Aptos (APT) Ranges Just Above $8, Is It Time To Dump Those Airdrop Tokens?

Aptos (APT launch) has been one of most chaotic crypto launches. After the digital asset made it to the mainnet, it was soon available on the centralized exchange lists. The project received a lot of inquiries regarding the tokenomics and the process for obtaining the tokens. There was not an Initial Coin Offering (ICO). A rush airdrop was launched that cost thousands of dollars.

Aptos Airdrop

The Aptos token (APT), was scheduled to be live hours before that. Crypto Twitter began asking important questions about this project. First, the listing of exchanges was being done without the public being made aware. The project posted a message announcing tokenomics.

Next came the inquiries about how members of the community were supposed to get the 51% of the token supply that was allocated for the ‘Community.’ Due to suspicions that investors in the project already had the tokens ready to dump on retail, users had begun to brand the launch as a pump-and-dump scheme. A majority of the users also regretted that there was no airdrop.

It would lead to one of the greatest airdrops ever seen in crypto history. The retroactive airdrop was announced to reward “early network participants with APT tokens.” The stash for each participant came out to around 150 APT tokens each, which were worth thousands of dollars at one point.

It’s time to sell APT tokens

The APT airdropIt has made its way around and the majority of participants eligible are likely to have claimed their tokens. Binance’s crypto-exchange data indicates that there was a 24-hour peak of nearly $60 for the digital asset. That would put the 150 Aptos tokens from the airdrop at approximately $9,000 each.

Aptos (APT) price chart from TradingView.com

 Source: APTBUSD on TradingView.com| Source: APTBUSD on TradingView.com

APT’s price has fallen more than 85 percent since then. The current trending price for the altcoin, $8. The APT tokens would be worth $1,200. Some may find this a high price to be selling out.

Over the years however, data continues to show that airdropped tokens are not a good investment. According to a Messari study, it is actually more profitable for tokens that have been airdropped to be flipped as soon as they are delivered. There are exceptions, but the vast majority of tokens have sold more quickly than they were received.

Market APT has been on the market for less than 24 hours, meaning that there may be additional dumps following the current pump. This could lead to a rapid decline in the token value for airdrop holders. Aptos may also conduct another airdrop that will probably require different criteria to the original.

Featured Image from Boxmining. Chart from TradingView.com

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