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Elon Musk Tweet Spurs 7% Aptos Price Surge

APT quickly retraced the entire move after Musk deleted a tweet saying, "AI APT OTT!"

By Oliver Knight
AccessTimeIconApr 14, 2023 at 1:17 p.m. UTC
Updated May 9, 2023 at 4:12 a.m. UTC
APT price movement (Cryptowatch)
APT price movement (Cryptowatch)
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Aptos (APT) rallied by 7.4% in less than a minute on Friday after Twitter CEO Elon Musk tweeted, “AI APT OTT!”

"APT," in this context, however, was an acronym for Advanced Persistent Threats, not the aptos token, and APT retraced the entire move higher after Musk deleted the tweet one hour later.

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    • This is not the first time Elon Musk or companies he's associated with have moved crypto markets. Only days ago, Twitter changed its logo from the blue bird to the Shina Inu dog that represents dogecoin, sending that meme coin surging as much as 35%. The logo has since been switched back.

    Even with the retracement, aptos, which is the native token of the Aptos blockchain, remains up by 8.2% over the past 24-hours alongside gains for much of the altcoin market following Ethereum's successful Shanghai upgrade.

    APT has now rallied by more than 89% since its debut in October 2022.

    Edited by Stephen Alpher.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight
    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

    Follow @OKnightCrypto on Twitter

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