Let’s talk about why APT just can’t seem to take off.

The core issue? There’s a steady selling pressure from unlocking 1% of tokens every month—who can withstand that? Sure, there are plenty of retail investors picking up the slack in the market, but it can’t compete with the project team’s consistent distribution of tokens. In this cycle, its performance has really been disappointing.

Digging deeper, there’s an even more fatal flaw: the project’s annual profitability is actually pretty mediocre. Investors aren’t stupid—who wants to bet long-term on a chain that doesn’t make money? And look at their transaction fee pricing: it’s practically rock-bottom. With that kind of revenue structure, how could they possibly have the resources to build up the ecosystem and incentivize the community? The business model itself has some serious flaws.

I used to have high hopes for its technical narrative, but now I see things clearly—either short it and try to catch some swings, or just wait until there’s a turnaround. Of course, if you’re bold enough, you could try bottom fishing, but do so at your own risk.