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Aptos sent $1.5 million $APT to multiple wallets. What does this mean for APT’s future?

Winnie Kimeu

Writer, News

Feb 28, 2023 at 04:27

In just 3 days, the Aptos Foundation sent $1.5 million ($50 million) APT to multiple wallets, with the largest wallet address 0x820 receiving 250K $APT ($4.1 million).

Further, the organization used three common wallets to deposit to Binance, with a netflow of 300K.

Source: Twitter
Source: @datanerdonchain on Twitter

The last time Aptos made a move was on Feb 4, 2023. Since then, the price of the APT token has dropped by almost 30%, from $17 to around $12, down 2.36% in the last 24 hours.

Source: Telegram
Source: Telegram

A comment made on a Telegram group predicts a dump in the near future.

Bearish or bullish?

On February 1, 2023, the network unleashed its latest node upgrade, version 1.2.4, brimming with exciting features and enhancements for both developers and users alike.

The brand new newsletter with insights, market analysis and daily opportunities.

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Notably, this upgrade includes optimizations that reduce timeouts for nodes in low-bandwidth environments, ensuring a smoother and more accessible experience for all users.

APT price on Feb 28, 2023. Source: CoinMarketCap
APT price on February 28, 2023. Source: CoinMarketCap

With this upgrade, Aptos Network is well on its way to becoming a pioneering force in the world of NFTs.

Many experts predicted a major bullish rally for the token. However, the recent drop is signaling a more bearish run.

What do you think?

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