Aptos (APT) Set to Release Tokens Valued at $103 Million
Crypto News – Aptos, a Layer 1 protocol founded by former Facebook employees, is gearing up for a significant token release event. According to data from TokenUnlocks, the project plans to issue 20 million APT tokens in November. With the current market price of $5.17 per token, this release amounts to an impressive $103 million worth of APT tokens, representing over 8.5% of Aptos’ total circulating supply of 235.02 million tokens.
This upcoming release of APT tokens is expected to infuse substantial liquidity into the market, as reported by research firm The Tie, which specializes in digital assets. Notably, the issuance of 20 million APT tokens surpasses 112% of the average daily trading volume observed over the preceding 30 days.
To manage this token release, APTwill follow a phased approach. In November, they will initially release 5.83 million APT tokens, equivalent to 32% of the average daily trading volume. By December, this figure is expected to increase to 6.15 million APT tokens. Over the past year, Aptos has consistently unlocked 4.62 million APT tokens each month for various community and organizational purposes.
It’s important to highlight that liquidity release events, especially those exceeding 100% of the average daily trading volume, can put downward pressure on token prices, as emphasized by The Tie. Therefore, market participants will closely monitor the impact of this substantial token release in November.