Flow

Token

Aptos

Avalanche

MN Coin

<img width="1200" height="900" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164203/ambcrypto_An_Avalanche_and_Aptos.png" class="attachment-full size-full wp-post-image" alt="Why Avalanche and Aptos’ token unlocks didn’t affect their prices&nbsp;" loading="lazy" style="float:left; margin:0 15px 15px 0;" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164203/ambcrypto_An_Avalanche_and_Aptos.png 1200w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164203/ambcrypto_An_Avalanche_and_Aptos-300x225.png 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164203/ambcrypto_An_Avalanche_and_Aptos-1024x768.png 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164203/ambcrypto_An_Avalanche_and_Aptos-768x576.png 768w" sizes="(max-width: 1200px) 100vw, 1200px">
<ul>
 <li style="font-weight: 400;">Avalanche surged by more than 100% in the last 30 days.&nbsp;</li>
 <li style="font-weight: 400;">Aptos’ price only moved by 5% last month, but its market indicators were bearish.&nbsp;</li>
</ul>
The last month was by and large a good time for investors as the market turned bullish.
<a href="https://eng.ambcrypto.com/search/avalanche" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Avalanche [AVAX]</a> and <a href="https://eng.ambcrypto.com/search/aptos" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Aptos [APT]</a> both registered gains during that period. But an interesting commonality was that both of these blockchains unlocked a substantial number of tokens in November, which generally causes a price drop. 
Therefore, let’s dive deep to find out how these tokens performed in the bull market while they injected more tokens into their supply.
<h4>Avalanche was unaffected by the unlock</h4>
As per CryptoDiffer’s latest tweet, Avalanche and Aptos were the top tokens last month in terms of the most tokens unlocked. 
On the one hand, AVAX unlocked tokens worth more than $243 million, while on the other hand, Aptos unlocked tokens worth over $188 million.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Top-15 Biggest Token Unlocks conducted in November<a href="https://twitter.com/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$AVAX</a> <a href="https://twitter.com/search?q=%24APT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$APT</a> <a href="https://twitter.com/search?q=%24WBT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$WBT</a> <a href="https://twitter.com/search?q=%24HFT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$HFT</a> <a href="https://twitter.com/search?q=%24IMX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$IMX</a> <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$UNI</a> <a href="https://twitter.com/search?q=%24OP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$OP</a> <a href="https://twitter.com/search?q=%24SEI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$SEI</a> <a href="https://twitter.com/search?q=%24GT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$GT</a> <a href="https://twitter.com/hashtag/1INCH?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#1INCH</a> <a href="https://twitter.com/search?q=%24FIL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$FIL</a> <a href="https://twitter.com/search?q=%24GMT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$GMT</a> <a href="https://twitter.com/search?q=%24APE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$APE</a> <a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$LDO</a> <a href="https://twitter.com/search?q=%24NEAR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$NEAR</a> <a href="https://t.co/ouxdYbCcpU" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ouxdYbCcpU</a>
 — <img src="https://s.w.org/images/core/emoji/13.1.0/72x72/1f1fa-1f1e6.png" alt="🇺🇦" class="wp-smiley" style="height: 1em; max-height: 1em;"> CryptoDiffer – StandWithUkraine <img src="https://s.w.org/images/core/emoji/13.1.0/72x72/1f1fa-1f1e6.png" alt="🇺🇦" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoDiffer) <a href="https://twitter.com/CryptoDiffer/status/1732384386773819634?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 6, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Typically, token unlocks are accompanied by price drops as they increase supply, which causes a decline in demand, in turn pushing an asset’s price down. 
However, that was not the case with either of the aforementioned tokens, which can be attributed to the bullish market condition in November. 
To put it into perspective, AVAX was up by more than 100% in the last 30 days. At the time of writing, it was <a href="https://coinmarketcap.com/currencies/avalanche/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">trading</a> at $27.64 with a market capitalization of over $10 billion. 
AMBCrypto then had a look at <a href="https://eng.ambcrypto.com/avalanche-exhibits-high-network-activity-can-it-boost-avax/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">AVAX</a>’s on-chain metrics to better understand how it performed while the blockchain released new tokens. 
As per our analysis, 1-week price volatility dropped after spiking on 17th November 2023. But the rest of the metrics looked good. Avalanche’s Binance funding rate remained green, meaning that it was in demand in the derivatives market.
<div id="attachment_81341" style="width: 100%" class="wp-caption aligncenter"><a href="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163702/Avalanche-AVAX-15.38.16-07-Dec-2023.png" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-81341" loading="lazy" class="wp-image-81341 size-full" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163702/Avalanche-AVAX-15.38.16-07-Dec-2023.png" alt="" width="3840" height="1300" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163702/Avalanche-AVAX-15.38.16-07-Dec-2023.png 2560w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163702/Avalanche-AVAX-15.38.16-07-Dec-2023-300x102.png 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163702/Avalanche-AVAX-15.38.16-07-Dec-2023-1024x347.png 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163702/Avalanche-AVAX-15.38.16-07-Dec-2023-768x260.png 768w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163702/Avalanche-AVAX-15.38.16-07-Dec-2023-1536x520.png 1536w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163702/Avalanche-AVAX-15.38.16-07-Dec-2023-2048x693.png 2048w" sizes="(max-width: 3840px) 100vw, 3840px"></a>
