Cryptocurrency

Why Aptos investors will benefit after clarity on its treasury exposure to FTX


  • Aptos denies treasury exposure to FTX 
  • A value rally follows, providing windfall to Aptos investors regardless of present bearish sentiment.

The FTX/Alameda saga is preserving the whole crypto market on edge. Some belongings, akin to FTX tokens (FTT), Solana (SOL), and Serum (SRM) had been uncovered to excessive threat and suffered large dumps and losses. Interestingly, an alleged Tether exposure to Alameda additionally led to a de-pegging of USDT from USD. 

A rumor that Aptos’ treasury additionally had exposure to FTX rattled investors. The concern, uncertainty, and doubt (FUD) ensuing from the rumor may spin the newest crypto asset into one other FTT dump state of affairs. 

In a fast rejoinder, Aptos issued a press release distancing itself from FTX/Alameda. It reiterated that the Aptos Labs and Aptos Foundation treasury had no connection to FTX and would proceed to function usually.

Amidst the rumor, Aptos’ costs continued to fall. However, instantly after the assertion, there was an upward value improve.

The latest improvement may imply good points for Aptos investors, whereas the remainder of the neighborhood posted losses. We appeared intently at different metrics and located that the replace could possibly be a windfall for investors.

Aptos information upward value reversal

Source: TradingView

Aptos (APT) reacted strongly to the replace, leaping 30% from $3.9 to $5.1. The transfer rapidly eased promoting strain, as evidenced by the Relative Strength Index (RSI) pulling again from oversold territory. 

An improve in buying and selling quantity, as proven by the rise at OBV, supplied the required shopping for strain to drive APT additional northward.

An increase available in the market capitalization of APT adopted

1668173483 556 Why Aptos investors will benefit after clarity on its treasury

Source: Santiment

According to Santiment, the buying and selling quantity of APT elevated from 480 million earlier than the announcement to 530 million after the clarification.

Also, the social quantity elevated concurrently, which can point out constructive social engagement following the announcement. 

The improve additionally raised the market capitalization from about $470 million earlier than the announcement to over $560 million after the announcement.

At press time, the market capitalization of APT was $672 million. This represented a rise of over $100 million in a market that has fallen from over $1 trillion to about $880 billion due to the FTX contagion. 

The complete worth of APT locked (TVL) on Defi platforms additionally noticed vital constructive adjustments. According to DefiLlama, APT had a TVL worth of $32 million, with the dominant alternate AUX recording +0.22% at press time, representing an intraday improve. 

Clarity on Aptos’ treasury exposure to FTX gave investors a windfall. With a bleeding market and bearish sentiment towards Bitcoin, Aptos investors can heat up for the winter. 

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