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Aptos Posts Triple-Digit Gains In Key Metrics, Yet APT Price Struggles At $8.40

According to a report by Messari, Layer 1 (L1) blockchain Aptos experienced substantial gains in key metrics during the first quarter (Q1) of the year. The growth was driven by the surge in Bitcoin prices to new record highs and increased capital inflow in the market. 

However, Aptos’ native token, APT, has struggled with price performance, recording modest gains compared to other top cryptocurrencies.

Aptos Network Activity Surges

The report highlighted that Aptos’ circulating market cap increased 127% quarter-on-quarter (QoQ) to $6.6 billion.

This growth outpaced other projects with similar market caps, improving market cap rank from 33 to 22. Despite this growth, APT’s price experienced a more modest increase of 76% QoQ. 

Aptos

Aptos revenue, which encompasses all fees collected by the protocol, grew by 37% to $475,000. However, when denominated in APT, the revenue decreased by 10%. All revenue generated by Aptos is burned, but these burned tokens have not significantly reduced inflation. 

APT inflation started at a 7% annualized rate and is set to decrease by 1.5% each year until it reaches 3.5%. By mid-October, the inflation rate had reduced to just under 6.9%. Additionally, there was inflationary pressure from the genesis supply unlocks, with almost 31% of the genesis supply distributed by the end of Q1.

Looking at network activity, Aptos witnessed a significant increase in transactions and active addresses in Q1. Average daily transactions and addresses saw 66% and 97% QoQ growth rates, respectively. 

Despite the increased transaction activity, the average transaction fee decreased by 45% QoQ to 0.0006 APT ($0.007). Furthermore, average daily new addresses grew by 91% QoQ to 44,000, and the weighted average one-month retention rate increased by 82% QoQ to 14%.

APT Staked Tokens Decrease 5%

Regarding staking, APT staked decreased by 5% to 861 million tokens. However, when denominated in USD, the staked market cap grew by 68% QoQ, surpassing $14 billion. 

Aptos

As seen in the chart above, Aptos also experienced growth in its decentralized finance (DeFi) total value locked (TVL), which increased by 376% QoQ to $573 million.

According to Messari, this increase was not solely due to APT price appreciation; TVL also grew by 170% QoQ in APT terms. Additionally, Aptos’s stablecoin market cap nearly doubled QoQ, reaching $97 million.

APT Struggles To Break $8.80 Resistance

Despite these positive developments, APT’s price performance has faced challenges. The native token has declined over 16% in the past month, resulting in a modest 2.7% surge year-to-date. This contrasts with the double or triple-digit gains seen by other top cryptocurrencies.

Aptos

Currently trading at $8.46, APT has struggled to surpass its nearest resistance wall at $8.80, leading to a consolidation phase between $8.20 and $8.70 over the past month. 

Featured image from Shutterstock, chart from TradingView.com 

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Aptos Labs Teams Up With Microsoft, SK Telecom For New Institutional Platform, APT Soars 3%

In a notable collaboration, Aptos Labs, the developer of the Aptos (APT) Layer-1 (L1) blockchain, announced a partnership with tech giants Microsoft, Brevan Howard, and South Korean telecommunications company SK Telecom for a new decentralized finance (DeFi) platform.

Aptos Labs Unveils Aptos Ascend

The announcement, made on Thursday, revealed that Aptos Labs is launching Aptos Ascend, which will leverage the technologies of cloud computing platform Microsoft Azure, Azure OpenAI service, and SK Telecom while benefiting from the expertise of Brevan Howard and Boston Consulting Group (BCG) to provide digital currency and asset management services to its user base. 

This partnership effort aims to set new benchmarks for secure and scalable financial solutions built on the Aptos blockchain, specifically through the launch of Aptos Ascend.

Aptos Ascend introduces advanced Digital Asset Controls designed to provide precision and adaptability in asset management.

Key features include customizable tokens tailored to specific financial requirements, access control limited to approved transactions and participants, and increased confidentiality through Zero-Knowledge Proofs (ZKP) that ensure compliant transaction details remain secure.

Furthermore, Aptos Ascend’s Network Controls empower financial institutions to upgrade their infrastructure and address future financial challenges.

