Self ($SUI) i Aptos ($APT) are two first-tier blockchain platforms that have created a lot of hype during their launch in the cryptocurrency market recently. According to data analytical portal Token Unlocks both cryptocurrencies have a relatively low supply of tokens in circulation and are preparing to release a large number of frozen assets in July from e.g. from investment rounds or transferred for statutory purposes. This may potentially result in dilution of their value. So let’s take a look at what exactly will happen in the coming month.
SUI and Aptos will drop into the cryptocurrency market in July
Apts ($APT):
Unlocking Tokens: Project Aptos has plans to unlock over 4.5 million $APT tokens in July, which means another increase in the total supply of tokens. The total amount of assets in circulation will be 33 million. This can dilute the value of a single $APT coin with existing hodlers.
Price trend: Aptos has experienced a significant decline in value since its launch, which is partly due to the systematic unfreezing of subsequent batches of tokens. Without another growth impulse, the cryptocurrency may continue to bleed out. However, it is worth noting that we are at potential support levels.
Source: CMC
Total Stacked Tokens (TVL): Aptos currently has a pretty decent TVL of around $43.6M for a fresh project, which is the amount of capital locked into the platform. A higher TVL suggests greater trust among investors who are more willing to invest their capital in a given ecosystem.
Trading volume: The daily trading volume of Aptos is approximately $716,000. Higher trading volume means increased liquidity and market activity. Unfortunately, the volume trend looks poor.
Sui ($SUI):
Unlocking Tokens: Project Sui is preparing to release over 61 million $SUI tokens in July, a significant increase in the total token supply. These tokens will be donated to the Sui Foundation and the ecosystem community. Dilution of the value of a single $SUI coin is to be expected.
Price trend: $SUI shows a dominant downward trend, which is contributed to by the negative sentiment in the altcoin sector and the systematic release (or expected release) of new tokens. It is worth noting that Sui has been criticized for not having a community airdrop and handing over a huge amount of assets to institutional investors. Shy swallows suggest breaking the bottom at around 0.60, which may temporarily slow down declines.
Source: ibid
Total Stacked Tokens (TVL): Sui currently has a relatively low TVL of around $12.26 million. While a low TVL may suggest a lower capital commitment on the platform, it does not necessarily determine the profitability of the token.
Trading volume: Sui boasts a higher trading volume than Aptos at over $5 million. It is still small compared to the volumes of the recent past.
See also: Cardano breaks a very important record and overcomes another milestone. Is the ADA undervalued?
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2023-06-28 18:55:02
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