The surge of APT tokens continues as $50 million worth of tokens will be unlocked in a planned move that will increase the circulating supply by 0.5%. The unlock is scheduled for Wednesday, April 12th, at 05:30 UTC.
Unlocking automatically releases new tokens from a blockchain network into the open market. This type of release is often based on previously planned tokens. Releasing these tokens could impact the value of the APT token and the overall market.
The current market capitalization of the Aptos network is over $2.3 billion, and the APT token rose by more than 5% in the past 24 hours, according to Coinmarketcap data. Further, APT outperformed Bitcoin (BTC) and the broader market.
APT/USD price chart, source: Coinmarketcap
Investors and analysts closely monitor the APT token’s performance, as its recent surge and outperformance of Bitcoin and the broader market have generated interest. However, the rising market capitalization of the Aptos network indicates that investors are bullish on the network and its native token’s prospects. In particular, APT is now trading at $11.64, up 5.40% in only a day.