Aptos unlocks nearly 25 million APT tokens, worth over $200 million

Layer 1 blockchain Aptos, founded by ex-Meta execs, released 24.8 million tokens today comprising 8.9% of its circulating supply, according to TokenUnlocks worth approximately $201.7 million. The majority some $96.4 million of the unlock went to core contributors. $68.4 million went to investors, $26.1 million went to the community and $10.8 million went to the Aptos Foundation,

TokenUnlocks data states. Following the release of the same amount of APT tokens during its Nov. 12 unlock, the price of APT fell 13.4% from $7.82 to $6.77 in the following nine days before recovering, according to The Block’s price data. The token currently trades at $8.09 up 3.4% since the last unlock amid generally bullish crypto market conditions.

Aptos is a relatively new Layer 1 blockchain based on the Move programming language developed at Meta that aims to offer a faster and more scalable alternative to other networks. However, Aptos encountered a five-hour outage in October, prompting some crypto exchanges including Binance, OKX, and Upbit to suspend deposits and withdrawals of APT temporarily.

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