This is achieved through customizable solutions that allow adaptation of network settings to meet regulatory requirements, implementation of multi-signature protocols for improved security, and maintenance of transparency through comprehensive audit trails.

Convergence Of AI And Blockchain

Mo Shaikh, Co-founder and CEO of Aptos Labs, believes the project will “unlock the on-chain potential that financial institutions have been eagerly awaiting.” 

Shaikh emphasized that this collaboration signifies the beginning of a ‘financial revolution” and expressed excitement about the future pioneers who will leverage the capabilities of the Aptos Ascend suite.

In August 2023, Aptos Labs had already announced their utilization of Microsoft’s infrastructure to deploy new offerings that combine artificial intelligence (AI) and blockchain technology.

Among these offerings was Aptos Assistant, a chatbot that provides increased user experiences. Shaikh highlighted the convergence of AI and blockchain as “transformative forces” that shape the internet and society and emphasized the shared vision of Aptos Labs and Microsoft to make this technology accessible to a wider audience.

APT Breaks Month-Long Downtrend

Following the collaboration and the introduction of the new platform, APT has experienced a significant breakthrough in its month-long downtrend, which amounted to a decline of over 40%. The unlock event of a substantial portion of APT tokens primarily drove this decline.

Before the unlock event on April 12, APT had already witnessed a price drop of nearly 16%. In this event, $141 million worth of tokens were distributed, with $100 million allocated to investors, $38 million among community members, and $16 million earmarked for the ecosystem development foundation. The released APT tokens account for 6% of the current circulating supply.

Aptos

Currently, APT is trading at $9.54, recording a surge of 6% concurrent with the collaboration unveiling.  Moreover, according to data from CoinGecko, the token’s trading volume has experienced a remarkable increase, reaching $238 million, reflecting a 46% surge compared to the trading volume on Wednesday.

Featured image from Shutterstock, chart from TradingView.com

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Aptos (APT) Surges 94% And Approaches All-Time Highs: Will It Break The $20 Barrier?

Layer 1 (L1) blockchain platform Aptos has experienced a significant surge in key metrics, accompanied by a 12% price rally of its native token APT within the past 24 hours. On Tuesday, the token’s price approached its all-time high (ATH) level of $19,92, reaching above $19.

APT Eyes $20 Milestone

Despite the recent price correction across the broader cryptocurrency market, Aptos’ APT token has been on an impressive uptrend since early March. Over the past 30 days, the token has surged by more than 94%, showcasing its strong performance.

Aptos has also gained recognition in crypto, climbing to the 23rd position among the largest cryptocurrencies by market capitalization. Currently valued at $7.3 billion, the token has experienced a substantial increase from the $4 billion recorded at the beginning of the month. 

The trading volume of Aptos (APT) has seen a significant surge, reaching $542,531,437 in the last 24 hours, a notable 90.70% increase from the previous day, according to CoinGecko data.

Aptos

Analyzing the daily APT/USD chart, no significant resistance levels are observed, indicating that reaching the $20 milestone may be within reach, which would mark a new all-time high for the token. 

The sustainability of the bullish momentum and the ability of investors to hold on to their gains will play a key role in determining the coin’s future performance. Nevertheless, a possible retest of the next support level at $17.36 cannot be ruled out in the event of profit-taking and selling pressure.

If the $17.36 support level fails to hold, the next significant support level for APT is at $16.31. However, it is important to note that APT’s bullish structure remains intact as long as the $12.14 support level remains unbroken, suggesting that the bulls currently have the upper hand as long as a sharp 30% decline does not occur.

Aptos Attracts 11 Million Tokenholders In 30 Days

Coupled with the increase in the price of its native token, Aptos has seen significant growth in key metrics over the past 30 days. According to Token Terminal data, token holders have grown significantly, increasing by 3.4% to 11.79 million individuals over the past 30 days. 

Aptos

In terms of fees generated, Aptos has seen a notable uptick. Over the past 30 days, fees generated were $209.16 thousand, representing a growth rate of 87.8%. Annualized fees reached $2.54 million, a slight increase of 0.2%.

In a longer time frame, the Aptos token’s trading volume has experienced significant expansion, reaching $10.82 billion over the past 30 days, indicating a significant increase of 178.2%. 

