$APT surged as much as 15% ahead of a supply unlock that could add selling pressure in the days ahead, data suggests. By shauryamalwa.
Aptos tokens surged as much as 15% on Wednesday after the network announced a partnership with Microsoft . The surge comes ahead of a supply unlock that could add selling pressure, data suggests.
Just over 2% of the APT supply – worth $33 million at current prices – is set to be unlocked on August 12 at 05:30 am UTC,. This is part of a planned move and will decrease locked tokens to 80% of the total supply. Unlocks increase the circulating supply of any token in the open market, adding bearish sentiment if holders choose to sell and demand fails to keep up – causing prices to plunge quickly.predatory tokenomics
and concerns over the distribution of tokens – where core contributors, investors and the Aptos Foundation received almost half the 1 billion tokens issued. In contrast, Ethereum allocated just 9.9% of ether supply to the founding team and another 9.9% to the Ethereum Foundation during its 2015 issuance., a blockchain started by former Meta Inc. employees, said it was expanding its tools and services using Microsoft's artificial intelligence technology. Planned products include a chatbot called Aptos Assistant and AI tools for smart contract programming.
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