Aptos (APT) Drops 5.9% as NFT Controversy Escalates

The fuss around Aptos NFTs paints a controversial picture for the newcomer dividing Crypto Twitter into two camps.

A girl falling down from the sky with a parachute, as an old guy with glasses and his virtual buddy watches it from the balcony.
  • Aptos (APT) surged by 420% in the last 30 days.
  • Today, whales withdrew over $7M worth of APT.
  • Crypto Twitter suspects Aptos is fully controlled.

The controversial altcoin Aptos (APT) is still in the crypto limelight, even though the self-proclaimed “Solana Killer” dropped by 5.9% in value in the last 24 hours. Ranked #28 by global market cap, Aptos hit its all-time high just 23 hours ago, $19.92, according to CoinGecko. At press time, the newcomer to the crypto game trades at $18.10 with a market cap of $2,906,777,036, achieving a milestone of 75,000,000 mainnet transactions per week.

$7M Aptos (APT) Cashed Out Today

Interestingly, many crypto enthusiasts on Twitter claim that the impressive bull run for APT might be over. Some crypto traders say that $APT topped today, while others add more fuel to the fire with Sam Bankman-Fried memes, which ironically read, “I am really sorry.” Indeed, this might be because SBF and his fallen FTX crypto exchange heavily endorsed Aptos during the October launch last year.

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Furthermore, the on-chain data suggests that there was an unusual transaction, which carried out the withdrawal of 400,951 APT. At the time of publication, the transfer, which the developers allegedly carried out, equals $7,087.

Copycat NFT Page Frightens NFT Enthusiasts

As if that wasn’t enough, the NFT trading activity on the Aptos blockchain raised many questions on Crypto Twitter, as there’s huge NFT marketplace ambiguity. Besides, the surge in NFTs on the Aptos NFT marketplace is mostly driven by Topaz, which has over 70,000 followers on Twitter.

Much of this success has been achieved with the help of the Pontem Network. The NFT artists created a trending NFT collection with a Mint 2 Earn feature, which allows NFT enthusiasts to mint for free or even earn yield.

However, Topaz NFT marketplace has to compete with Aptos NFT – a counterfeit page claiming to do free airdrops on the regular. Crypto Twitter blasted Aptos NFT page, as none of the promised airdrops are actually happening.

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Despite a lengthy list of complaints, the @Aptos__NFT Twitter handle continues to grow and has nearly 20,000 more followers than the actual NFT marketplace. Ultimately, the fake Aptos NFT Twitter profile is deemed a thickhead move by many prominent figures of Crypto Twitter.

On the Flipside

  • Aptos is the first blockchain to put the advanced Move technology into practice.

Why You Should Care

APT is the top gainer of the week, generating a substantial amount of social mentions for crypto.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.