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, APT has gained by 10.14% in the last 24 hours, emerging as part of the top gainers in today’s market.
According to data from the token tracker site Token Unlocks, 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.
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.
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.