Shortly after Elon Musk’s tweet, Aptos token recorded a total trading volume of $460 million. On the technical chart, APT has formed a bullish pattern and it could go higher.
In an interesting development, Aptos Token (APT) got an unexpected boost from the second richest man in the world, Elon Musk. In one of his crypto tweets, which he later deleted, Elon Musk mentioned that “AI” and “APT” generated a lot of interest from the crypto community.
This was enough to push the price of the Aptos (APT) token to jump more than 10% to a fresh 30-day high of $13.68. As of the time of publication, the Aptos (APT) code is current commerce 9.53% at $12.88 and a market capitalization of $2.4 billion. Over the past 24 hours, the total has recorded a total trading volume of $460 million.
Note that there is no clear mention in Elon Musk’s tweet that “AI APT OTT!” However, it was enough for the crypto community to pick up on the idea as investors rushed to invest in crypto token APT. Within a few minutes of the tweet, the value of Aptos (APT) skyrocketed as investors looked to take advantage. Interestingly, one user asked Elon Musk why he deleted the tweet. That’s what he said.
Find out what AI means
– Elon Musk (@elonmusk) April 14, 2023
The Aptos cryptocurrency has been in the news since the beginning of 2023. Despite this current price hike, the native APT token is still trading at a 33% discount from its all-time high of $19.92, which was achieved earlier this year in January 2023.
Unlock Aptos Codes
Earlier this week on April 12th, millions of Aptos (APT) tokens were unlocked to significantly boost the market supply. The estimated value of Aptos Token Unlock (APT) is $50 million. But despite this unlock, 84% of the total supply of Aptos (842.74 million APT) remains locked. The next unlock of APT tokens is scheduled in 27 days.
Elong Musk’s harassment of digital assets is nothing new. Earlier this month, we saw how he launched a rally in Dogecoin (DOGE) by changing his Twitter logo to the Shiba Inu “Doge” meme. Consequently, many in the crypto community have also dismissed the impressive Aptos (APT) as “just Elon stuff.”
More gains in sight $APT https://t.co/zhbtJtvLUM
– Ali (ali_charts) April 14, 2023
With the current price action, Aptos (APT) has identified a bullish pattern on the technical chart. Cryptocurrency analyst Ali Martinez stated that there may be more gains in the future for APT token holders.
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Bhushan is a financial technology enthusiast with a good knack for understanding financial markets. His interest in economics and finance has turned his attention towards the new emerging Blockchain technology and Cryptocurrency markets. He is persistent in the learning process and keeps himself motivated by sharing the knowledge gained. In his spare time he reads fantasy and thriller novels and occasionally explores his culinary skills.