Earthmeta Earthmeta

Elon Musk’s Tweet Pushes Aptos Token (APT) Price to New Highs

| Updated
by Bhushan Akolkar · 2 min read
Elon Musk’s Tweet Pushes Aptos Token (APT) Price to New Highs
Photo: Depositphotos

Soon after Elon Musk’s tweet, the Aptos token clocked a total trading volume of $460 million. On the technical chart, APT has formed a bullish pattern and could rally even further.

In an interesting development, the Aptos token (APT) got an unexpected boost from the world’s second-richest man Elon Musk. In one of his cryptic tweets, which he deleted later, Elon Musk mentioned ‘AI’ and ‘APT’ spurring massive interest from the crypto community.

This was enough to catapult the Aptos (APT) token price to jump more than 10% hitting a new 30-day high past $13.68. As of press time, Aptos (APT) token is currently trading 9.53% up at a price of $12.88 and a market cap of $2.4 billion. Over the last 24 hours, the total has clocked a total trading volume of $460 million.

Note that there was no clear indication in Elon Musk’s tweet that read “AI APT OTT!” However, it was enough for the crypto community to catch the idea with investors rushing to invest in the crypto token APT. Within a few minutes of the tweet, the value of Aptos (APT) surged with investors looking to advantage of the same. Interestingly, one of the users asked Elon Musk why he deleted the tweet. Here’s what he had to say.

The Aptos cryptocurrency has been in the news since the beginning of 2023. Despite this current price surge, the native APT token is still trading at a 33% discount from its all-time high of $19.92, achieved earlier this year in January 2023.

Unlocking Aptos Tokens

Earlier this week on April 12, millions of Aptos tokens (APT) were unlocked boosting its market supply significantly. The estimated price value of the Aptos (APT) token unlocks was $50 million. But despite this unlocking, a staggering 84% of the Aptos’ total supply (842.74 million APT) is still locked. The next unlocking for the APT tokens is due in 27 days.

Elong Musk’s teasing with digital assets is nothing new. Earlier this month, we saw how he catapulted a rally in Dogecoin (DOGE) by changing the Twitter logo to a Shiba Inu “Doge” meme. Thus, many in the crypto community also dismissed his Aptos (APT) teasing calling it “just Elon things”.

With its current price move, Aptos (APT) has set a bullish pattern on the technical chart. Crypto analyst Ali Martinez stated that there could be more gains ahead for APT token holders.

Altcoin News, Cryptocurrency News, News
Related Articles