Aptos Soars 6.6% as Bears Expected to Return on Token Unlock

Aptos rides the Bitcoin wave with nearly perfect price correlation, but a $53M unlock is just around the corner.

An astronaut in a space suit is standing behind an orange globe and Aptos logo background.
  • Aptos’ market price correlated with Bitcoin, which broke $30,000.
  • The up-and-coming crypto still has 84.73% of total supply locked.
  • Aptos blockchain recently applied a gas reduction plan for its mainnet.

On Monday, the emerging blockchain Aptos (APT) correlated with the leading digital asset Bitcoin (BTC) to form a bullish pennant on the daily charts. Ranked #32 by global market capitalization, Aptos gained 6.6% in the last 24 hours, climbing to an $11.79 daily high. Meanwhile, the leading crypto asset Bitcoin scored 6.4% in the last 24 hours.

The nearly perfect price correlation between Aptos and Bitcoin comes as BTC broke the $30,000 barrier for the first time since June 2022. Ultimately, the recent price movement pushes APT to double-digit gains in the monthly charts.

$53M to Be Unlocked: Selling Pressure on APT?

The Aptos blockchain launched with a couple of hiccups in October 2022. However, many technical issues have been resolved since then. Controversially known for a high volume of scams and phishing attacks in the NFT sphere, the emerging blockchain managed to reduce counterfeit behavior dramatically.


More recently, the developer team behind Aptos launched a gas reduction plan, including crucial updates for Topaz, the leading NFT marketplace on Aptos.

Be that as it may, Aptos still has 84.73% of the native cryptocurrency tokens locked. Moreover, according to blockchain data, the nearest unlock of 4,543,478.03 $APT tokens will occur on Wednesday, 12th, 2023. That makes up 0.454% of the total supply, which could apply selling pressure on crypto traders because of increased circulation.

On The Flipside

  • The total supply of $APT tokens is capped at 1,028,864,490.
  • However, the max supply is infinite, according to CoinGecko.

Why You Should Care

Aptos (APT) is one of the most-watched altcoins this year due to its quick entrance into the TOP 30 crypto by global market cap.


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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.