Written by: TechFlow

 

There is no doubt that Aptos is the brightest star in the crypto world this New Year winter. In just 20 days, it soared from $4 to $20. Every day when I wake up, I am overwhelmed by the APT price increase.

As a hindsight expert, I always like to ask and analyze the reasons: why is Aptos still so strong after losing FTX, an important support force?

I would be inclined to give an answer that it was a pull-up show from "Korea Power".

On January 26, APT’s trading volume on the Korean exchange Upbit exceeded $1 billion, which is four times the spot trading volume of Binance, and the spot trading pair of Korean won KRW has a significant premium.

So, what exactly did Aptos do in the Korean market?

Judging from the K-line, the surge in APT had a clear starting point. January 9th was an important day, when the Korean Xangle Blockchain Foundation Week opened. On that day, there was only one protagonist and theme on the scene, Aptos.

According to on-site participants, the presentation by Aptos staff received a very positive response, and Aptos staff made it clear that "we are very interested in the Korean market."

After the collapse of Terra, a vacuum appeared in the local Korean crypto market, which needed a new protagonist. Aptos seized the opportunity to enter the Korean market.

One detail shows that Aptos attaches great importance to the Korean market.

In the past, a large overseas project would often only provide an English version of the white paper, and Chinese versions were more likely to be community translations. Aptos simultaneously released the Korean version of the white paper on its official website, which is the only language other than English, and also expresses its sincerity towards the Korean market.

In addition, Aptos is preparing to launch the global hackathon Aptos World Tour Hackathon in 2023, which will be held in four cities. Aptos has placed the first stop in Seoul from February 1 to February 3.

As a foreign public chain, if it wants to gain a foothold in the Korean market, the support of local forces is also essential. To this end, Aptos has also formed a stable Korean partner.

For example, Aptos Seoul Hacker is co-hosted with a number of Korean crypto VCs and companies including Hashed, HYBE, IRONGREY and NPIXEL.

Korean companies such as Hashed, Hive and YG are investors in Aptos, and Korean blockchain companies such as a41, Despread and DSRV are participating as validators on its network.

Last November, Aptos signed a partnership with South Korean gaming company Npixel, and the two parties decided to jointly build a Web 3.0 game called METAPIXEL.

Games are also one of the important reasons why Aptos chose the Korean market. There are many game companies in Korea with mature experience. As long as a hit game appears, it can add vitality to the Aptos network.

In addition, South Korea also has the developers that Aptos needs.

In the past, the Korean local public chain Terra mainly used the Rust language, and Solana also used the Rust language. The Move language, which has the same origin, is also naturally suitable for developers on DApps of Terra, Solana, and Cosmos. In particular, there are many Terra Core developers in Korea, and now Aptos provides them with a new option.

After the collapse or crisis of FTX\DCG and other companies, the Western crypto market was inevitably hit hard. At this time, the Asia-Pacific market once again became a new growth point. Among them, the Korean market has high purchasing power, crazy speculative atmosphere, many developers, relatively friendly policies, and developed entertainment industries such as games... making it a major crypto center in Asia-Pacific.

What other important offline events will there be in South Korea in 2023? Based on the currently known information, we have made a brief summary.