[Asia Economy Reporter Lee Jung-yoon] In the stagnant cryptocurrency market, 'Aptos,' a coin developed by former Meta (formerly Facebook) personnel, is gaining momentum. Among domestic cryptocurrency exchanges operating Korean won markets, Upbit is the only one supporting Aptos trading, recording the highest trading volume, surpassing well-known coins like Bitcoin and Ethereum, and earning over 200 million KRW in fees daily.
According to the global cryptocurrency market tracking site CoinMarketCap, as of 8:40 AM on the 24th, Aptos was trading at $9.76 (approximately 13,976 KRW), up 10.18% from the previous day.
The Aptos token, created by personnel who participated in Meta's cryptocurrency project Libra, is considered the hottest topic in the industry in the second half of this year. The Aptos mainnet is known to have made improvements to have advantages in scalability and speed compared to existing Layer 1 blockchains, including Bitcoin and Ethereum.
Aptos was simultaneously listed on major global exchanges on the 19th. On its first day, according to CoinMarketCap, Aptos traded around $8.50. Although it dropped to $6.80 afterward, investor interest surged, pushing it above $10 the day before. Trading volume was $1.8937 billion (approximately 2.7139 trillion KRW) on the first day, decreased to $529.64 million the next day, but has been steadily increasing since. The previous day's trading volume rose to $1.56361 billion. This trading volume ranks sixth in the coin market, following stablecoins such as Tether (USDT), Binance USD (BUSD), USDC, and cryptocurrencies like Bitcoin and Ethereum.
On Binance, the world's largest cryptocurrency exchange, Aptos showed significant volatility early on, rising from its listing price of $1 to as high as $100, a 100-fold increase.
Domestic investors' interest in Aptos is also intense. Among exchanges operating Korean won markets, Aptos is listed only on Upbit. As of 9:30 AM, Aptos recorded the highest trading volume on Upbit, approximately 462.1 billion KRW. Multiplying by the basic fee of 0.05%, this means Upbit earned about 231.05 million KRW in fees from Aptos trading in a single day. Since its opening price of 9,635 KRW on the 19th, Aptos has risen for five consecutive days on Upbit. However, as of 9:45 AM, it was trading at 13,850 KRW, down 1.14% (160 KRW).
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