The cryptocurrency Aptos (APT) faces potential selling pressure from a $12.73 million token unlock scheduled for February 10. The release represents 1.48% of the token’s circulating supply, historically a trigger for short-term price declines. Meanwhile, APT’s price has dropped 67% from its November high, testing critical support near $1.00, though some on-chain metrics show signs of resilience.
The cryptocurrency Aptos [APT] remains under sustained selling pressure, with its price consistently trending lower. In the last 30 days alone, APT recorded a 39% drawdown, and losses have amounted to 67% from its November high of $3.37.
Aptos is scheduled for a token unlock on 10 February, introducing approximately $12.73 million worth of APT into circulation. According to DeFiLlama, the unlock represents 1.13% of the total supply and 1.48% of the circulating supply.
The distribution will be allocated across core contributors, the community, and investors. With community members and investors accounting for over 50% of the unlocked supply, or roughly $6.58 million, downside risk might be elevated.
On the weekly chart, APT was trading at a pivotal technical level and appeared to be hovering near the $1.00 support. Failure to hold this support could result in a new all-time low for the asset.
The Relative Strength Index (RSI) moved into oversold territory, a condition often linked to seller exhaustion. This does not guarantee an immediate rebound, and further downside remains possible.
Despite price weakness, liquidity conditions did exhibit some resilience. On-chain data indicated that the Total Value Locked (TVL), a measure of capital committed to the Aptos ecosystem, has continued to rise.
Since 06 February, the TVL has risen by $14.04 million, according to DeFiLlama data. Weekly spot exchange data revealed consistent outflows from exchanges beginning in early January, with $2.03 million worth of APT withdrawn this week alone.
However, short-term pressure persists with daily netflow data showing approximately $536,000 in net inflows to exchanges. This is illustrative of ongoing selling activity in the market.
