Crypto

Aptos Foundation Airdrop Failed Miserably, APT Price Plunge Hard

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The post Aptos Foundation Airdrop Failed Miserably, APT Price Plunge Hard appeared first on Coinpedia Fintech News

On October 19th, Aptos Foundation announced an APT airdrop for eligible end users. It is reported that in total, 20,076,150 $APT will be airdropped to 110,235 participants.

As the platform released an airdrop without a strict anti-Sybil attack, users received a huge number of APT tokens. APT saw extreme selling pressure, which caused the token to flash drop from $15 to $13. Large sell orders started a chain of active sells that gradually pushed the token’s price down to $7 at the time of publication.

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