Featured image from Shutterstock, chart from TradingView.com

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Almost $1B In Altcoins Set To Flood The Market This February: Here Are The Key Ones

February 2024 is a pivotal month, with nearly $1 billion in altcoins set to unlock. This phenomenon, crucial for investors and newcomers alike, signifies the release of previously restricted altcoins into the market, influencing supply and demand dynamics.

Alex Wacy, a renowned decentralized finance (DeFi) research specialist, has highlighted this significant event, emphasizing its impact on some of the notable altcoins among this February unlock.

Altcoins Unleash: The February Token Unlocks

February’s token unlocks encompass a diverse range of projects. Key players such as Aptos (APT), Immutable (IMX), Sui (SUI), Sei Network (SEI), and Oasis Network (ROSE) are at the forefront of this movement.

SUI token unlock.

Aptos is set for a substantial release on February 12, with roughly $230 million worth of tokens poised for circulation. Despite previous unlocks, APT’s price has remained relatively stable.

Aptos (APT) token unlock.

Similarly, IMX and SUI are preparing for significant unlocks on February 23 and February 3, respectively. IMX’s unlock is valued at around $70 million, while SUI’s, worth $100 million, is particularly noteworthy as it marks its inaugural annual unlock.

SEI and ROSE are also partaking in February’s unlock, with SEI releasing $85 million worth of tokens on February 15 and ROSE’s $19 million unlock scheduled for February 18. These events come when both projects have shown modest gains in the market.

Market Performance Analysis Of Unlocked Tokens

Amid the anticipation of these altcoins unlock, SUI, IMX, and Aptos have experienced notable surges in their values, increasing by 27.3%, 10.6%, and 9.7%, respectively, over the past week. However, the last 24 hours have seen varied movements, with SUI facing a 6.4% decline, Aptos slightly up by 0.7%, and IMX reducing by a mere 0.1%.

SEI and ROSE, on the other hand, have witnessed less dramatic shifts. SEI saw a 6.4% increase over the week, while ROSE gained 5.4%. However, their 24-hour performance has diverged, with SEI dropping nearly 10% and ROSE decreasing by a marginal 0.2%.

These market performances reflect the broader crypto market trajectory, which has recently seen a 1.7% decline in the overall market cap, now at $1.72 trillion.

The global crypto market cap value on TradingView amid impending altcoins unlock

This decline is led by crypto giants Bitcoin and Ethereum, which have experienced a 1.7% and 1.8% decline in their market caps over the past 24 hours. To put this into perspective, Bitcoin’s overall market cap has dropped approximately $15 billion in the past day, falling from $856 billion yesterday to $841 billion today.

Similarly, Ethereum’s market cap has decreased by nearly $6 billion over the same period, moving from $282 billion yesterday to $276 billion today.

Featured image from Unsplash, Chart from TradingView

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Aptos TVL Soars To A Record $74 Million, Reflecting Growing Investor Confidence

Since the second week of October, there was a noticeable surge in demand for Aptos’ native cryptocurrency APT. This increased interest led to a robust phase of Total Value Locked (TVL) growth.

Ultimately, this surge in demand for APT resulted in Aptos achieving its highest-ever TVL value of $74 million during the trading session on Thursday, October 26th.

This surge in TVL is a crucial metric for decentralized finance (DeFi) platforms, showcasing the total value of assets, tokens, or cryptocurrencies locked within the platform’s smart contracts.

Aptos TVL. Source: DefiLlama

Aptos Surges Amidst Rising Investor Confidence

The increase in demand for Aptos’ native cryptocurrency, APT, further demonstrates growing investor confidence and interest in the platform’s utility, potentially indicating an expanded user base or enhanced use case scenarios within the Aptos ecosystem.

At the time of writing, APT was trading at $6.69, up 4.5% in the last 24 hours, and etching a notable 31.5% increase in the last seven days, according to figures by crypto market tracker Coingecko.

This rally can be partially due to Aptos’ distinct position as a proof-of-stake blockchain that uses a cutting-edge smart contract programming language, to facilitate quicker and less expensive transactions on its network.

