Aptos (APT) Price Analysis and Prediction After CEO Resigns

The event of Aptos CEO Mo Shaikh resigning has severely impacted the price of Aptos (APT), disappointing many APT investors. Particularly, the situation has become more serious as it occurred during a strong decline in the Altcoin market.

The X community has started to make predictions and analyze the APT price after this event. Here are the summaries and observations from BeInCrypto.

Is the resignation of a project's CEO a cause for concern?

At the moment, the APT price is under two pressures. Firstly, the selling pressure from the general decline of Altcoins in the past week, and secondly, the concern of APT investors when the CEO resigned. This has made APT a stronger Altcoin decline compared to the general market. This week alone, APT has dropped by 36%, while most Altcoins have recorded an average decline of 25%.

Many investors believe that Mo Shaikh has abandoned the project after unlocking all of his Tokens. Cryptorank data shows that currently, about 49% of the total APT supply has been unlocked and put into circulation, with more than 50% still to be unlocked. According to the vesting schedule, the project will continue to unlock 1% of the total supply each month.

"The founder of Aptos (APT) has just left the project after all of his Tokens were unlocked. This is a typical strategy of Venture Capitalists (VCs). Do they really believe in it? No. They have unlocked all the Tokens, so now there is no reason to stay." - Investor yourfriendSOMMI commented.

Some other investors believe that this will be remembered like the Litecoin CEO who sold everything at the 2018 peak. However, alongside the negative views, some more neutral and positive views suggest that APT will be fine.

"Overall, this is bad news in the short term, but in the long term, I think it's still fine. This CTO (the new CEO) comes from Meta and was also the one who designed Aptos from the beginning, so he will still develop it well." - Investor Steven predicted.

Investor Steven compared it to the resignations of many CEOs of major projects in the industry, such as DeFi godfather Andre Cronje, or the CEO of Near, the CEO of Compound... but the projects still continued to exist and develop.

The Aptos (APTOS) network has recorded many positive signs in 2024

The basic on-chain data of Aptos reveals a fairly positive picture about this network. This data provides a basis for investors to continue to have expectations for Aptos and the APT price.

Aptos' monthly active users are at their highest level of the year, with over 10 million users. In addition, the market capitalization of the USDT stablecoin on Aptos has seen a dramatic increase in the last quarter of 2024, increasing tenfold over the year, reaching over $400 million. Other data such as Blocktime or on-chain volume remain stable.

The defillama data also shows that Aptos' TVL in December has exceeded $1 billion, a fourfold increase since mid-year. This has led many investors to believe that APT may be undervalued at the moment.

"I believe Aptos is currently undervalued, this is a great opportunity to buy during this major price drop! SUI has increased tenfold since the decline, and Aptos is likely to do the same!" - Investor Kei Ito predicted.

From a technical perspective, there are two important supports on the APT price chart in the short term.

These two supports are $9.5 and $7.5, determined by the uptrend line from August and the support zone from April. If APT breaks through the $9.5 zone, it is very likely that the price will recover from the lower support at $7.5.

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