In total, more than 20 million coins were airdropped

Aptos blockchain developers conduct an airdrop of APT tokens

19.10.2022 - 12:30

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3 min

What’s new? Aptos Foundation has held an airdrop of native tokens of the Aptos (ATP) blockchain. The project’s team airdropped a total of 20 076 150 APT to 110 235 users. The day before, the price of the coin increased by 10 000% immediately after listing on the Binance crypto exchange, rising from $1 to $100. As of October 19, 11:00 UTC, APT is trading at $8,155, and the total capitalization of the project has reached $1,059 billion.

What else is known about airdrop? An analyst under the pseudonym Paradigm Engineer #420 said on Twitter that the Aptos Foundation owns 80% of the 1 billion total token issue.

Also, analyst Colin Wu noted that some users received many more tokens than others. For example, one of the airdrop participants received 189 567 APT. He immediately sold these coins on the exchange, thereby collapsing the price of the token, Wu added.

What is known about Aptos? It is a blockchain network created by former developers of the Diem blockchain project for Meta. The network itself was launched on October 18. Aptos representatives said that the blockchain is capable of processing 130 000 transactions per second (TPS) compared to 30 TPS on Ethereum.

The project held several rounds of funding before launching. The company raised $200 million from major industry players, including venture capital fund Andreessen Horowitz (a16z). Aptos also received $150 million from the FTX crypto exchange, which promised to list the APT token.

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