For this reason, a lot of cryptocurrency fans frequently associate Aptos with certain decentralized Web3 applications, with a focus on the domain of non-fungible tokens (NFTs).

AptosOne recently launched Graffio, an NFT-based art display platform. This tool simplifies NFT art creation, with standout features including waived gas fees for social media logins and the creation of an exclusive Graffio wallet.

APT Price On Bullish Run With 24% Gain 

The announcement led to a surge in Aptos (APT) price from $4.88 to $6.03 between October 20 and 23, a nearly 24% increase, prompting experts to predict a bullish trend continuing to $7.20 around end of next month.

Its current value of $6.69 reflects a notable climb of 36% since mid-October, demonstrating a robust upward trend. The increase in price underscores the promising prospects for the future of Aptos and its indigenous digital currency, APT.

As Aptos achieves its all-time high in Total Value Locked (TVL), the soaring trajectory of APT’s price and the platform’s advancements in NFT technology have sparked significant optimism.

The recent market surge and robust momentum hint at the potential for sustained growth and increased interest in APT. Despite concerns looming over a possible market retraction, the record-breaking TVL and the remarkable rise in APT’s value prompt a hopeful outlook, suggesting that Aptos and its native token may be well-positioned to weather potential market fluctuations and maintain their upward trajectory in the near future.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Shutterstock

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Aptos (APT) Volume Remains Extremely High, More Gains Ahead?

On-chain data shows the Aptos (APT) trading volume has continued to be extremely high after the rally, a possible sign that more gains may be coming.

Aptos Social Dominance Calms Down, But Trading Volume Remains Elevated

Yesterday, news came out that tech giant Microsoft has partnered up with Aptos Labs to work on blockchain-based AI tools. This big announcement naturally caused a reaction in the market, as the company’s token, APT, observed a very sharp 17% jump.

The token had neared the $8 level at the peak of this surge, but since then, it has observed some decline and has retreated towards the $7.3 mark. The below chart displays how the asset’s price has changed recently.

Aptos (APT) Price Chart

Despite the pullback, though, Aptos is still carrying gains of around 9%. These profits make it by far the best performer among at least the top 100 assets by market cap.

As for why the retrace may have occurred, data from the on-chain analytics firm Santiment could provide some hints. As displayed in the below graph, the social dominance of APT had observed a very large spike as the rally had taken place.

Aptos (APT) Metrics

The “social dominance” basically tells us how much discussion related to the top 100 assets on social media is coming from talks related to Aptos alone. When the news had broken out, social media discussion around the coin had naturally blown up, as a large number of users had become interested in the asset.

While such excitement can help fuel a rally, too much of it can actually have the opposite effect. It would appear that the FOMO spiking in the market is what contributed to the rally topping out and the price decline.

Since then, though, the social dominance has calmed down a bit, implying that hype has returned to healthier levels. At the same time, the APT trading volume (that is, the measure of the total number of tokens being moved around on the blockchain) has only gone up and has hit its highest point since March.

This implies that investors have only continued to trade more of the cryptocurrency even after the rally’s pullback. Generally, a high amount of volume is needed to sustain any significant move in the price, as such moves require a large amount of fuel. Since the trading volume has only been growing, it can be one of the first hints that the Aptos rally isn’t over just yet.

In the chart, Santiment has also attached the data for another indicator, the development activity. This metric keeps track of the work that the developers have been doing on the project’s public GitHub repositories.

From the graph, it’s visible that this metric had been constantly rising in the buildup to the announcement as the developers may have been preparing for the partnership.

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All Smoke And Mirrors? Why The Aptos-Microsoft Deal Is A Reason To Short APT

Aptos (APT) has scored a major deal with tech giant Microsoft yesterday. However, the announcement of a “partnership” between Aptos Labs and tech giant Microsoft has raised eyebrows and ignited debates across the crypto community if this is just smoke and mirrors. With the APT token witnessing a surge of nearly 20% following the news, and a significant token unlock looming, the timing and nature of this partnership have come under scrutiny.

Aptos-Microsoft Deal Just A Click?

