- Avalanches have increased by more than 100% in the past 30 days.
- The price of Aptos only rose 5% last month, but market indicators were weak.
The past month has generally been a good one for investors, with markets showing strength.
Avalanche (AVAX) and Apartment (APT) Both recorded profits during that period. However, an interesting commonality is that both of these blockchains unlocked a significant number of tokens in November, which generally led to a decline in their prices.
So while we inject more tokens into the supply, let’s take a closer look at how these tokens performed during the bull market.
Avalanche was not affected by the unlock.
According to CryptoDiffer’s latest tweet, Avalanche and Aptos were the top tokens in terms of most unlocked tokens last month.
Meanwhile, AVAX unlocked tokens worth over $243 million, while Aptos unlocked tokens worth over $188 million.
Top 15 Token Unlocks in November$AVAX $APT $WBT $HFT $IMX $UNI $OP $BE $GT #1 inch $FIL $GMT $APE $LDO $NEAR pic.twitter.com/ouxdYbCcpU
— 🇺🇦 CryptoDiffer – StandWithUkraine 🇺🇦 (@CryptoDiffer) December 6, 2023
Typically, token unlocking is accompanied by a decrease in price as supply increases, which leads to a decrease in demand and consequently the price of the asset.
However, this was not the case for any of the aforementioned tokens, which could be due to the bullish market conditions in November.
This puts AVAX up over 100% in the last 30 days. That was the case at the time of writing. transaction Its market capitalization is $27.64, which is over $10 billion.
AMBCrypto looked at: AvexOn-chain metrics can help you better understand how the blockchain has performed while launching new tokens.
Our analysis shows that one-week price volatility decreased after the spike on November 17, 2023. But the rest of the indicators looked good. Avalanche’s Binance funding rate remains in the green, meaning there is demand in the derivatives market.
Source: Santiment
The token’s Chaikin Money Flow (CMF) has recorded a sharp rise, suggesting that the token may continue its upward trend.
but, AvexThe price has reached the upper Bollinger Band limit. Additionally, the Relative Strength Index (RSI) may enter the overbought zone, increasing selling pressure.
Source: TradingView
What happened to Aptos?
Aptos also posted gains last month, although it hasn’t moved as much as AVAX.
According to CoinMarketCap, APT is up nearly 5% over the past 30 days. At the time of this writing, it was trading at $7.53, with a market capitalization of over $2 billion. Positive sentiment towards the token remained high throughout the month.
However, other indicators turned downward. For example, open interest has decreased, meaning derivatives investors are not interested in buying APT.
There has also been a decline in development activity. This means that developers have put less effort into improving the network.
Source: Santiment
how much? 1,10,100 APTs currently worth
Addressing the future, AMBCrypto looked at: appropriateThis is the daily chart. MACD clearly showed the ongoing battle between bulls and bears.
The Relative Strength Index (RSI) has headed south, meaning investors can expect prices to fall. However, Chaikin Money Flow (CMF) rose and remained strong.
Source: TradingView