Aptos (APT) Eyes 35% Gains as $100 Million Token Unlock Nears

Aptos (APT) is set to unlock 11.31 million tokens worth $100 million on October 11, raising the potential for significant price movements. While bulls could push APT up 35%, volatility remains a concern.

Aptos (APT) has gained considerable attention as it approaches a major token unlock event, scheduled for October 11. Over the past week, APT’s price surged by 20%, nearing the $10 mark, but investors are eyeing even higher gains ahead of the upcoming $100 million token release.

According to data from Token Unlocks, 11.31 million tokens—representing 2.25% of Aptos’ maximum supply—will be released into circulation. While token unlock events often introduce price volatility, Aptos bulls seem unfazed, as technical indicators suggest the potential for further upward movement.

Understanding Token Unlocks and Market Impact

Token unlocks are an integral part of cryptocurrency projects’ vesting schedules. This process ensures that locked tokens are gradually released into the market, helping to manage supply and prevent sudden price dumps. However, when large amounts of tokens are released, prices can experience significant fluctuations, and in some cases, notable declines.

Despite these concerns, Aptos appears to be in a strong position leading up to the event. Analysis of the Bull Bear Power (BBP) indicator reveals that bulls currently have the upper hand in the market. The BBP measures the ability of buyers (bulls) to drive prices upward compared to sellers (bears) dragging them lower. With BBP consistently rising, the altcoin’s price could move higher than $9.10.

APT Price Prediction: Potential 35% Gains Ahead

APT has encountered resistance at $9.40, preventing it from breaching the $10 mark thus far. However, with support at $8.53 and strong buying momentum, Aptos has the potential to break through resistance and climb toward $12.70—an estimated 35% gain. In extremely bullish conditions, the token might even rally to $16.53, though this outcome seems unlikely before the unlock event.

Risks of Profit-Taking and Volatility

While the outlook for Aptos is optimistic, there are risks. If holders choose to take large profits following the unlock event, a supply shock could trigger a downward trend, pushing APT’s price down to $7.58.

As the market braces for October 11, traders are watching closely to see how the token unlock impacts price action. Whether APT soars to new highs or faces a temporary setback, the next few days will be crucial for Aptos investors.

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