CandleFocus Aptos (APT) Market Cap Tanks by $2 Billion Ahead of $134 Million Token Unlock
2024-12-11
Author: Content Editor
The market cap of Aptos (APT) has dropped from $8.25 billion to $6.36 billion in just five days. This decline is likely due to the upcoming token unlock event, which could lead to significant volatility for APT. The decline in market cap could also be attributed to the overall decline in the cryptocurrency market. Aptos will release 2.11% of its total supply, valued at $134.47 million, today. This event could cause high volatility and potentially lead to a drawdown in Aptos' price. The altcoin has dropped below a bullish ascending triangle pattern, and the Cumulative Volume Delta (CVD) has turned negative, indicating more selling pressure. The short-term price target for Aptos is $9.65, but it could climb to $15.33 if demand increases.
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