Aptos (APT) has shed more than 5% on a weekly basis prior to the $32.38 million unlock on July 12. In this event, known as the token unlock, these projects release millions of dollars worth of tokens. In the coming days, 2 more altcoins are preparing for a selling wave.
After Aptos (APT), these 2 more altcoins will launch millions
Aptos (APT), ApeCoin (APE) and ImmutableX (IMX) are likely to see more selling this week. Today, Aptos unlocked a massive amount of tokens. It added another $32.38 million to its supply, according to the data. The token is currently showing a price drop of over 5% in its seven-day timeframe. It has made a slight gain in the last 24 hours, moving away from the risk of further declines. At the time of writing, it is trading in the region of $ 7.05.
Additionally, Aptos’ last 24-hour trading volume exceeded $94 million. It’s growing over 14% at the time of writing. Analysis of the daily chart reveals a lack of positive momentum in anticipation of unlocking. Currently, APT price continues to hold the $7 zone. It has moved below 1% compared to the last 24 hours. Meanwhile, BTC and ETH most major altcoins are trading in the green around 1.5%.
Next up are IMX and APE
After Aptos, it will perform token unlocks on IMX and APE on July 15 and 17 respectively. Between the two, 1.7% and 4% of their individual supply, respectively. A total of 42.62 million dollars will be released to the market.
APT starts countdown for next token unlock
The sequel to the next token unlock for Aptos is scheduled for August 12, about a month from now. The countdown has already begun when 32.12% of the remaining supply will be unlocked.
Token unlock and its impact on price
Token unlocking, as the name suggests, is an event where a set amount of tokens are released. Specifically, locked tokens are often confiscated by the team behind the project and investors who are unable to sell or transfer them by an agreed date determined by meeting certain conditions.
The main advantage of token unlocking is that it offers investors more liquidity and flexibility, making it possible to sell or transfer their tokens whenever they want. However, investors should be aware that unlocking tokens often comes with increased volatility and price instability, especially if large investors decide to dump their tokens all at once. Accordingly, traders need to be prepared for big fluctuations in Aptos price today and in the week for both ApeCoin and ImmutableX.
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