In the official press release, Aptos Labs revealed its plans to integrate Microsoft’s artificial intelligence (AI) technology. The collaboration aims to introduce a range of tools and services, including the Aptos Assistant chatbot, powered by Microsoft’s Azure OpenAI Service. The chatbot is designed to assist users with queries about the Aptos ecosystem and offer resources to developers crafting smart contracts and decentralized applications.

CEO Mo Shaikh commented on the convergence of AI and blockchain, stating, “Artificial intelligence and blockchain technologies are quickly converging for one important reason: They are both generational breakthroughs that profoundly impact the evolution of the internet and shape society.”

However, the partnership’s announcement has not been without its critics. Renowned crypto analyst @DefiSquared, known for being the top-ranked trader on Bybit, took to Twitter to express his skepticism. He pointed out, “lmao what. Did you guys really just pump Aptos 15% on the “news” that it’s paying to use Microsoft Azure services? Seems like an obvious short on a chain that yes, still has no users and an $8 bil valuation with an infinite token supply and 100% annual emissions.”

@DefiSquared further highlighted the timing of the news, just two days (on Friday) before more than 4.5 million APT tokens (2% of the circulating supply) will be unlocked, suggesting potential ulterior motives. He also shared a screenshot from Microsoft’s website, indicating the ease with which entities can join the Microsoft AI Cloud partner program, sarcastically remarking, “Aptos really clicked ‘Enroll at no cost and become a partner today’ and added a billion dollars to their market cap. Who knew it was that easy?”

While the partnership promises to explore blockchain-based financial services, including asset tokenization and central bank digital currencies, the specifics remain vague. Aptos’ representative emphasized the collaborative nature of the partnership, stating, “This is a collaboration from day one. Aptos Labs’ team of AI experts, Ph.Ds, and Web3 developers are working directly with Microsoft’s AI team to train models, integrate AI technology into the Aptos Assistant and GitHub elements integrating with Aptos’ blockchain.”

APT Price Analysis

As the crypto community continues to dissect the nuances of this partnership, the question remains: Is this a genuine stride forward for Aptos, or a well-timed PR move to buoy token prices ahead of a significant unlock for venture capitalists (VCs)? Only time will tell.

At press time, the APT price stood at $7.27. Thus, APT failed to post a higher high. The price has already bounced downwards off the resistance at $7.98 and also ahead of the 200-day EMA as well as the 23.6% Fibonacci retracement level.

Aptos APT price

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Aptos (APT) Price Snowballs 147% As On-Chain Development Shoots Up

The Aptos Mainnet was only launched in full back in October 2022 in the midst of last year’s tumultuous bear market. Since then, the developmbnt team of Aptos has been busy. According to Santiment, development on-chain has been nearly consistent even as it is a far cry from all-time-high levels. 

Because of this, CoinGecko noted a strong bullish push as the native token of Aptos, APT, soared 147% in the weekly time frame. Adding on to the bullishness is the current sentiment surrounding cryptocurrencies. 

According to recent news, the market might continue its bullish run as the derivatives market of Bitcoin sends buy signals to bulls.

What’s Going On In Aptos?

The naming and identity arm of Aptos, Aptos Names, has been on a roll lately as they make their smart contract code open source. According to the thread, this would make the contracts much more secure as individuals can customize their contracts. 

This would also make the code more decentralized, allowing the community to have more input and authority on what can be implemented in the future for Aptos Names. 

PancakeSwap also continued with its multi-chain deployment on Aptos. Since the proposal, the decentralized exchange has deployed over 14 farms on the blockchain with four APT pairs available. 

Investors Should Watch These Levels

The ongoing rally for APT is something the bulls relish on, making APT among the top gainers in almost all time frames, according to CoinGecko data. 

Since January 1st, Aptos found three price levels in case the token faces a strong rejection in the coming days or weeks.

As it currently stands, the rally is being supported at $12.32. If the token faces rejection, investors and traders can rely on this crucial support if the $16.01 support is broken. 

Right now, the token is able to reach these new highs as a result of on-chain developments that give investors confidence.

At the time of writing, January 26th, long buyers outnumber the short sellers by a very small margin. 

This may be a sign that investor confidence in the long-term prospect of the token is still optimistic. For now, investors and traders can cash in some gains to hedge against potential downturns in APT’s market. 

