Aptos Labs’ newcomer cryptocurrency Aptos (APT) was off to a rocky start as its value continues to drop. Aptos price plunged further today in its debut on major crypto exchanges in a move seen as its welcome to the ongoing crypto winter.
Coinbase, FTX, OKX, Huobi, and Binance were among the first exchanges to open spot trading for APT at 1:00 UTC Wednesday.
In a dramatic turn of events, the token’s price had already dropped 30% since its launch to the time it was being listed on Coinbase at about $9. It then dropped almost immediately by a further 50% to trade at a daily low of $6.69. At press time, the coin was trading at $8.31 According to Coinmarketcap.
To help traders who want to jump onto Aptos at its current low price, Coinjournal has prepared a brief guide on where to buy the APT token.
To find out more, please continue reading.
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What is Aptos (APT)?
Aptos (APT) is the native cryptocurrency of the newly launched Aptos Autumn blockchain that was launched by Aptos Labs on October 17, 2022.
Aptos Labs were the creators of the failed Diem stablecoin project that Meta Platforms Inc (formerly Facebook) had attempted to launch sometime back. Other products that Aptos Labs has developed to help users in We3 include the PetraWallet, AptosNames, and Aptos Explorer.
Despite the Aptos Autumn blockchain starting off to a controversy about its tokenomics which the team has spent much of the post-launch time dispelling, the team is also working to integrate the blockchain with a number of new innovations like novel key recovery, scalable sharding solutions, and intuitive parallel programming models to scale the user experience.
Should I buy APT today?
A majority of the crypto community has very high hopes for the newly launched Aptos blockchain and its Aptos (APT) token. Therefore, if you are looking to invest in a newly launched token at a low price, APT could be a good choice now that its price has plunged since its launch.
However, you should proceed with caution owing to the high volatility nature of cryptocurrencies and the fact that there are concerns about APT’s tokenomics and allegations about its processing speeds being lower than previously anticipated.
Aptos price prediction
It is difficult to give a precise Aptos price prediction and analysts expect the token to drop further in the coming days. However, the majority of investors are bullish on the cryptocurrency.
Aptos social media trends
1/ Welcome to @AptosLabs — we’re excited to re-introduce ourselves!
While @AptosFoundation will support and develop the Aptos network and ecosystem, Labs will develop tooling and products on the Aptos blockchain that redefine the web3 user experience ⬇️https://t.co/ENHW5b5xUD
— Aptos Labs (@AptosLabs) October 18, 2022