- Aptos launched 25 million coins on December 12th.
- APT prices rose by almost 20% following the unlock event.
The price of Aptos (APT) coins surged nearly 20% in an intraday surge after the project successfully unlocked 25 million coins on December 12.
The unlock, worth more than $200 million, sparked a wave of buying that pushed APT to its highest since June. AMBCrypto discovered that the coin rose above the $9 price, hitting a high of $9.13.
According to token unlock, The unlock event released 1.33 million APT coins to the Aptos Foundation, 12 million APT coins to project developers, 8.42 million APT coins to investors, and 3.21 million APT coins to community members.
The coin has made some gains since the initial rally, but the coin still recorded a 9% price increase in the last 24 hours. CoinMarketCap exposed.
Bullish sentiment continues
Last week, the cryptocurrency market saw an overall decline. The value of major coins Bitcoin (BTC) and Ethereum (ETH) fell 6% and 4% respectively.
According to data from CoinGecko, global cryptocurrency market capitalization has decreased by 2% over the past seven days.
Despite bearish activity in the general market, APT accumulation continues unhindered. Looking at the coin’s daily chart, the key momentum indicators are showing an upward trend.
For example, the Money Flow Index (MFI) is at 72.32, close to overbought territory. Likewise, the relative strength index (RSI) of the coin was 58.64.
The values of these indicators show that APT accumulation exceeds selling among day traders.
The coin’s Chaikin Money Flow (CMF) hit its highest level since November 11, confirming steady liquidity inflow into the APT market. As of this writing, the coin’s CMF was 0.24.
At this CMF value, there was strong buying pressure in the market as more funds flowed into the coin.
Source: APT/USDT on TradingView
Reuters reported that APT’s open interest in the futures market increased to last month’s level. coin glass.
How much is 1,10,100 APT worth now?
AMBCrypto found that most of the surge occurred within the last 24 hours as investors rushed to open more trading positions following the unlock event.
APT’s open interest stands at $125 million at the time of writing, an increase of 42% since the coin unlock event.