"Wow why is this crypto suddenly violent?"
Since the start of 2023, cryptocurrency Aptos (APT) has been among the headliners with a 400% jump to a new all-time high of $20.39 but is now down slightly at $18.07.
In the near term, among several factors that can further increase the price of APT in the short term are:
A history of wealth and strong investor support
APT is a by-product* of Facebook's social media platform through the Libra blockchain that has two developer members named Mo Shaikh and Avery Ching.*A by-product made in the manufacture or synthesis of something else
The digital asset aims to introduce layer-1 blockchain just like its competitors Solana (SOL) and Cardano (ADA) which want to provide decentralized and secure blockchain technology without any fraud.
Development of a robust ecosystem
Besides there are several decentralized financial projects and non-fungible tokens (NFT) on the APT blockchain, more than 94% of the blockchain transactions are for the transfer of digital assets. It is reported that the number of active developers of APT is higher than Avalanche and Tezos but still cannot beat SOL, ADA, Polkadot (DOT) and Ethereum (ETH).
Trader disbelief can drive APT prices higher
While investors sold APT due to lack of confidence in its further growth, other investors took the opportunity to buy a number of these digital assets to rapidly increase its price.
Selling pressure on APT is limited
APT limited the sale of its digital assets to their launch in October 2022 and APT's distribution will likely increase dramatically after the delay in unlocking investors until October 2023.
Kimchi premium (crypto asset price difference between South Korean exchange and foreign exchange)
Most investors are interested in buying APT when there is a South Korean won trading pair on crypto exchange company UpBit which has made up almost 40% of the digital asset's trading volume.
