Aptos (APT) Tokens Surge on Partnership with Microsoft
Aptos (APT) tokens experienced a 15% surge in value following the announcement of a partnership with Microsoft (MSFT). However, this increase in price comes just ahead of a scheduled supply unlock that could potentially add selling pressure to the market.
Key Points:
- Approximately 2% of the APT supply, valued at $33 million, is set to be unlocked on August 12th.
- This planned supply unlock will reduce the amount of locked tokens to 80% of the total supply.
- Unlocks typically increase the circulating supply of a token, potentially causing prices to decrease rapidly if holders decide to sell and demand doesn’t keep up.
- Aptos has faced criticism for its token distribution, with core contributors, investors, and the Aptos Foundation receiving almost half of the total token issuance.
- In comparison, Ethereum allocated a much smaller percentage of its token supply to the founding team and Ethereum Foundation during its initial issuance.
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Aptos Expands Tools and Services with Microsoft’s AI Technology
Aptos Labs, a blockchain company founded by former Meta Inc. employees, announced plans to enhance its offerings by utilizing Microsoft’s artificial intelligence technology. This includes the development of a chatbot called Aptos Assistant and AI tools for smart contract programming.
As of now, APT tokens are up more than 9% and priced at $7.31.
Hot Take:
The partnership between Aptos and Microsoft has generated positive market response, leading to a surge in APT token value. However, the impending supply unlock raises concerns about potential selling pressure. Aptos should address criticisms regarding token distribution to improve community sentiment and ensure long-term success.
