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$APT is a good reminder that token unlocks can matter just as much as a project's fundamentals. It recently had roughly 11.3M tokens, worth around $7M at the time, enter circulation. The immediate reaction was selling pressure, with it falling around 3.3%. But I don't think the interesting question is simply: “Is the unlock bearish?” The better question is: “Can market demand absorb the additional supply?” Token unlocks don't automatically mean a token should fall