Altcoins have been making waves in the cryptocurrency industry in recent months, with many traders and investors keen to capitalize on the lucrative prospects that these coins provide. Aptos has been one of the most talked-about cryptocurrencies in recent months.
The coin has been the topic of much curiosity and debate. A deeper look into APT may shed some light on why it has been dubbed the “most despised pump in crypto.”
Aptos has been influenced by Asian traders, according to crypto industry expert Ran Neuner. He emphasizes that the huge trade volumes in Upbit might be a warning indication. This occurs as the Aptos Foundation prepares to organize its first global hackathon in Seoul on February 1.
According to Coingecko data, the APT/KRW trading pair in Upbit accounts for more than 73% of the total token trading volume. While APT trading volume on this crypto platform has topped $600 million in the last 24 hours, trading volume for the APT/USDT pair on other exchanges such as Binance has hovered around $300 million.
Despite its potentially questionable trading activities, several traders and experts think Aptos can provide long-term value to investors. APT looks to have legs toward greater heights from a technical standpoint, according to Neuner. Neuner says that the small number of tokens in circulation, strong trading volume, and daily token unlocks could be the perfect mix for high volatility.
Still, figuring out the price of Aptos is hard because the currency doesn’t have a solid base and there aren’t many of them in circulation. Traders should be careful when investing in APT because its price may go up and down a lot before it reaches its fair value.
Another intriguing component of Aptos is its development team’s conduct. According to sources, the Aptos team’s dev wallet has been “feeding the Korean ducks” by sending $20 million in spots to Binance practically every time there is a pump.
This has happened in the past on weekends when the price was rising.
While Aptos has the potential to provide investors with profitable possibilities, it is critical to exercise caution when investing in this currency. It is a risky investment because its prices are manipulated and change all the time. Traders should also be wary of what the development team is doing.
Traders should, as usual, only invest what they can afford to lose and should not rely primarily on their investments to sustain themselves financially.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.