Heavy speculative demand for Aptos in South Korea tied to hopes of...
Previous reports indicated that there was strong buying pressure coming from South Korea. Unsurprisingly, Aptos hails from Korea and has a strong community in the country. The network just concluded its first hackathon which was held in Seoul, the capital of South Korea.
Similarly, it experienced a strong surge in volume within the last four weeks, which then peaked in the last week of January.Can Aptos maintain this demand? Well, so far we have seen a drop in the network’s social volume. This coincides with lower volume, hence visibility has been fading. The weighted sentiment also tanked in the first five days of February, confirming that there is now aThe sentiment reflects the market cap performance. The token’s market cap, at press time, was down by over $500 million within the last six days, hence there has been some selling pressure.
This means the wave of demand as seen in January has come to its conclusion and profit-taking has been happening as indicated by the market cap decline.
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