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Aptos Slumps 7% as Token Unlock Weighs on Sentiment
Source: CryptoNewsNet Original Title: Aptos Slumps 7% as Token Unlock Weighs on Sentiment Original Link: APT declined 7% over the last 24 hours as investors repositioned ahead of a scheduled token unlock.
Wider crypto markets also fell, with the broader market index lower by 4.2% at the same period. Volume surged 38% above the 30-day average as APT retreated from an early peak of $1.90, where exceptional trading reached 6.81 million tokens, nearly triple normal levels.
The selling pressure intensified as market participants positioned for the scheduled unlock of 11.3 million APT tokens, representing 1.5% of total supply flowing to core contributors and early investors.
Technical weakness dominated price action following the $1.90 rejection, with APT establishing a series of lower highs and lower lows.