Layer 1 blockchain platform Aptos is planning on a token unlock, with market participants eagerly waiting for the collectibles. According to Token Unlocks, between May 2024 and October 2026, Aptos plans to progressively release $105.63 million worth of tokens onto the market.
11.31 million tokens will be released in this manner on the eleventh and twelfth of every month until the event is over. Taking on to social media platform X, Token Unlocks also stated that the Aptos team and the founders will receive 35% of the tokens, with the remaining 28% going to the community. Furthermore, 12% of the tokens will be kept in reserve and 25% will be distributed to private investors.
Releases of previously limited or locked tokens onto the market are referred to as token unlocks. After the tokens’ vesting time expires, they can be traded, purchased, and sold. The time frame during which the tokens are restricted is known as the vesting period.
Token unlocks are seen by most cryptocurrency investors as a cause for both excitement and worry since they can cause big changes in the market by either unlocking value and encouraging investment or by boosting supply and thus depressing prices.
With the current token unlock, Aptos’ market hype is at a steady soar. Usually, companies frequently plan their strategies around these unlocks, taking into account the possible short-term effects on token values as well as any broader market dynamics they may cause. Before a big unlocking, a lot of investors typically sell the tokens to subsequently purchase them at a lower cost.
Aptos Partners With Chainlink
The announcement on Aptos’ token unlock comes on the same day the blockchain platform announced partnering with Chainlink. As part of joining Chainlink’s SCALE initiative, Aptos has integrated data feeds and the Cross-Chain Interoperability Protocol (CCIP). The expansion intends to assist Aptos developers in creating decentralized applications (dApps) on the network.
$APT Token Rally Continues
APT prices traded in green after the revelation of the token unlock. At the press time, the digital currency was trading at $9.21, up nearly 1% as compared to the same time last day.
As Bankless Times previously reported, Aptos has demonstrated positive performance in the previous few days as well. Its native ecosystem token, APT, has seen a slight boost in value as well. The price of Aptos has increased for three consecutive days, maintaining the upward trend from the previous week.
