According to reports, the blockchain-based supply chain management platform Aptos may sell another $45 million worth of tokens.
Aptos (APT) is Facing $45 Million In Selling Pressure
A Light Crypto analyst, who remains anonymous for security reasons, wrote that the Aptos development team’s wallet began “feeding the Korean ducks” with $20 million transferred to Binance in the past hour. Earlier, analysts added that $1 billion in inventory remained in wallets.
News of a potential token sale by the Aptos development team came when the value of the platform’s native token dropped significantly. Aptos is currently trading at $12, down 36% from its recent high.
The news has caused concern among Аptos investors and the broader cryptocurrency community, as a significant sale of the token by the development team could further reduce the value of the token. However, it is worth noting that token sales by development teams in the cryptocurrency space are not uncommon. In fact, it’s often seen as a way for teams to fund ongoing development work and maintain the life of a project.
Some investors may see this as an opportunity to buy at a lower price, even though the value of the token may drop further. However, it is important to note that investing in the cryptocurrency space carries significant risks and investors should always do their own research and make informed decisions.
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