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Aptos struggles with low development activity and social dominance despite record transaction milestones.

A notable headwind rocked the cryptocurrency market on Thursday, driving down not only the sector's leading asset but a great many coins and tokens that tend to slipstream behind it.

Avalanche joined Aptos as worst performers, falling 6%.

Bitcoin (BTC) and other cryptocurrencies suffered a bloodbath over the weekend as markets dropped significantly. In just over 24 hours, BTC dropped from around $108,000 to its current level of $95,000, as the Fed's announcement about reducing rate cuts in 2025 hit the market hard.

Here is how some of your favorite assets concluded the week.

TL;DR Mo Shaikh, co-founder of Aptos Labs, resigns as CEO but will continue as the company's strategic advisor. The CEO position will be taken over by Avery Ching, co-founder and CTO of APT, to lead the company's next phase of growth. After Shaikh's departure, the APT token experienced a 12.4% drop, reaching $10.

In a significant leadership shift, Mohammad Shaikh, the co-founder and CEO of Aptos Labs, has announced his resignation to pursue new ventures. Avery Ching, the company's co-founder and Chief Technology Officer, will now serve as its CEO.

Aptos Labs undergoes leadership transition as co-founder Mo Shaikh steps down as CEO, with fellow co-founder Avery Ching taking over amid market response and continued platform development.

Digital assets traded largely in the red on Friday as Bitcoin failed to steady above $100K amid unwelcoming economic signals. The altcoin space continued to bleed, with most assets recording significant losses over the past day. Meanwhile, reports of Aptos Labs CEO quitting amplified APT's price volatility.

Mo Shaikh, co-founder of Aptos Labs leaves the company as CEO “to start a new chapter.” The post Aptos Labs CEO Mo Shaikh Resigns, Continues to be Strategic Advisor on Board appeared first on Cryptonews.

Aptos faces pivotal resistance as traders watch for a breakout to sustain its rapid growth.

Mo Shaikh, CEO of Aptos, has resigned from his position. He named co-founder Avery Ching as his successor for the role.

Mo Shaikh, who co-founded the firm in 2021 alongside Avery Ching said he would stay on board at Aptos Labs as a strategic adviser.

Mo Shaikh, co-founder and Aptos Labs CEO, has announced his resignation from the company. Shaikh will step down as CEO but will continue as a strategic advisor.

Aptos Labs co-founder and CTO Avery Ching will assume the CEO position to helm the firm's upcoming growth phase.

Mo Shaikh, the co-creator of Aptos, is leaving his CEO post at Aptos Labs. Fellow company co-founder Avery Ching will step in.

The Aptos co-founder is sticking around as a strategic adviser, though.

The crypto market took a battering after Fed Chair Powell's speech at the FOMC meeting on Wednesday. However, Thursday has dawned brightly for the crypto market and a bounce is under way.

Aptos (APT) has shown impressive recovery in recent days, following a dip earlier in December. After finding solid support at the $10.26 level, APT's price has surged above $14, and there are growing expectations that it could continue its upward trajectory, potentially reaching as high as $19.

Tomarket has announced a significant change in its token launch strategy just days before the scheduled debut of its TOMA token.

Aptos ranked as the second-fastest growing ecosystem with a 96% increase in developer activity between Q3 2023 and Q4 2024.

Aptos Foundation, a leading global blockchain entity, has announced the opening of its new office in the Abu Dhabi Global Market (ADGM), reinforcing the UAE's status as a hub for blockchain and Web3 innovation.

Key Points:

In a somewhat atypical development in the cryptosphere, on Thursday a clutch of coins and tokens surged in price while the leading one sagged on the day.