$30.25 Million in Tokens Unlocking in Aptos And Cyber This Week

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$30.25 Million in Tokens Unlocking in Aptos And Cyber This Week

Aptos (APT)

On October 12, 2023, APT will hold an unlock event, releasing 4.54 million APT tokens valued at $24.03 million. This event represents 1.9% of the current APT supply. Foundation and Community will get share of these unlocked tokens. Out of the 4.54 million APT tokens, 1.33 million, worth $7.05 million, will go to the foundation. The remaining 3.21 million tokens, valued at $16.98 million, will be distributed to the community.

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CyberConnect (CYBER)

On October 15, 2023, Cyber will undergo an unlock event that will increase its supply by 1.261 million tokens, worth $6.22 million. This increase represents 11.43% of the current circulating supply of Cyber. Private Sale Investors will receive 375,000 tokens valued at $1.85 million out of the 1.261 million tokens. A total of 722,920 tokens worth $3.56 million is reserved for Ecosystem Development. The Community Treasury will receive the remaining 163,200 tokens valued at $804,580.

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Aptos Technical Analysis

APT is trading in a parallel downward channel and forming a bearish structure of lower highs and lower lows within that channel. Currently, APT is encountering resistance from the upper trendline of the downward channel. Overcoming this resistance is crucial for APT if it intends to initiate an upside rally.

The range between $5.2 and $5.8 represents a significant resistance zone for APT due to multiple factors. It faces resistance from the downward parallel channel, two horizontal lines, and the 50-day EMA. Overcoming this zone is essential for a potential upward movement.

Currently, APT has support at $4.95, a level that has twice prevented APT’s price from declining further. This level must be maintained; otherwise, a sell-off could occur.

RSI is forming a bullish structure of higher highs and higher lows, in contrast to APT’s bearish structure. This indicates the possibility of a hidden bullish divergence playing out in the future.

Conclusion

The provided information highlights the current status and upcoming events for two distinct cryptocurrencies: APT and CYBER. These details encompass their trading performance, market capitalization, supply data, recent price movements, and impending unlock events.

In conclusion, because of inflation these events can often trigger price volatility and affect the asset’s overall value. Making knowledge-based decisions in the ever-evolving cryptocurrency market is essential to navigate its complexities successfully.

References from TokensUnlock

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