Aptos Falls 7% as Token Release Dampens Investor Confidence

APT dropped 7% over the past 24 hours to $1.6852 as investors repositioned ahead of a scheduled token unlock. The broader crypto market also softened, with the CoinDesk 20 index down 4.2% at the time of publication, according to CoinDesk Research’s technical analysis.

Trading volume surged 38% above the 30-day average, signaling strong institutional activity. APT retreated from an early high of $1.90, where 6.81 million tokens changed hands — nearly triple normal levels. Selling pressure intensified ahead of the planned release of 11.3 million tokens, representing roughly 1.5% of total supply allocated to early investors and core contributors.

Technical weakness dominated after the $1.90 peak, with the token forming a series of lower highs and lower lows. Support has emerged near $1.69 following multiple tests, though volume patterns suggest continued distribution by larger holders.

Technical Overview:

Support: $1.69–$1.70, successfully defended on three occasions
Resistance: $1.91, marked by heavy trading volume
Volume: 38% above 30-day average, confirming institutional participation
Peak volume: 6.81M tokens at $1.90, validating distribution
Price pattern: Descending from $1.90 peak, with lower highs signaling near-term bearish bias
Upside potential: A sustained move above $1.71 needed to test $1.90 resistance
Downside risk: Falling below $1.69 could trigger further declines toward previous consolidation zones