- Aptos released 25 million coins on December 12.
- The price of APT increased by almost 20% after the unlock event.
In a significant intraday surge, Aptos’ price rose [APT] coins rose by almost 20% following the project’s successful unlocking of 25 million coins on December 12.
The unlock, worth more than $200 million, sparked a flurry of buying that took APT to its highest level since June. AMBCrypto found that the coin rose above the $9 price and peaked at $9.13.
According to Unlock Token, During the unlock event, 1.33 million APT were released to the Aptos Foundation, 12 million APT to the project’s developers, 8.42 million APT to investors and 3.21 million APT coins to community members.
Although the coin lost some of its gains after the initial rally, the coin still posted a 9% price increase over the past 24 hours, data from CoinMarketCap revealed.
The bullish sentiment remains
The past week was marked by a general decline in the crypto market, with the values of the leading coins Bitcoin [BTC] and ether [ETH] fell by 6% and 4% respectively.
According to data from Coin geckothe global cryptocurrency market capitalization has fallen by 2% over the past seven days.
Despite the bearish activity in the overall market, APT accumulation continues unhindered. Readings on the coin’s daily chart showed that the major momentum indicators were trending upward.
For example, the Money Flow Index (MFI) was close to the overbought zone at 72.32. Similarly, the coin’s Relative Strength Index (RSI) was 58.64.
The values of these indicators showed that APT accumulation exceeded sales among daily traders.
The coin’s Chaikin Money Flow (CMF), at its highest level since November 11, confirmed the steady inflow of liquidity into the APT market. At the time of writing, the coin’s CMF was 0.24.
At this CMF value, there was strong buying pressure in the market as more money flowed into the currency than out.
Source: APT/USDT on TradingView
In the futures market, APT open interest rose to last month’s levels last month, data from Mint glass.
How much are 1,10,100 APTs worth today?
AMBCrypto found that most of the increase occurred within the last 24 hours, as investors rushed to open more trading positions following the unlock event.
APT’s open interest at the time of writing was $125 million, which is up 42% since the coins were unlocked.