Aptos Currently Faces Massive Sell-Off, What’s Next For APT Price ?

The last 30 days has worked out spectacularly well for most of the cryptocurrencies and Aptos tops the list. In the last one month, Apt has spiked nearly 460%. However, after a bullish week, Aptos faced a slight correction at $17.52.

At the time of writing, Aptos is changing hands at $17.06 after a pull back of 5.11% over the last 24hrs. However, in the last three weeks, Aptos has surged nearly 500% after hitting a new all-time high of $18.36.

Aptos To Form A Downward Movement ?

Meanwhile, a veteran crypto trader who is anonymously known as LightCrypto throws light on Aptos mass-selling by the team. As per the trader Aptos dev team wallet which is in connection with Aptos (APT) blockchain is transfering huge APT tokens to Binance exchange. LightCrypto then states that Binance has so far received $20 million APT while $1 billion is still in the wallet.

Aptos dev team wallet has started feeding the Korean ducks, ~$20mm in spot sent to Binance in the last hour.

$1b in inventory remains in the wallet.

The tightly controlled supply has activated. pic.twitter.com/Ll75mTX0TQ

— light (@lightcrypto) January 28, 2023

Further the analyst expects that these Aptos (APT) tokens have been taken over by South Korea’s crypto exchange, Upbit.

Also a blockchain advisor and CIO at Selini Capital warns investors to not to open any short positions on APT/USDT pair as of now.

APT another display of how Paleolithic the industry still is.

Preppy VCs thought they were investing in promising L1 tech. Lolz.

Pure PvP gambling that only ends with unlocks extracting all the Won from the Korean Squid Gamers

p.s. short is overcrowded, dont play unless Pro. https://t.co/xaychpJgVw pic.twitter.com/JY1gjXDWiy

— Jordi Alexander (@gametheorizing) January 28, 2023

Meanwhile, Aptos’ further price action mostly depends on the first cryptocurrency, Bitcoin’s upward movement which is currently flirting around $23,000 level.

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