The last 30 days has worked out spectacularly well for most of the cryptocurrencies and Aptos tops the list. In the last one month, Aptos has spiked nearly 460%. However, after a bullish week, Aptos faced a slight correction at $17.52.
At the time of writing, Aptos is changing hands at $17.06 after a pull back of 5.11% over the last 24hrs. However, in the last three weeks, Aptos has surged nearly 500% after hitting a new all-time high of $18.36.
Aptos To Form A Downward Movement ?
Meanwhile, a veteran crypto trader who is anonymously known as LightCrypto throws light on Aptos mass-selling by the team. As per the trader Aptos dev team wallet which is in connection with Aptos (APT) blockchain is transfering huge APT tokens to Binance exchange. LightCrypto then states that Binance has so far received $20 million APT while $1 billion is still in the wallet.
Aptos dev team wallet has started feeding the Korean ducks, ~$20mm in spot sent to Binance in the last hour.
$1b in inventory remains in the wallet.
The tightly controlled supply has activated. pic.twitter.com/Ll75mTX0TQ
— light (@lightcrypto) January 28, 2023
Further the analyst expects that these Aptos (APT) tokens have been taken over by South Korea’s crypto exchange, Upbit.
Also a blockchain advisor and CIO at Selini Capital warns investors to not to open any short positions on APT/USDT pair as of now.
APT another display of how Paleolithic the industry still is.
Preppy VCs thought they were investing in promising L1 tech. Lolz.
Pure PvP gambling that only ends with unlocks extracting all the Won from the Korean Squid Gamers
p.s. short is overcrowded, dont play unless Pro. https://t.co/xaychpJgVw pic.twitter.com/JY1gjXDWiy
— Jordi Alexander (@gametheorizing) January 28, 2023
Meanwhile, Aptos’ further price action mostly depends on the first cryptocurrency, Bitcoin’s upward movement which is currently flirting around $23,000 level.
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Elena R
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
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The recent stock market sell-off has taken its toll on the share prices of Aptos, Inc. (NASDAQ: APT). Since the beginning of April, the company’s share price has dropped by nearly 50%. The sell-off, which has been driven by a sharp decline in the demand for semiconductors, has had a drastic impact on Aptos’ short-term outlook.
The semiconductor market, which represents a crucial component of Aptos’ business, has seen a steep decline in demand due to the pandemic. Demand for Aptos’ products has gone down as customers scale back purchases in anticipation of a major downturn in the economy. This drop in demand has put immense pressure on Aptos’ stock price, leading to the recent sell-off.
In the near-term, it is unclear what direction Aptos’ stock price will take. The company’s share price could remain depressed for the foreseeable future. However, the long-term outlook for APT is more positive. The company’s recent investments in new product lines, as well as its ongoing efforts to develop partnerships with other industry leaders, may help to stabilize its share price.
The future of Aptos’ stock price depends largely on how the company navigates the current market downturn. Aptos needs to focus on maintaining its competitive edge, as well as capitalizing on the opportunities provided by the rapidly changing digital landscape. If the company is able to do both, its share price could rebound in the long run.
Investors should keep a close eye on Aptos and its share price in the coming months. Though the company faces an uncertain future due to the current market conditions, its long-term prospects remain positive. If Aptos is successful in its efforts to weather the storm, APT could be an attractive investment option in the future.