Watching the overall situation in the crypto market is also a must as market movements by major cryptos can have an effect on APT’s price trajectory. 

Featured image by New Scientist

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Aptos (APT) Gains 55% In 24 Hours, Maintaining Its Bullish Form For The Year

The crypto market has been remarkably bullish since the turn of the new year. In the last three weeks, several assets have experienced price rallies, like Bitcoin, which gained over 37% to trade above $21,000 for the first time in two months.

While that is an impressive feat, altcoins have been the real stars of the market, with many pulling off a stunning market performance. Aptos (APT), one of the trailblazing tokens of 2023, has just recorded a 54.73% gain in the last 24 hours based on data from CoinMarketCap.

APT has been one of the best-performing coins in 2023, gaining by over 248% since the start of the year. Although it is a relatively new token, Its price growth in 2023 outshines that of many market giants, including Ethereum (ETH), Solana (SOL), Ripple (XRP) and, of course – Bitcoin (BTC).

At the time of writing, Aptos (APT) is trading at a market price of $12.60. According to CoinMarketCap, the token’s daily trading volume has also gone up by 373.99%, attaining a value of $1.82 billion. 

Aptos

APT trading $12.64 | Source: APTUSD Chart on Tradingview.com

What Is Behind APT’s Rise?

Aptos was launched on October 22, 2023, making it one of the newest projects in the crypto space. On October 23, the APT token attained its ATH value of $10.25. However, APT began the new year trading at $3.43 due to the FTX crisis that occurred in November. 

That said, the dramatic rise in APT’s price so far can be attributed to many factors. One of which is growing support from various crypto projects. On January 6, PancakeSwap, the biggest DEX on the BNB Chain, announced its deployment on the Aptos blockchain following approval by its user community. 

The following week after this announcement, the price of APT surged by 97.6%, marking the beginning of APT’s price rally in 2023. During this period, Atomic Wallet, one of the top cold crypto wallets with over 3 million users, also announced they would be providing support for APT with immediate effect.

Another contributing factor to APT’s impressive price rally is the constant buzz around the project due to its origins stemming from the now-defunct Meta Diem blockchain initiative. 

Moreover, Aptos is designed with many intriguing features, including its unique programming language – Move – that makes many investors consider it as a blockchain with massive potential to become a major competitor to Ethereum, Solana, and other established smart contract-compatible platforms.

What To Expect From Aptos In 2023

The Aptos blockchain is definitely one to look out for in 2023. According to the project’s roadmap, the major focus of the developer’s team will be the implementation of demand-driven gas costs in a bid to drastically reduce the current gas fees on the network.

If successful, it is expected that such an upgrade could exert a positive effect on an APT token that is already soaring high in the clouds. However, it goes without saying that this is merely speculation and should not be relied upon in making investment decisions. 

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Bulls Against The Ropes, Why Aptos Is At Risk Of Crashing To $7

The cryptocurrency of the hour, Aptos (APT), is losing bullish momentum and heading for a correction. Dubbed a “Solana Killer,” the APT token was launched last week, attracting the attention of market participants. 

The hype around APT generated over $150 million in Open Interest, $3 billion in futures volume, and $1 billion in spot volume in less than a day. At the time of writing, Aptos trades at $8.70, with a 10% loss in the last 24 hours alone. 

Aptos Stepping Into The Danger Zone

As seen in the chart below, APT’s price hit an all-time high of $10.2 before crashing into its current levels. The cryptocurrency has been trading sideways in a tight channel over the past two days, but the price action hints at further downside pressure. 

Aptos APT APTUSDT Chart 1

APT’s price trends lower on the 4-hour chart. Source: APTUSDT Tradingview

According to a pseudonym analyst, Aptos sits at critical support north of $8.11. If the token fails to hold its current levels, the price might return to the pre-rally region. 

As seen in the chart below, this downside move could retrace APT’s price back to the $7 region. If that zone operates as support, the token might prevent more downside and follow the general sentiment in the market, which hints at bullish momentum. 

