TechFlow reports, citing Token Unlocks data, that Aptos will unlock 20 million APT tokens at 8:00 AM Beijing time on November 12 (worth approximately $103 million based on the current price of $5.17), representing over 8.5% of Aptos' circulating supply of 235.02 million. These tokens mark the first release for team members and investors.
Research firm The Tie noted that the volume of APT tokens to be unlocked in November amounts to 112% of the average daily trading volume over the previous 30 days. Earlier this year, the research firm indicated that liquidity releases exceeding 100% of average daily trading volume tend to exert downward pressure on prices.
In addition, recent positioning data from perpetual futures markets linked to APT suggest that crypto traders have already turned bearish on the token. The APT token's open interest-weighted funding rate is currently at its lowest level since February.
