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

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

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

This was enough to catapult the price of the Aptos (APT) token to jump more than 10%, hitting a new 30-day high above $13.68. At press time, the Aptos (APT) token is currently trade 9.53% up at a price of $12.88 and a market cap of $2.4 billion. In the last 24 hours, the total recorded 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 seize the idea with investors rushing to invest in the APT crypto token. Minutes after the tweet, the value of Aptos (APT) surged as investors looked to take advantage. 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 early 2023. Despite this current price spike, the native APT token is still trading at a 33% discount from its all-time high of $19.92, reached earlier. this year in January 2023.

Unlocking Aptos Tokens

Earlier this week, on April 12, millions of Aptos (APT) tokens were unlocked, significantly increasing its supply in the market. The estimated value of the Aptos Token Unlocks (APT) prize was $50 million. But despite this unlock, 84% of Aptos’ total supply (842.74 million APTs) is still locked. The next APT token unlock is expected in 27 days.

Elong Musk’s teases with digital assets are 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. So, many in the crypto community also dismissed his Aptos (APT) teases calling him “just Elon stuff.”

With its current price movement, Aptos (APT) has established a bullish trend on the technical chart. Crypto analyst Ali Martinez said there may be more gains ahead for APT token holders.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and has a good flair for understanding financial markets. His interest in economics and finance draws his attention to the new emerging markets of Blockchain technology and cryptocurrency. He is continually in a learning process and motivates himself by sharing his acquired knowledge. In his spare time, he reads thrillers and occasionally explores his cooking skills.


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