Aptos Price Drops 7% Amid Token Unlock and Trading Volume Surge
Aptos (APT) experienced a 7% decline in price, falling to $1.69 after reaching an intraday high near $1.90. This price movement accompanied a 38% increase in trading volume above the 30-day average, as institutional investors repositioned their portfolios ahead of a scheduled token unlock. The unlock will release 11.3 million APT tokens, representing approximately 1.5% of the total supply, to core contributors and early investors.
Technical analysis shows a pattern of lower highs and lower lows, with primary support identified between $1.69 and $1.70, and major resistance at $1.91. A move above $1.71 is necessary to challenge the $1.90 resistance level. The peak trading volume of 6.81 million tokens occurred near this resistance, indicating possible distribution by larger holders.
The broader market has also demonstrated weakness, with the CoinDesk 20 index declining about 4.2% at the time of publication. Selling pressure on APT appears linked to anticipatory actions related to the token unlock, as market participants adjust their holdings in response.
