Aptos Surges 460%, CIO Warns Investors Against Short Positions

• Aptos has seen a surge of nearly 460% in the past month, hitting an all-time high of $18.36.
• A veteran crypto trader has noted that Aptos development team wallet has been transferring large APT tokens to Binance exchange, with $1 billion in inventory still in the wallet.
• Blockchain advisor and CIO at Selini Capital have warned investors to not open any short positions on APT/USDT pair.

The past 30 days have been an incredibly successful period for Aptos, with the cryptocurrency spiking nearly 460% and hitting an all-time high of $18.36. This surge in price has been largely attributed to the controlled supply of the token and the fact that the development team wallet has been transferring large amounts of APT tokens to Binance exchange.

The veteran crypto trader LightCrypto has thrown light on the sell-off by the team, noting that Binance has so far received $20 million APT while $1 billion is still in the wallet. It is further speculated that these tokens have been taken over by South Korean crypto exchange, Upbit.

The CIO at Selini Capital and blockchain advisor have warned investors to not open any short positions on APT/USDT pair. This is due to the fact that the market is too volatile and unpredictable right now and there is a risk of a further decline in price if the traders open short positions.

At the time of writing, Aptos is changing hands at $17.06 after a pull back of 5.11% over the last 24hrs. It is uncertain what will happen to the price of Aptos in the near future, but investors should be cautious and be aware of the risks associated with trading in the cryptocurrency markets.