Aptos, a blockchain project in Layer 1, initiated the release of 24.8 million tokens on December 12, equivalent to 8.9% of its current circulating supply. Token unlockings are generally viewed as bearish events as they increase the asset’s supply by releasing coins from a vesting period, including to early investors.
The native token, APT, appears to be defying this trend. Instead of declining, APT amassed nearly 14% in gains over the past few days, climbing to levels not seen in the last six months. The total value of these tokens is estimated to be around $201.7 million.
Core contributors received the majority, with $96.4 million, while investors received $68.4 million, the community received $26.1 million, and the Aptos Foundation received $10.8 million, according to TokenUnlocks data.
In a previous unlocking event on November 12, an identical amount of APT tokens was released. The token experienced a 13.4% decline from $7.82 to $6.77 over the subsequent nine days following the un
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