Otherwise, the next support area is around $6.7, possibly lowering its launch levels. The pseudonym analyst said the following about APT’s price action and the crypto market in general:

APT Bounce here, or it’s heading down to the green zone, I reckon (…) A lot of assets, including $BTC & $SPX, are breaking above the 4H 200MA & EMA’s. This tends to be a good indication of a low to mid timeframe reversal. Of course prices do have to hold these levels in case of a retest to confirm such a reversal.

Aptos APT APTUSDT Chart 2

APT’s price sits at the bottom of a channel. Will it bounce? Source: DaanCrypto
Can PancakeSwap Save APT’s Price?

Traders betting on further downside pressure should be wary; current support levels might hold solely on cryptocurrency-generated hype. In addition, the team behind PancakeSwap will launch this protocol on Aptos.  

The implementation will include PancakeSwap’s native token CAKE, with the potential to onboard its users. The team behind the crypto exchange said:

Aptos is the first blockchain which PancakeSwap will be fully integrated with. PancakeSwap will be deploying its CAKE token natively on Aptos along with its key products, making the CAKE token truly multichain for the first time (…). Additionally, Aptos and PancakeSwap users and projects will be able to enjoy all the core beloved products of PancakeSwap such as Swap, Farm, Pools and IFO.

It remains to be seen if this exchange implementation on Aptos will persuade PancakeSwap users to adopt the platform.

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TOP 5 Cryptos To Watch This Week – BNB, BTC, ETH, MATIC, APT

The crypto market looks much better ahead of the new week than in previous weeks, with Bitcoin (BTC) closing the week on a high and aiming to reclaim a key region of $20,000. Despite the uncertainty, some altcoins have continued to look green in the face of the bear market, with many exciting projects coming up and others gaining more attention in the crypto space due to the community and partnership deals. Let us discuss on top 5 cryptos you should pay attention to this week.

Disclaimer: The picks listed in this article should not be taken as investment advice. Always do your research and invest only what you can afford to lose.

Top 5 Cryptos- Bitcoin (BTC) Price Analysis On The Daily Chart
Daily BTC Price Chart | Source: BTCUSDT On Tradingview.com

From the chart, the price of BTC was rejected from $21,500 after facing an earlier rejection from a region of $25,000 as the price has struggled to show such bullish strength as price rallied from a weekly low of $18,500.

BTC is currently trading at $19,400 at the point of writing this article. The price of BTC has shown great strength as bulls defended the price from losing the key support zone at $18,500; if BTC’s price loses this key support, we could see the price going down lower and panic setting into the market.

The price of BTC closed the week with a good candle above $19,500 after a long time which signifies a good sign, and possible relief would be on the horizon as we head into the monthly close for BTC price. 

BTC needs to reclaim $20,500 for more relief rallies; if the price of BTC fails to reclaim this region, we could see more of a dead cat bounce.

Price Analysis Of Ethereum (ETH) On The Daily (1D) Chart
Daily ETH Price Chart | Source: ETHUSDT On Tradingview.com

Life after “Ethereum Merge” hasn’t been what everyone expected as the price of ETH has lost a huge percentage of the rally price made, from a weekly low of $900 to a high of $2,030.

ETH price was rejected from $1,650 with what seems to be a resistance for ETH price to trend higher. The price saw a sell-off to a region of $1,260, which formed strong support to prevent the price from going lower. 

With the current market looking promising ahead of the monthly close, we could see ETH price retesting $1,450 as a key resistance region.

Price Analysis Of Binance Coin (BNB) On The Daily (1D) Chart
Daily BNB Price Chart | Source: BNBUSDT On Tradingview.com

The price of BNB was rejected from its resistance of $300 and is currently trading at $270.

BNB has tried to hold its key support zone as the price lost this zone to a region of $265, but the price quickly bounced to reclaim the region of $270. The price of BNB needs to rally away from its key support; if the price of BNB breaks and closes below this $270, we could see BNB struggling to trade above $250.

Price Analysis Of Polygon (MATIC) On The Daily (1D) Chart
Daily MATIC Price Chart | Source: MATICUSDT On Tradingview.com

The price of MATIC has continued to show bullish trends holding well above the 50 EMA after breaking out of a descending triangle as the price aims to break and close above $0.91. 

If the price of MATIC breaks and closes above $0.91, we could see a price attempt to breach $1; if the price of MATIC fails, a retest of $0.77 support would be on the table as this has proven to be a key support for MATIC price.