 Source: Santiment
</div>
The token’s Chaikin Money Flow (CMF) registered a sharp uptick, which suggested that the token might continue its bull rally further. 
However, <a href="https://eng.ambcrypto.com/avalanche-flips-20-to-support-and-bulls-have-their-next-target-in-sight/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">AVAX</a>’s price touched the upper limit of the Bollinger Bands. Additionally, its Relative Strength Index (RSI) also entered the overbought zone, which can increase selling pressure.&nbsp;
<div id="attachment_81342" style="width: 100%" class="wp-caption aligncenter"><a href="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163807/AVAXUSD_2023-12-07_15-40-32.png" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-81342" loading="lazy" class="wp-image-81342 size-full" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163807/AVAXUSD_2023-12-07_15-40-32.png" alt="" width="1815" height="792" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163807/AVAXUSD_2023-12-07_15-40-32.png 1815w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163807/AVAXUSD_2023-12-07_15-40-32-300x131.png 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163807/AVAXUSD_2023-12-07_15-40-32-1024x447.png 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163807/AVAXUSD_2023-12-07_15-40-32-768x335.png 768w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163807/AVAXUSD_2023-12-07_15-40-32-1536x670.png 1536w" sizes="(max-width: 1815px) 100vw, 1815px"></a>
 Source: TradingView
</div>
<h4>How did Aptos fare</h4>
Though Aptos did not move much to the degree that AVAX did, the former also registered gains last month. 
According to <a href="https://coinmarketcap.com/currencies/aptos/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinMarketCap</a>, APT was up by nearly 5% in the last 30 days. At the time of writing, it was trading at $7.53 with a market cap of over $2 billion. Throughout the month, positive sentiment around the token remained high. 
However, other metrics turned bearish. For example, its open interest declined, meaning that derivatives investors were not interested in buying APT.
 In addition, its development activity also dropped. This suggested that less effort was made by developers to improve the network.
<div id="attachment_81343" style="width: 100%" class="wp-caption aligncenter"><a href="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163924/Aptos-APT-16.25.27-07-Dec-2.png" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-81343" loading="lazy" class="wp-image-81343 size-full" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163924/Aptos-APT-16.25.27-07-Dec-2.png" alt="" width="3840" height="1300" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163924/Aptos-APT-16.25.27-07-Dec-2.png 2560w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163924/Aptos-APT-16.25.27-07-Dec-2-300x102.png 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163924/Aptos-APT-16.25.27-07-Dec-2-1024x347.png 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163924/Aptos-APT-16.25.27-07-Dec-2-768x260.png 768w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163924/Aptos-APT-16.25.27-07-Dec-2-1536x520.png 1536w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07163924/Aptos-APT-16.25.27-07-Dec-2-2048x693.png 2048w" sizes="(max-width: 3840px) 100vw, 3840px"></a>
 Source: Santiment
</div>
How much are <a href="https://ambcrypto.com/convert/1-apt-to-usd" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">1,10,100 APTs worth today</a>&nbsp;&nbsp;&nbsp;
Mentioning the future, AMBCrypto then took a look at <a href="https://eng.ambcrypto.com/what-to-expect-as-aptos-network-activity-falls-off-a-cliff/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">APT</a>’s daily chart. The MACD clearly displayed an on-going battle between the bulls and the bears. 
Its Relative Strength Index (RSI) took a southward path, meaning that investors could expect a price drop. But its Chaikin Money Flow (CMF) was bullish as it moved upward.
<div id="attachment_81345" style="width: 100%" class="wp-caption aligncenter"><a href="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164012/APTUSDT_2023-12-07_16-27-59.png" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-81345" loading="lazy" class="wp-image-81345 size-full" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164012/APTUSDT_2023-12-07_16-27-59.png" alt="" width="1815" height="791" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164012/APTUSDT_2023-12-07_16-27-59.png 1815w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164012/APTUSDT_2023-12-07_16-27-59-300x131.png 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164012/APTUSDT_2023-12-07_16-27-59-1024x446.png 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164012/APTUSDT_2023-12-07_16-27-59-768x335.png 768w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/07164012/APTUSDT_2023-12-07_16-27-59-1536x669.png 1536w" sizes="(max-width: 1815px) 100vw, 1815px"></a>
 Source: TradingView
</div>
&nbsp;
The post <a rel="noopener noreferrer nofollow" href="https://eng.ambcrypto.com/a-look-at-how-avalanche-aptos-performed-during-their-token-unlocks/" data-wpel-link="internal" target="_self">A look at how Avalanche, Aptos performed during their token unlocks&nbsp;</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://eng.ambcrypto.com" data-wpel-link="internal" target="_self">AMBCrypto</a>.

A look at how Avalanche, Aptos performed during their token unlocks

AMBCrypto

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