Aptos

April

Pyth Network

ApeCoin

<div class="finbold">
 <p class="paragraph">The layer-1 cryptocurrency developed by former Meta (Facebook) engineers, Aptos (APT), may face a massive <a rel="noopener noreferrer nofollow" title="sell-" href="https://thebittimes.com/tag/sell.html">sell-</a>off after April 12, Friday. That is due to a scheduled <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a> worth nearly $300 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>, which may cause significant supply inflow to exchanges.</p>
 <p class="paragraph">Notably, vesting contracts will unlock 24.84 million APT by the end of the week, worth $298.11 million. This, according to <em>TokenUnlocksApp</em> data, represents 6.2% of Aptos’s market capitalization, which evidences its event’s relevancy for cryptocurrency traders.</p>
 <p class="paragraph">In particular, ‘Core Contributors’ and ‘Investors’ will receive 81.7% of the unlocked tokens, summing up to 20.3 million. These entities will receive 11.88 million and 8.42 million APT, respectively. Meanwhile, the ‘Foundation’ and the ‘Community’ will receive the remaining 4.54 million APT – 1.33 million and 3.21 million each.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Portofino Technologies joins Pyth Network as a new data provider <span class="self-center text-xs text-slate-500">48 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    The 'degenerate' diaries: Unpacking the tactics of r/wallstreetbets traders <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Opportunity? Cardano is 'exactly where it should be' for a breakout <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Sell signal for an overbought cryptocurrency this week <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Furthermore, this <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a> is nearly 50% of all the $601.59 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> cliff <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a>s for the next seven days. Cryptocurrencies like Arbitrum (ARB), Starknet (STRK), ApeCoin (APE), and Render Network (RNDR) make up the other half.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="990" height="870" src="https://cdn.thebittimes.com/images/2024/04/10/b8ce0be3b092eb7e0ee5574c0966bcf5.webp" alt class="wp-image-167887" srcset="https://cdn.thebittimes.com/images/2024/04/10/b8ce0be3b092eb7e0ee5574c0966bcf5.webp 990w, https://cdn.thebittimes.com/images/2024/04/10/b8ce0be3b092eb7e0ee5574c0966bcf5.webp 300w, https://cdn.thebittimes.com/images/2024/04/10/b8ce0be3b092eb7e0ee5574c0966bcf5.webp 768w" sizes="(max-width: 990px) 100vw, 990px">
  <figcaption class="wp-element-caption">
   Cliff Unlocks Next 7 days – Aptos (APT) distribution. Source: <em>TokenUnlocksApp</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-aptos-apt-price-analysis-amid-a-300-million-token-unlock">Aptos (APT) price analysis amid a $300 million token unlock</h2>
 <p class="paragraph">It is worth noting that Aptos traders already started selling off days before the reported token unlock. Interestingly, APT reached a local high of $19.34 per token on March 26, trading in a downtrend since then.</p>
 <p class="paragraph">A key point for the cryptocurrency was between April 3 and 8, testing the 50-day exponential moving average (EMA) support. Aptos failed to hold this level around $13.5 and registered a drop, leading to current prices at $11.83.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/04/10/8dc3ad07d456cd365e2b4618c4f7165f.webp" alt class="wp-image-167888" srcset="https://cdn.thebittimes.com/images/2024/04/10/8dc3ad07d456cd365e2b4618c4f7165f.webp 1024w, https://cdn.thebittimes.com/images/2024/04/10/8dc3ad07d456cd365e2b4618c4f7165f.webp 300w, https://cdn.thebittimes.com/images/2024/04/10/8dc3ad07d456cd365e2b4618c4f7165f.webp 768w, https://cdn.thebittimes.com/images/2024/04/10/8dc3ad07d456cd365e2b4618c4f7165f.webp 1536w, https://cdn.thebittimes.com/images/2024/04/10/8dc3ad07d456cd365e2b4618c4f7165f.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   APT/USD daily chart. Source: <em>TradingView</em> (Finbold)
  </figcaption>
 </figure>
 <p class="paragraph">Now, the token could be heading toward two spotted supports in its daily chart against the dollar. One is at around $9.50 and the following meets the psychological round number of $8.00.&nbsp;</p>
 <p class="paragraph">Therefore, these isolated targets make for a potential price range APT could visit after the $300 million token unlock sell-off.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/massive-sell-off-alert-amid-300-million-token-unlock-on-friday-tbt85020.html">https://thebittimes.com/massive-sell-off-alert-amid-300-million-token-unlock-on-friday-tbt85020.html</a></p>

Massive sell-off alert amid $300 million token unlock on Friday

Table of Contents

TheBitTimes

Другие статьи, опубликованные 10 апр. 2024 г.

Shiba Inu Burn Rate Soars Over 1,300%: Price Impact Under Scrutiny

Bitcoin Eyes New ATH of $82,000 as Bullish Pennant Takes Shape; Filecoin Contender Witnesses Heig...

Binance Margin Introduces Five Altcoins and Fresh Trading Pairs to Platform

New Cryptocurrency Releases, Listings, & Presales Today — Spiderswap, Dogita, Versity

FILLiquid Launches Second Testnet Phase, Providing Another Chance for a Free $FIG Airdrop

Permissionless Capital Hosts Game-Changing Event for Web3 Entrepreneurs

Join our free newsletter for daily crypto updates!