Aptos (APT) Gains 13% Despite Price Manipulation Allegations

Robot flying in front of a red token in a dark forest.
  • Despite 4.54 million APT tokens unlocked yesterday, $APT soars 13.34% daily.
  • ‘The unicorn born in a bear market’ set its all-time high at $19.82 2 months ago. 
  • Aptos hosts an NFT Roundtable event on Twitter Spaces to onboard new projects.

Emerging crypto newcomer Aptos has reached several milestones since its late 2022 launch. The first blockchain enterprise to adopt Move technology, it also held several Move Language workshops for upcoming developers.

Last weekend, builders and crypto enthusiasts in Bangalore, India, had the chance to participate in the educational event. At the same time, Aptos plans a Twitter Spaces to onboard NFT artists, featuring representatives of SPOOKS, Aptos Monkeys, and Lemour Lounge.

Crypto Twitter Takes It Out on Aptos

However, the success of the emerging alternative cryptocurrency Aptos (APT) is often overshadowed by controversy. Today, the inconvenient question of “is Aptos just another VC scam?” was raised again in a recent video episode of Coinage Media. 

In the episode exclusively dedicated to the market newcomer Aptos, popular crypto YouTuber Gabriel Haines lashed out at Aptos, alleging that it’s a “Goddamn scam,” and pointed out that whales on Crypto Twitter deliberately pumped it. 

As if that wasn’t enough, the crypto YouTuber boldly claims that Aptos blockchain has “literally no reason to exist, other than to put money in the bags of rich, smelly, venture capitalists.”

Whether cloudy judgment or not, it’s as clear as day that many crypto aficionados on Twitter tend to second that opinion. To illustrate, crypto trader Multichain Madman remarked, “Aptos has to be the most obviously manipulated large crypto. Scam candles at just the right times lol.” Besides, Aptos developers were called out by Crypto Twitter in January when the dubious 420% price rally took place.

Shining Moment for Aptos Amid Chaos

According to multiple crypto traders on Twitter, the max supply of 1,024,157,148 Aptos (APT) tokens is owned exclusively by the blockchain company, while just 176,874,541 $APT coins are actually in circulation. Despite this, the altcoin is largely traded on Binance, with $132,440,515 in trade volume in the last 24 hours.

The #33 ranked altcoin bounced back to double digits after briefly falling short the fundamental resistance level of $10 on March 10th, 2023. On Sunday, the $APT altcoin broke out of the ascending triangle formed due to bullish divergence and inked 13.34% gains. At press time, APT trades at $11.74, according to CoinGecko.

On the Flipside

  • Aptos used the Move smart contract as their underlying programming model and started securing the network through bug bounties and modular encapsulation, among other safety measurements.

Why You Should Care

Aptos blockchain is one of the most watched altcoins of 2023 and the biggest gainer of the year among the TOP 100 cryptos by global market cap.

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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.

Tadas Klimasevskis

Tadas Klimasevskis is an author & reporter, focusing on the latest tendencies of the crypto galaxy. Tadas spends his time digging deeper into specific areas like coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art, and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.