APT token price increased by 10,000% in the first minutes after listing on Binance

The value of the Aptos token (APT) increased by 10,000% in the first minutes after listing on the Binance cryptocurrency exchange. When paired with the Tether stablecoin (USDT), the value of APT increased from $ 1 to $ 100, but shortly afterwards, the price dropped to $ 7−8. At the time of writing, APT is trading at $ 8.11.

«We are confident that the technological competitiveness of the Aptos team will increase the scalability of the blockchain infrastructure and support new Web3 projects ,» said Yi He, head of Binance Labs, in late September.

Binance’s cooperation with Aptos Lab, a blockchain startup of former Facebook employees, was announced last month. Binance’s investment will be used to create a secure and scalable blockchain, expand staff, and develop the project’s infrastructure. The first step is to list the Aptos token (APT).

The launch of the new blockchain startup Aptos by former Facebook employees Avery Ching and Mo Shaik became known in early July. At that time, the co-founders emphasized that they were ready to cooperate with large technology companies and social networks to make the future blockchain known to as many people as possible and to make Aptos «used around the world.»