Aptos Holds Near $4.80 as $54M Token Unlock Looms on August 11

Aptos (APT) remained near $4.80 at the time of writing, with a marginal 0.6% decline over the past 24 hours but a notable 13% increase in the last seven days [1]. The cryptocurrency fluctuated within a $4.19 to $4.85 range during this period, reflecting a strong rebound from early August lows. The asset recorded $473.7 million in trading volume over the past day, an increase of 2% compared to the prior day, while Coinglass data showed open interest in APT futures rose 0.71% to $368.56 million [1]. However, derivatives volume dropped by 3.50% to $345.95 million, indicating a shift toward longer-term positioning rather than rapid trading rotations [1].

Derivatives positioning data suggests a cautious yet steady conviction among traders, with open interest and volume data not showing signs of significant short-term pressure [1]. The market appears to be in a consolidation phase, with investors potentially waiting for directional clarity before committing larger positions.

A key event on the horizon is the scheduled token unlock on August 11, which will release approximately 11.31 million APT tokens—worth around $54 million—representing 2.2% of the current circulating supply of 672.7 million tokens [1]. Token unlock events can introduce volatility, especially if token holders choose to sell their newly unlocked tokens. This could create downward pressure, depending on the market's ability to absorb the additional supply without breaking key support levels [1].

Despite this potential headwind, Aptos has been expanding its footprint in decentralized finance and real-world asset tokenization, which may provide a buffer against short-term price swings. In July, the network launched the Decibel Trading Protocol on its Devnet, aiming to enhance on-chain trading efficiency [1]. Additionally, its real-world asset segment reported over $720 million in total value locked, with major institutional players like BlackRock and Franklin Templeton entering the space [1].

From a technical perspective, APT remains in a short-term bullish phase, characterized by higher lows since August 5. The relative strength index (RSI) currently sits at 54.56, suggesting neutral momentum with potential for movement in either direction [1]. The 10, 20, 30, and 50-day moving averages are in a buy territory, reinforcing the upward bias. However, the 100- and 200-day averages remain in sell territory, indicating that the longer-term trend remains under pressure [1].

Momentum indicators such as the MACD and 10-day momentum show light buying pressure, while the Stochastic RSI is in overbought territory, signaling the potential for near-term pullbacks [1]. If buyers continue to control the market, APT could retest $4.85 and move toward $5.00. A sustained break above $5.00 could shift the 100-day average into a more neutral or bullish position. On the downside, a failure to hold $4.65 could trigger a move toward $4.50, with $4.35 acting as a deeper support level [1].

The August 11 unlock could serve as a pivotal moment for APT, acting either as a catalyst for further gains or a trigger for a correction, depending on how the market absorbs the newly unlocked supply [1].

Source: [1] Aptos holds near $4.80 amid mixed market signals — Will $54M unlock break momentum? (https://coinmarketcap.com/community/articles/689993bfb9c4443d756d912d/)