‘Solana Killer’ Aptos (APT) Soars 390% to Become Most Profitable Crypto of the Month, Here’s How

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Gamza Khanzadaev

Aptos token price quadruples in just one month, here’s the secret to success behind the most profitable crypto of the month

The Aptos token, APT, in January became the most profitable crypto asset among the top hundred cryptocurrencies by market capitalization, according to CoinMarketCap rankings. The blockchain created by the descendants of Meta, aka the old Facebook, became famous as the “Solana killer”. However, while initially everyone thought it was about niche and technology, it came to fruition due to the price action of its token.

Aptos became a real sensation in 2023, when its symbolic price rose from $4 to $20 at the top and produced a furor on par with that demonstrated by Solana in 2021. Such powerful price action led to a more than $2 billion increase in APT’s market capitalization. If all Aptos tokens were on the market, it would be the seventh largest cryptocurrency right now.

The Secret to Aptos (APT) Success

Like its predecessor, the success of the Aptos token in January was likely due to the fact that 97% of its circulating supply was in the wallets of a centralized group of investors, amounting to 20 addresses. So there is every reason to believe that the inflated price of the APT was due to collusion.

6.

Top 20 $APT Holders

The top 20 holders of APT hold a total of $155,576,835 ($2.76 billion), representing 15.3% of the total supply and 97.1% of the circulating supply. pic.twitter.com/EeCbAXu77T

Lookonchain (@lookonchain) January 27, 2023

At Solana, however, Sam Bankman-Fried was responsible for it with his market-making black magic.

This collusion was perhaps further monetized by the greed of retail investors, particularly those at crypto exchange Upbit, when APT trading volumes on a major South Korean exchange exceeded all imaginable values.

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