Due to the fact that millions of tokens are about to unlock and reduce the amount in circulation, Aptos (APT) is temporarily facing an existential danger. The predetermined vesting timetable of the protocol will cause a total of 24.84 million APT, valued at much to $181.35 million, to be unlocked on November 12th, according to data from crypto analytics service Lookonchain.
https://x.com/lookonchain/status/1723275504806162661?s=20
As to Lookonchain’s observations, the Aptos network’s main contributors will get $87.04 million, or 11.88 million APT, once they are unlocked. 8.42 million APT, or $61.75 million, will be distributed to investors; the remaining 3.21 million APT, or $23.53 million, will go to the community, and 1.33 million APT, or $9.77 million, to the Aptos Foundation.
Expectations are being tempered by the possibility that the selected beneficiaries may liquidate these unlocked tokens. As a result, Aptos is being excluded from the current cryptocurrency rise. While other cryptocurrencies, such as Celsius (CEL) and FTX Token (FTT), are seeing a significant bull run, APT has fallen 1.17% to $7.34, and bears are threatening to take away the 6.52% gain that has been made over the last week.
Should APT holders be worried?
Notably, the original assumption is that there will be a successful sell-off in the unlock tomorrow; however, Lookonchain’s study suggests that the impact may not be realised to the fullest extent. Not only do the tokens scheduled for distribution make up just 9.96% of the total quantity that is now in circulation, but 83% of it is already staked.
This suggests that the unlock and possible sell-off may not have as great of an impact on APT and that the supply crisis is still in place. Aptos is a cryptocurrency that has historically shown the necessary fortitude in the face of challenging market conditions, as seen by its optimistic price prognosis.
Aptos’ most recent alliance with IT behemoths like Microsoft provides a solid foundation for the company to soon recover from its present sell-off.