Top 5 Cryptos –Price Analysis Of Aptos (APT) On The Hour (1H) Chart
Hourly APT Price Chart | Source: APTUSDT On Tradingview.com

APT has formed a bullish pattern with its release on major platforms, including Binance, as this coin has continued to ring in the ears of many traders. 

The price of APT rallied from a low of $7 on its launch to a high of $10.2 as the price faced resistance in the 1H timeframe. With the hype of APT being sustained, we could see the price increase.

Featured image from NBTC, Charts from TradingView.com

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TOP 5 Cryptos To Watch This Week – BNB, BTC, ETH, MATIC, APT

The crypto market looks much better ahead of the new week than in previous weeks, with Bitcoin (BTC) closing the week on a high and aiming to reclaim a key region of $20,000. Despite the uncertainty, some altcoins have continued to look green in the face of the bear market, with many exciting projects coming up and others gaining more attention in the crypto space due to the community and partnership deals. Let us discuss on top 5 cryptos you should pay attention to this week.

Disclaimer: The picks listed in this article should not be taken as investment advice. Always do your research and invest only what you can afford to lose.

Top 5 Cryptos- Bitcoin (BTC) Price Analysis On The Daily Chart
Daily BTC Price Chart | Source: BTCUSDT On Tradingview.com

From the chart, the price of BTC was rejected from $21,500 after facing an earlier rejection from a region of $25,000 as the price has struggled to show such bullish strength as price rallied from a weekly low of $18,500.

BTC is currently trading at $19,400 at the point of writing this article. The price of BTC has shown great strength as bulls defended the price from losing the key support zone at $18,500; if BTC’s price loses this key support, we could see the price going down lower and panic setting into the market.

The price of BTC closed the week with a good candle above $19,500 after a long time which signifies a good sign, and possible relief would be on the horizon as we head into the monthly close for BTC price. 

BTC needs to reclaim $20,500 for more relief rallies; if the price of BTC fails to reclaim this region, we could see more of a dead cat bounce.

Price Analysis Of Ethereum (ETH) On The Daily (1D) Chart
Daily ETH Price Chart | Source: ETHUSDT On Tradingview.com

Life after “Ethereum Merge” hasn’t been what everyone expected as the price of ETH has lost a huge percentage of the rally price made, from a weekly low of $900 to a high of $2,030.

ETH price was rejected from $1,650 with what seems to be a resistance for ETH price to trend higher. The price saw a sell-off to a region of $1,260, which formed strong support to prevent the price from going lower. 

With the current market looking promising ahead of the monthly close, we could see ETH price retesting $1,450 as a key resistance region.

Price Analysis Of Binance Coin (BNB) On The Daily (1D) Chart
Daily BNB Price Chart | Source: BNBUSDT On Tradingview.com

The price of BNB was rejected from its resistance of $300 and is currently trading at $270.

BNB has tried to hold its key support zone as the price lost this zone to a region of $265, but the price quickly bounced to reclaim the region of $270. The price of BNB needs to rally away from its key support; if the price of BNB breaks and closes below this $270, we could see BNB struggling to trade above $250.

Price Analysis Of Polygon (MATIC) On The Daily (1D) Chart
Daily MATIC Price Chart | Source: MATICUSDT On Tradingview.com

The price of MATIC has continued to show bullish trends holding well above the 50 EMA after breaking out of a descending triangle as the price aims to break and close above $0.91. 

If the price of MATIC breaks and closes above $0.91, we could see a price attempt to breach $1; if the price of MATIC fails, a retest of $0.77 support would be on the table as this has proven to be a key support for MATIC price.

Top 5 Cryptos –Price Analysis Of Aptos (APT) On The Hour (1H) Chart
Hourly APT Price Chart | Source: APTUSDT On Tradingview.com

APT has formed a bullish pattern with its release on major platforms, including Binance, as this coin has continued to ring in the ears of many traders. 

The price of APT rallied from a low of $7 on its launch to a high of $10.2 as the price faced resistance in the 1H timeframe. With the hype of APT being sustained, we could see the price increase.

Featured image from NBTC, Charts from TradingView.com