During the intraday trading session on 12 February, Layer 1 (L1) blockchain Aptos [APT] conducted its third token unlock since the 2023 trading year started.
According to Aptos Watcher, the L1 network unlocked 4.5 million APT tokens, which make up around 0.45% of its total supply. As of this writing, according to data from CoinMarketCap, the altcoin’s circulating supply was 162.62 million APT tokens.
At press time, APT traded at $13.04. Following the token unlock, APT’s price began to decline and has since shed 6% of its value. Following several weeks of the rally, APT’s price might be due for a reversal, daily chart readings suggested.
In January, APT’s price surged astronomically to peak at $19.81 on 30 January. Unfortunately, buying momentum declined, causing APT to drop from this all-time high.
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