Aptos Token Rebound Amid Upstart Analysts Warnings

  • Aptos is currently trading at $8.12.
  • Allegations have been made by experts against Aptos chain risks.
  • Behemoth exchanges have offered to support the crypto pair.

According to CoinGecko statistics, the APT token was trading at $8.12, up 30% from its low of $6.75 set last week. Based on statistics from Riyad Carey, a research analyst at cryptocurrency analytics company Kaiko, it is rapidly reaching the $12 price where it debuted on numerous exchanges at this rate of recovery. 

The coin was trading at $9 on the cryptocurrency exchanges of Coinbase, Huobi, FTX, and Binance in the early hours after its Oct. 19 introduction.

However, several allegations are being made regarding this new chain’s risks and problematic aspects. Right present, almost all investments are made purely on the basis of speculation.

A reasonably accurate account of the lack of fanfare was posted on NASDAQ. It points to the team`s promise of over 100,000 transactions per second which was missed in stunning fashion. Aptos immediately became the top trending coin on CoinMarketCap, but for all the wrong reasons.

Many factors contributed to people’s high expectations for Aptos. One is that Aptos has a top-notch development staff. Many of the Aptos engineers were former employees of Facebook’s Meta division and had worked on the company’s much-publicized Diem cryptocurrency project.

Recall the year 2019 when Mark Zuckerberg was pushing Libra, a cryptocurrency token that some experts said will one day displace the US dollar. There were Aptos team members involved. The Aptos crew became known as the “Silicon Valley wunderkinds” as a result.

However, a few of the most popular exchanges in terms of volume said that they will support the cryptocurrency.

Exchanges have a clear motivation to list the tokens of popular projects since they get fees based on trade volume. In fact, after Bitcoin and Ether in terms of volume on the day, APT is Binance’s third-highest token.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer