The Aptos (APT) Price Pump: Is It Worth The Risk?

The coin that has been the subject of intense speculation and controversy. A closer look at APT could she some light into why it has been referred to as the “most hated pump in crypto.”

APT Price Pump: A Controversial Phenomenon

According to crypto industry leader Ran Neuner, Aptos has been manipulated by Asian traders. He highlights that the high trading volumes in Upbit may be a clear sign. This is happening at a time when the Aptos Foundation prepares to host its first global hackathon in Seoul on Feb. 1.

Data from Coingecko shows that the APT/KRW trading pair in Upbit accounts for more than 73% of all the trading volume for the token. While in this crypto exchange APT trading volume surpassed $600 million over the past 24 hours, in other exchanges like Binance, trading volume for the APT/USDT pair hovers around $300 million.

Despite what could be dubious trading activity, some traders and analysts believe that Aptos has the potential to offer long-term value to investors. If viewed from a technical point of view, APT appears to have legs towards higher highs. Its low circulating supply, with high trading volume and daily token unlocks could create the perfect combination for high volatility, suggested Neuner.

Still, the price of Aptos is difficult to determine as there are no solid fundamentals yet behind the coin, and its has a very low circulating supply. Traders should be cautious when investing in APT, as the it could experience huge spikes and drops in value before reaching its fair value.

Source: beincrypto.com