Aptos Anticipates New Token Release
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.
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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.
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.