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Solana Killer Aptos (APT) Jumps 8% as Market Falls, Here's Why

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APT 24-hour trading volume also witnessed spike of 226%

The exact reason for the rise remains unknown, as a glance through the official Aptos X page reveals no big announcement or upgrade that might have triggered the rise.

However, Aptos attracted attention over the weekend after Upbit, South Korea's largest cryptocurrency exchange in terms of trading volume and customer base, made an important announcement.stated that it temporarily suspended deposits and withdrawals for the APT token after confirming an abnormal deposit attempt.

The exchange subsequently resumed deposits and withdrawals but highlighted the possibility that"the price may change drastically when deposits and withdrawals resume." This is significant because South Korean crypto traders have a history of driving major token rallies. The region is the source of the so-called Kimchi Premium, which causes the price of Bitcoin on local markets to trade up to 30% higher than the price on global exchanges.

 

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