-
Nearly
25
million
of
locked-up
APT
tokens
will
be
released
Friday
including
to
early
investors,
TokenUnlocks
data
shows. -
Prices
historically
decline
around
such
events
as
the
supply
increase
outpaces
investor
demand
for
the
asset,
according
to
research.
The
native
cryptocurrency
of
layer-1
blockchain
Aptos
(APT)
underperformed
the
crypto
market
ahead
of
an
almost
$300
million
supply
event
due
this
week
that
will
increase
the
number
of
circulating
tokens.
APT
declined
more
than
16%
over
the
past
week
while
major
crypto
assets
bitcoin
(BTC)
and
ether
(ETH)
gained
3%
and
5%,
respectively.
It
was
the
second-worst
performing
constituent
of
the
broad-market
CoinDesk
20
Index,
beating
only
the
token
of
decentralized
exchange
Uniswap
(UNI)
which
tumbled
on
regulatory
actions
in
the
U.S.
The
difficult
week
occurred
ahead
of
24.84
million
of
previously
locked-up
APT
tokens
that
are
scheduled
to
be
released
on
April
12,
TokenUnlocks
data
shows.
The
actual
time
when
assets
can
be
moved
after
the
release
could
be
around
1-2
days
after
the
event,
the
website
adds.
Some
$141
million
worth
of
tokens
will
be
distributed
to
core
contributors,
$100
million
to
investors,
$38
million
among
community
members.
$16
million
in
tokens
are
earmarked
for
the
ecosystem
development
foundation.
Token
unlocks
happen
because
the
supply
of
many
cryptocurrencies
are
locked
up
in
vesting
to
prevent
insiders
–
early
investors,
team
members
–
from
dumping
tokens
en
masse.
Prices
historically
decline
around
such
events,
as
the
supply
increase
outpaces
investor
demand
for
the
asset,
according
to
research
by
crypto
analytics
firm
The
Tie.
The
APT
tokens
to
be
released
represent
just
6%
of
the
current
circulating
supply,
but
is
nearly
double
the
daily
trading
volume
on
exchanges,
per
CoinGecko
data.