Aptos Foundation Airdrop Failed Miserably, APT Price Plunge Hard

Aptos Foundation Airdrop Failed Miserably, APT Price Plunge Hard

Crypto Live News

Written by: Qadir AK

Written by Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Oct 19, 2022

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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