{"id":26326,"date":"2023-07-05T11:53:52","date_gmt":"2023-07-05T15:53:52","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=26326"},"modified":"2023-07-05T11:53:52","modified_gmt":"2023-07-05T15:53:52","slug":"aptos-apt-gains-by-10-ahead-of-july-token-release","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/05\/aptos-apt-gains-by-10-ahead-of-july-token-release\/","title":{"rendered":"Aptos (APT) Gains By 10% Ahead Of July Token Release"},"content":{"rendered":"

APT, the native token of the Aptos Network, is currently making market waves as it prepares for its upcoming token release in July. According to data by CoinMarketCap<\/a>, APT has gained by 10.14% in the last 24 hours, emerging as part of the top gainers in today\u2019s market.\u00a0<\/p>\n

Aptos Anticipates New Token Release<\/h2>\n

According to data from the token tracker site Token Unlocks<\/a>,\u00a0 4.54 million APT tokens, valued at $36.94 million, are scheduled to be released on July 12. This upcoming token release will account for 2.17% of the total circulating supply.\u00a0<\/p>\n

For investors familiar with the APT market, this is quite normal, as the Aptos Network is programmed to unlock new tokens on the 12th of each month.<\/p>\n

These tokens are released to the Aptos Foundation as well as its user community to support ecosystem projects, provide grants, and push other community growth initiatives.\u00a0<\/p>\n

Related Reading: Coinbase Stock Soars Nearly 12% As BlackRock Reveals Surveillance Partnership<\/a><\/p>\n

However, while APT is currently gaining, the effects of token release on the market are unpredictable, as seen in previous times. In January, APT witnessed a jump of over 50% following the scheduled unlock but fell by 13% in February after the same event occurred.<\/p>\n

Following the launch of the Aptos Mainnet in October 2022, the total supply of APT tokens stood at 1 billion. Of this amount, data from Token Unlocks shows that 166.35 million APT tokens have been unlocked so far, representing only 17% of the total supply.<\/p>\n

APT Price Analysis<\/h2>\n

On Saturday, October 19, 2022, the Aptos (APT) token made an impressive debut in the crypto market, reaching a market price of $100.\u00a0<\/p>\n

However, this was followed by a sharp downturn as the price plunged to the $3.5 level. Over the next three months, APT gradually recovered and climbed to the $20.00 price zone, where it was resisted.\u00a0<\/p>\n

Since then, the token has experienced an overall bearish trend losing over 58% of its value to date.<\/p>\n\n

Looking at the APT hourly chart, the token\u2019s current price movement suggests it has encountered a resistance zone at the price level of $8.33.<\/p>\n

If APT is able to break through this barrier, it will continue its bullish momentum and possibly trade as high as $8.82, which appears to be the next resistance zone.\u00a0<\/p>\n

Related Reading: USDC Circulating Supply Down 38% Since Jan. 1 \u2013 Will It Affect Price?<\/a><\/p>\n

However, failure to push past the $8.33 price mark may induce a bearish trend with the possibility of the token falling to a market price of $7.14, which represents the next support level.\u00a0<\/p>\n

At the time of writing, APT is currently trading at $8.1556, with a 0.17% decrease in the last hour. The token\u2019s daily trading volume is also up by $276 million, with a 137% gain.\u00a0Aptos stands as the 33rd biggest cryptocurrency with a market cap of $2 billion.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

APT, the native token of the Aptos Network, is currently making market waves as it prepares for its upcoming token release in July. According to data by CoinMarketCap<\/a>, APT has gained by 10.14% in the last 24 hours, emerging as part of the top gainers in today\u2019s market.\u00a0<\/p>\n

Aptos Anticipates New Token Release<\/h2>\n

According to data from the token tracker site Token Unlocks<\/a>,\u00a0 4.54 million APT tokens, valued at $36.94 million, are scheduled to be released on July 12. This upcoming token release will account for 2.17% of the total circulating supply.\u00a0<\/p>\n

For investors familiar with the APT market, this is quite normal, as the Aptos Network is programmed to unlock new tokens on the 12th of each month.<\/p>\n

These tokens are released to the Aptos Foundation as well as its user community to support ecosystem projects, provide grants, and push other community growth initiatives.\u00a0<\/p>\n

Related Reading: Coinbase Stock Soars Nearly 12% As BlackRock Reveals Surveillance Partnership<\/a><\/p>\n

However, while APT is currently gaining, the effects of token release on the market are unpredictable, as seen in previous times. In January, APT witnessed a jump of over 50% following the scheduled unlock but fell by 13% in February after the same event occurred.<\/p>\n

Following the launch of the Aptos Mainnet in October 2022, the total supply of APT tokens stood at 1 billion. Of this amount, data from Token Unlocks shows that 166.35 million APT tokens have been unlocked so far, representing only 17% of the total supply.<\/p>\n

APT Price Analysis<\/h2>\n

On Saturday, October 19, 2022, the Aptos (APT) token made an impressive debut in the crypto market, reaching a market price of $100.\u00a0<\/p>\n

However, this was followed by a sharp downturn as the price plunged to the $3.5 level. Over the next three months, APT gradually recovered and climbed to the $20.00 price zone, where it was resisted.\u00a0<\/p>\n

Since then, the token has experienced an overall bearish trend losing over 58% of its value to date.<\/p>\n

Looking at the APT hourly chart, the token\u2019s current price movement suggests it has encountered a resistance zone at the price level of $8.33.<\/p>\n

If APT is able to break through this barrier, it will continue its bullish momentum and possibly trade as high as $8.82, which appears to be the next resistance zone.\u00a0<\/p>\n

Related Reading: USDC Circulating Supply Down 38% Since Jan. 1 \u2013 Will It Affect Price?<\/a><\/p>\n

However, failure to push past the $8.33 price mark may induce a bearish trend with the possibility of the token falling to a market price of $7.14, which represents the next support level.\u00a0<\/p>\n

At the time of writing, APT is currently trading at $8.1556, with a 0.17% decrease in the last hour. The token\u2019s daily trading volume is also up by $276 million, with a 137% gain.\u00a0Aptos stands as the 33rd biggest cryptocurrency with a market cap of $2 billion.\u00a0<\/p>\n

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