Share this article
Crypto Traders Grow Bearish as Aptos Plans $103M APT Token Unlock in November
The collective 20 million APT to be unlocked then equates to 112% of the average daily trading volume over the prior 30 days, according to The Tie.
Updated Sep 15, 2023, 3:45 p.m. Published Sep 14, 2023, 6:44 a.m.
Aptos, a Layer 1 protocol founded by ex-Facebook employees, will release 20 million tokens in November, according to data source TokenUnlocks. Data from derivatives market tied to APT show traders have grown bearish on the cryptocurrency.
The impending APT unlock is worth $103 million at the token's current market price of $5.15 and equals more than 8.5% of Aptos' circulating supply of 235.02 million.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Tokens are often locked to keep the big bag holders – early investors and project team members – from liquidating their holdings all at once, for such an act would crater the market value.
According to research firm The Tie, APT's November unlock will free up significant liquidity.
"The significant token unlocks for investors and main contributors are scheduled for Nov. 11. The collective 20 million APT (equivalent to $106 million) to be unlocked then equates to 112% of the average daily trading volume over the prior 30 days," The Tie's weekly newsletter dated Sept. 13 said.
"These unlocks will take place on a monthly basis and will coincide with monthly staking reward unlocks (5.83 million APT or 32% of the daily average volume, set to increase to 6.15 million APT in December). Additionally, since last year, 4.62 million APT have been unlocked monthly for community and foundation purposes," The Tie added.
The research firm said early this year that unlocks that free up liquidity, or those that represent over 100% of the average daily volume, tend to weigh over prices.
APT funding rates slide
The latest positioning data from the perpetual futures market tied to APT suggests crypto traders have grown bearish on the cryptocurrency.
Open-interest-weighted funding rates are now at their most negative since February. A negative rate implies that shorts are paying longs to keep their bearish bets open.
Open interest in token terms, representing the number of active contracts, rose to 5.33 million APT on Wednesday, reaching the highest since Aug. 17. An uptick in open interest alongside negative funding rates indicates that leverage is skewed to the bearish side.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Trump’s Security Strategy: Impact on Bitcoin, Gold, Bond Yields
The White House's new National Security Strategy emphasizes increased global fiscal expansion and military spending.
What to know:
- The White House's new National Security Strategy emphasizes increased global fiscal expansion and military spending.
- NATO allies are urged to raise defense spending to 5% of GDP, significantly higher than the previous 2% mandate.
- Heightened government borrowing could lead to higher bond yields and inflation, complicating interest rate cuts.
Top Stories
