Aptos Rallies While Major Cryptos Trade Lower

A token that’s designed to fool users into thinking it's an authentic version of Aptos temporarily shut down services on Korean exchange Upbit for the APT token after some were able to deposit and cash out the counterfeit coin. According to on-chain data, the token, which originated from the airdrop scam site ClaimAPTGift.com, is held by approximately 400,000 wallets. On X (formerly known as Twitter), one user highlighted a bug on Upbit that caused the exchange to accept the fake tokens because it didn’t thoroughly check the underlying source code. Aptos’ APT token was one of the only digital asset tokens trading in the green on Monday, rallying 10% over the past 24 hours. Bitcoin, the world’s largest cryptocurrency by market value, traded down almost 2% over the same time period. Chainlink’s LINK was the only other digital asset that gained on Monday, up 2% after a strong week last week. Looking forward, eToro analyst Simon Peters noted in a morning update that this week looks slow for cryptocurrencies due to few macroeconomic updates. “With little in the way of major macro updates this week, there is little to stir the market bar unplanned events,” said Peters. “The market is looking for signals to take a direction and has been moving fairly flat for some time now.”