Aptos Price prediction: Is It Worth the Risk?
Aptos is definitely enjoying a big breakout at the beginning of 2023. What’s the Aptos price prediction in the near future?
In the crypto world, altcoins have been making waves in recent months, with many investors eager to take advantage of the lucrative opportunities these coins offer. One of the most talked-about altcoins is Aptos (APT).
APT coin has been the subject of intense speculation and controversy. A closer look at the crypto could provides insight into why it has been called the “most hated pump in crypto.”
Aptos Price Prediction: A Controversial Phenomenon
According to crypto industry leader Ran Neuner, Aptos has been manipulated by Asian traders. He stressed that the high trading volumes in Upbit may be a clear sign of this. This comes as the Aptos Foundation prepares to host its first global hackathon in Seoul on Feb. 1.
Coingecko’s data 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, APT’s price is difficult to determine as there are no solid fundamentals yet behind the coin, and its circulating supply is very low. Traders should be cautious when investing in Aptos, as it could experience huge spikes and drops in value before reaching its fair value.
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Should You Invest in Aptos Now?
Another interesting aspect of Aptos is the behavior of its development team. According to reports, the Aptos team’s dev wallet has been “feeding the Korean ducks” $20 million in spot sent to Binance nearly every time there’s a pump.
This has occurred in the past during the weekends, when the price was rallying.
While Aptos has the potential to offer investors lucrative opportunities, caution must be exercised when investing in this coin. Algorithm-based Aptos price prediction can be wrong. Its manipulation and volatile prices make it a risky investment, and traders should be aware of the behavior of the development team.
As always, traders should only invest what they can afford to lose and should not rely solely on their investments to support themselves financially.
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