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Aptos unlocks nearly 25 mn APT tokens
Layer 1 blockchain Aptos, founded by ex-Meta executives, has released 24.8 million APT tokens, worth approximately $201.7 million.
The majority of the unlock went to core contributors, with $96.4 million going to core contributors, $68.4 million to investors, $26.1 million to the community, and $10.8 million to the Aptos Foundation.
The price of APT fell 13.4% after its Nov. 12 unlock, but has since recovered. Aptos is a relatively new Layer 1 blockchain based on the Move programming language developed at Meta, aiming to offer a faster and more scalable alternative to other networks.
However, Aptos experienced a five-hour outage in October, prompting some crypto exchanges to temporarily suspend deposits and withdrawals of APT.
(With inputs from Shikha Singh)
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