Approaching the $188 million lock opening, Aptos (APT) is trying to get the bulls’ appetite behind it.
Bitcoin (BTC) managed to attract all the attention by rising to $ 44,500. While the bull run was thought to have begun, new investors began to join the sector. Crypto investors were excited as BTC surpassed the $40,000 threshold. While the crypto market was experiencing spring weather, it was noteworthy that some altcoins did not rise. In particular, Arbitrum and Optimism, known as Layer-2 projects, exhibited activity in a certain price range. On the other hand, although Aptos focused on project development, it could not achieve the desired outcome.
While the APT price was active at the $ 7.6 level, it approached a significant breakout. Aptos will realize a $188 million lock opening in 5 days. While this lock opening is expected to create volatility in APT, the attitude of the bulls will also become an important factor.
Aptos (APT) remains calm ahead of the lockdown
Aptos (APT) will hold a major unlock on December 12, 2023. According to TokenUnlocks data, $188 million worth of APT will be put into circulation during the unlocking, which is planned to take place in 5 days. A large portion of the 24.84 million APT will be distributed to those who contributed in the seed phase.
According to TokenUnlocks data, the 24.84 million APTs to be unlocked correspond to 8.93 percent of the total circulating supply. For this reason, it is thought that there may be volatility on the APT side.
APT distribution in the $188 million unlocking will be as follows;
- To the foundation; 1.33 million APT ($10.12 million)
- To those who contributed at the core stage; 11.88 million APT ($90.13 million)
- To investors; 8.42 million APT ($63.94 million)
- To the community; 3.21 million APT ($24.36 million)
APT has a market value of $2.112 billion. The market value of APT based on its total supply is 8,214 billion dollars. In addition, APT’s transaction volume in the last 24 hours decreased by 20 percent to 173 million dollars.
In the crypto market, which has been going through active days, it is noteworthy that APT maintains price stability as it gets closer to the unlocking. APT is trading at a significant price point.
Looking at the APT chart, it seems that the price is positioned in an important region. If APT persists above $7.70, it could rise to $8.25, one of the main resistance points. This region stands out as a price level where sales pressure will be intense. If $8.25 is breached, there is a large gap for APT price. This gap could move APT to the $9.43 band. APT’s major resistance point is at $10.32. APT could test the major resistance point if it sustains above $9.43.
On the other hand, APT may decline due to the volatility and sales pressure caused by the unlocking. In the possible decline of APT, the box in the $7 region will be critical. The support break caused by possible bear pressure in this region may intensify APT’s decline. The next support point for APT will be between $6.38 and $6.30. If this region is lost, APT may test the trend support at 5.95.
