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Aptos

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On the brink of a significant event in the cryptocurrency world, Aptos, a renowned Layer 1 blockchain, is gearing up for a major token unlock. Scheduled for December 12, this event will see the release of 24.8 million APT tokens, a considerable 8.9% of its current circulating supply, valued at a striking $195 million. This <a href="https://coingape.com/crypto-market-on-edge-as-major-token-unlock-events-loom/">development</a> has sent ripples through the market, with investors and enthusiasts closely monitoring the potential impact on APT’s price. 
<h2 id="previous-unlocks-hint-at-market-trends">Previous Unlocks Hint at Market Trends</h2> 
This isn’t the first time Aptos has navigated such waters. A previous unlock in November led to a notable 20% drop in the asset’s value within a week. Given this history, there’s a strong sense of déjà vu among investors, who are now preparing for a possible decline to $6.76, mirroring the earlier 20% decrease. The charts vividly illustrate this trend, with the APT/USDT pair showing a downward trajectory in anticipation of the unlock. 
<h2 id="apt-s-on-chain-metrics-signal-caution">APT’s On-Chain Metrics Signal Caution</h2> 
Moreover, the underlying on-chain metrics add to the cautious stance of the market. Notably, despite an <a href="https://coingape.com/markets/aptos-price-prediction-as-buyers-break-200-days-resistance/">uptick</a> in APT’s price between November 23 and December 11, there’s been a discernible dip in development activity. This divergence between development efforts and price is traditionally viewed as a bearish indicator.&nbsp; 
Additionally, APT’s trading volume hasn’t matched its previous peaks in August and October, even though the token recently hit a local high of $8.47 on December 8. This lack of volume momentum further supports a bearish outlook for the cryptocurrency. 
<h2 id="aptos-price-analysis">Aptos Price Analysis</h2> 
As the market heads towards this crucial unlock date, Aptos <a href="https://coingape.com/price/aptos/">trades</a> at $7.73 on CoinMarketCap. This represents a nearly 4% decline over the past 24 hours, reflecting the market’s anxiety.&nbsp; 
<img decoding="async" class="aligncenter wp-image-168793" src="https://cdn.coingape.com/wp-content/uploads/2023/12/11210928/Screenshot-2023-12-11T182914.994.png" alt="" width="580" height="378" srcset="https://cdn.coingape.com/wp-content/uploads/2023/12/11210928/Screenshot-2023-12-11T182914.994.png 714w, https://cdn.coingape.com/wp-content/uploads/2023/12/11210928/Screenshot-2023-12-11T182914.994-300x195.png 300w, https://cdn.coingape.com/wp-content/uploads/2023/12/11210928/Screenshot-2023-12-11T182914.994-150x98.png 150w" sizes="(max-width: 580px) 100vw, 580px"> 
APT/USD 1-day price chart 
This upcoming unlock is a significant event for Aptos and a critical moment for investors and the broader crypto community, highlighting the often volatile and unpredictable nature of cryptocurrency markets. 
Read Also: <a href="https://coingape.com/lido-daos-tvl-breaks-20-month-milestone-ldo-price-to-soar/?utm_source=cgtelegram">Lido DAO’s TVL Breaks 20-Month Milestone, LDO Price to Soar?</a> 
The post <a rel="nofollow" href="https://coingape.com/aptos-195m-token-unlock-on-dec-12-sparks-crypto-caution/">Aptos’ $195M Token Unlock on Dec 12 Sparks Crypto Caution</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Aptos’ $195M Token Unlock on Dec 12 Sparks Crypto Caution

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