- South Koreans are trading Aptos (APT) tokens in bulk orders.
- Aptos 24-hour trading volume against the Korean won has reached $566 million on Upbit alone.
- Aptos has a large following in South Korea and the team is slated to visit Seoul soon.
South Koreans may once again prove to be a reliable market mover within the crypto space. In fact, they may be the primary reason why Aptos (APT) is witnessing the bull run of its life.
According to crypto journalist Colin Wu, the trading volume of Aptos has reached $566 million in the last 24 hours alone. This is only for one trading pair — APT with the Korean won (KRW) — on Upbit alone.
As stated in the tweet above, the 24-hour trading volume on Upbit has exceeded even that of multiple trading pairs at Binance, the world’s largest crypto exchange by trading volume. Given that there are multiple crypto exchanges operating in South Korea, the 24-hour trading volume of APT can be significantly higher than $566 million.
Leading crypto exchanges in South Korea include Bithumb, Coinone, Korbit, Gopax, and Upbit. Cryptocurrency is not legal tender in the country, although citizens are allowed to use and trade crypto on regulated platforms.
Meanwhile, APT is currently changing hands at $17.85, according to CoinGecko. As mentioned above, this is a gain of almost 130% since last week.
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Aptos is a favorite among the Korean community. In fact, the Aptos team is slated to visit South Korea’s capital Seoul soon, according to a tweet.
Technology-wise, Aptos is a layer 1 blockchain ecosystem that functions similarly to Ethereum. This means that Aptos is compatible with smart contracts as well.
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