The Layer 1 network Aptos, developed independently by blockchain engineers who worked on Meta’s (formerly Facebook) stablecoin project Diem, is on the verge of a significant event. On January 12, a substantial token unlock is scheduled, which is expected to release 24.84 million APT tokens into circulation, adding to the current supply of 309.32 million and potentially exerting downward pressure on the price.
The unlocked APT tokens, valued at $204.45 million, will increase the circulating supply to 334.16 million. The distribution of these tokens will allocate 1.33 million APT ($10.97 million) to the Aptos Foundation, 3.21 million APT ($26.42 million) to the community, 11.88 million APT ($97.73 million) to early contributors, and 8.42 million APT ($69.33 million) to project investors.
Ahead of the unlock event, APT’s price has seen a 14.88% increase over the past 24 hours, trading at $9.42. However, the price has dropped by 7.84% over the last week and risen by 19.10% in the past 30 days.
Experts warn investors of the potential price impact due to the influx of 24.84 million APT into the market, predicting a downward trend. They advise caution, suggesting that the price could be pressured lower following the unlock.
Historical data from the previous large token unlock on December 12, 2023, supports these predictions. The price of APT rose to $9.11 the day after the unlock but then entered a decline, dropping to $7.88 over the following six days.
