According to reports, blockchain-based supply chain management platform aptos, the developer team sold another $45 million worth of tokens. An analyst at Light Crypto, who did not want his name to be disclosed for security reasons, wrote that $ 20 million worth of spots were sent to Binance in the last hour. The analyst had previously added that $1 billion in inventory remained in the wallet.
The news of a potential token sale by the Aptos developer team comes at a time when the platform has seen a significant drop in the value of its native token. Aptos is currently trading at $12, down 36% from its recent high.
Korean interest in Aptos has waned — exit liquidity is disappearing just as demand for it becomes more pressing: pic.twitter.com/ES5UWq2jcA
— light (@lightcrypto) February 25, 2023
NEWS CONTINUES BELOW
The tightly controlled token supply has been activated and another $17 million sale is expected on February 1 using the same methodology as in October.
This news has caused some concern among Aptos investors and the wider cryptocurrency community. Because the significant sale of tokens by the developer team may cause the token value to decrease further. However, token sales by developer teams cryptocurrency It should be noted that it is not uncommon in the field. In fact, this is often seen as a way for teams to fund ongoing development and maintain the longevity of their projects.
Despite the potential for the token value to drop further, some investors may see this as an opportunity to buy at a lower price point. However, it is important to remember that any investment in the cryptocurrency space carries a significant amount of risk and investors should always do their own research and make informed decisions.