Aptos (APT) Plummets 11% Amid Technical Breakdown and Tokenomics Concerns

Aptos (APT) experienced a sharp 11.39% decline in 24 hours, closing at $1.75 on December 5, 2025. The token broke through a critical support level at $1.87, signaling increased selling pressure and underperforming the broader crypto market. Trading volume surged 46% to $139 million, while its market capitalization stood at $1.29 billion.

Technical analysis reveals a potential double-bottom pattern forming near $1.84, hinting at early signs of stabilization and possible institutional buying at lower levels. Key resistance is now seen at the former support of $1.87, with immediate psychological resistance at $1.90. Analysts caution that failure to hold this pattern could expose the token to further downside risks toward $1.80.

The price collapse is part of a longer-term trend, with APT down nearly 90% from its all-time highs near $20. The primary driver is attributed not to technology but to aggressive tokenomics. With a total supply of 1.18 billion APT and a circulating supply exceeding 733 million, monthly unlocks of 11.3 million tokens create continuous sell pressure. Furthermore, nearly 80% of the supply is staked, which, while offering a ~7% yield, contributes to locked liquidity and a shortage of new buyers during unlock events.

Despite the severe price action and evaporated retail faith, major early investors have not abandoned the project. They are reportedly focused on long-term value drivers, including genuine traction in real-world asset (RWA) infrastructure with partners like Paxos and BlackRock-linked initiatives, as well as improving protocol revenue and user engagement beneath the surface.

The ecosystem faces an identity crisis in a competitive Layer-1 market, lacking a breakout consumer application to define it, while competitors like Solana, Sui, and Ethereum L2s have captured specific niches. For recovery, analysts suggest Aptos must execute on tokenomic restructuring, introduce liquid staking, build a viral app, and solidify an identity around institutional-grade RWAs and AI tooling on the Move language.