.

APT bull trend continues to weaken 

After experiencing a setback of about 11.6% on 3rd January, Aptos rebounded with a gain of over 13% on 4th January. Unfortunately, it struggled to sustain these gains, evident in its daily timeframe chart.

Ongoing analysis of the chart showed consecutive losses. On 5th January, Aptos concluded trading with a loss of around 6.4%. As of this writing, it was trading at a loss of over 5% and valued at around $9.1.

Source: Trading View

How much are 1,10,100 APTs worth today

Additionally, the current price decline brought Aptos close to crossing below the neutral line on its Relative Strength Index (RSI).

The current trend in the RSI showed a weakening of its bullish trend.