Aptos price jumps 10% amid token burns and supply crunch after fee hike

Aptos (APT) surged over 10% in 24 hours, driven by a supply crunch following a 10x fee increase that funds token buybacks and burns. Over 1.5 million APT tokens were burned in the past month, reducing circulating supply and boosting network activity. Despite breaking out of a descending trend channel, APT faces selling pressure ahead due to a large upcoming token unlock of 11.31 million APT, which could increase supply and weigh on price.