Several projects are gearing up to release new tokens between December 11 and 17, as indicated by data from Token Unlocks. Among the noteworthy participants in this release schedule are Aptos (APT), 1inch Network (1INCH), ApeCoin (APE), Flow (FLOW), and CyberConnect (CYBER).
New Token Unlocks Planned for APT, 1NCH, APE, FLOW, CYBER Sets
Token unlocks involve the planned distribution of previously restricted tokens into the market. Typically, these tokens are earmarked for investors, stakeholders, or project developers. The scheduled release of these cryptocurrencies plays a crucial role in maintaining a balanced market supply in alignment with the demand for these tokens.
Aptos (APT)
Aptos has outlined plans to release 8.90% of its total supply on December 12, with the market value of these tokens estimated at $206.94 million. As of the latest data, APT was trading at $8.32, reflecting a 3% decline in the past 24 hours.
Between December 7 and 9, Aptos witnessed a notable surge in buying pressure, as evidenced by the Accumulation/Distribution (A/D) line. This increased accumulation contributed to the token’s ascent beyond the $8 mark.
However, the resistance encountered at $8.58 led to a subsequent decline in the price action. Additionally, data at the time of reporting indicated a shift in control from accumulation to distribution.
1inch Network (1INCH)
The token unlock for 1inch is imminent, scheduled to occur in less than five days. However, in contrast to Aptos, 1inch is releasing only a small portion of its locked tokens, as it had already released 78.90% of its total supply.
As of the latest data, the price of 1inch stands at $0.41, having experienced a notable 16.21% increase in the past seven days. According to the 4-hour chart, there are indications that the price of 1inch may dip below $0.40, as suggested by the observations of the Relative Strength Index (RSI).
ApeCoin (APE)
The imminent token unlock for ApeCoin is estimated at $29.17 million, equivalent to 4.23% of its total supply. While the unlock event may potentially exert a bearish influence on APE’s price action, the prevailing momentum indicates a resolute stance from bulls in defending the ongoing uptrend against selling pressure.
This determination is visibly reflected in the Directional Movement Index (DMI). At the time of reporting, the +DMI (green) registered at 28.65, surpassing the -DMI (red) at 5.73. This discernible difference underscores the prevailing dominance of buyers.
Flow (FLOW)
In contrast to several other cryptocurrencies experiencing losses in the past 24 hours, Flow demonstrated a modest gain of 0.17%, reaching $0.86. The 4-hour chart for FLOW/USD also indicated a bullish market structure.
However, the impending $2.25 million token unlock introduces a potential challenge to the current bullish momentum. Presently, the 9-day Exponential Moving Average (EMA – blue) has crossed above the 20-day EMA (yellow), signaling a robust bullish sentiment for FLOW.
CyberConnect (CYBER)
Finally, we have CYBER, the native token of the web3 social network project. This year, CyberConnect gained notable attention, fueled by the growing narrative surrounding Social Finance in the crypto ecosystem. During the period from November 30 to December 4, the cryptocurrency saw a price increase from $5.98 to $6.82. However, its recent trajectory has been characterized by sideways movement. At the time of this writing, the buying momentum has weakened, as evidenced by the Relative Strength Index (RSI) falling to 46.50.
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