CryptoRank: Aptos Token Unlock to Add $161M to Circulation

Bitcoin (BTC) briefly reclaimed the $100,000 price level but failed to sustain the momentum, falling to $99,048 after hitting a daily low of $98,579.36. Meanwhile, news of significant token unlocks this week added to the bearish sentiment in the crypto market.

According to CryptoRank.io, the largest unlocking event involves the Aptos (APT) blockchain. On December 12, $161.20 million worth of APT tokens will be released, amounting to 11.31 million tokens. Over the past day, APT has dropped 4.15%, trading at $13.81, as reported by CoinMarketCap.

Other Significant Token Unlocks This Week

In addition to APT, several other cryptocurrencies are set for major unlocks:

• Starknet (STRK): $48.23 million worth of STRK tokens will be unlocked on December 15, introducing 63.99 million tokens into circulation. STRK dropped over 4% in the past day, trading at $0.7277.
• Moca Network (MOCA): On December 11, $17.36 million worth of MOCA tokens will hit the market, adding 178.51 million tokens to circulation.
• Delysium (AGI): $16.09 million worth of AGI tokens will also be unlocked on December 11, releasing 66.48 million tokens.
• Io.net (IO): $12.35 million worth of IO tokens, representing 3.47 million tokens, will join the market on December 11.

Further unlocks include $14.38 million worth of XAI on December 9 and $6.61 million worth of Highstreet (HIGH) on December 14.

APT Price Analysis Indicates Bearish Trends

CryptoRank’s APT price analysis shows a Relative Strength Index (RSI) value of 56.65, suggesting that bulls still control the short-term price action. Over the past week, APT gained 5.15%, while its 30-day performance reflects a 39.01% surge.

Read also: Top 5 Altcoins to Watch in December: SUI, APT, AVAX, LINK, and IOTA

The gradient of the RSI line, as seen in the image above, confirms that the sellers are aiming to take over and there are significant chances of APT crashing further in the near future as the buying volume has also depleted.

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