According to Token UnlocksS data, Aptos will unlock 20 million APT tokens (about $103 million at the current price of $5.17) at 8:00 am on November 12, Beijing time, which is equivalent to more than 8.5% of the Aptos circulation supply of 235.02 million tokens. These tokens are unlocked for the first time by the team and investors.
The number of APT tokens unlocked in November was equivalent to 112% of the average daily trading volume in the previous 30 days, according to research firm The Tie, which said earlier this year that the release of liquidity, or liquidity accounting for more than 100% of average daily trading volume, tends to move prices.
In addition, the latest position data for the APT-related perpetual futures market shows that crypto traders have begun to bearish on the token. The APT token open interest weighted funding rate is currently at its lowest level since February.
