{"id":16907,"date":"2023-01-26T06:54:07","date_gmt":"2023-01-26T10:54:07","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=16907"},"modified":"2023-01-26T06:54:07","modified_gmt":"2023-01-26T10:54:07","slug":"aptos-apt-price-snowballs-147-as-on-chain-development-shoots-up","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/26\/aptos-apt-price-snowballs-147-as-on-chain-development-shoots-up\/","title":{"rendered":"Aptos (APT) Price Snowballs 147% As On-Chain Development Shoots Up"},"content":{"rendered":"

The Aptos Mainnet was only launched<\/a> in full back in October 2022 in the midst of last year\u2019s tumultuous bear market. Since then, the developmbnt team of Aptos has been busy. According to Santiment, development on-chain<\/a> has been nearly consistent even as it is a far cry from all-time-high levels.\u00a0<\/p>\n

Because of this, CoinGecko<\/a> 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.\u00a0<\/p>\n\n

According to recent news, the market might continue its bullish run as the derivatives market of Bitcoin sends buy signals to bulls.<\/p>\n

What\u2019s Going On In Aptos?<\/strong><\/h2>\n

The naming and identity arm of Aptos, Aptos Names<\/a>, has been on a roll lately as they make their smart contract code open source. According to the thread<\/a>, this would make the contracts much more secure as individuals can customize their contracts.\u00a0<\/p>\n

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.\u00a0<\/p>\n\n

PancakeSwap also continued<\/a> 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.\u00a0<\/p>\n

Investors Should Watch These Levels<\/strong><\/h2>\n

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.\u00a0<\/p>\n

Since January 1st, Aptos found three price levels in case the token faces a strong rejection in the coming days or weeks. <\/p>\n

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.\u00a0<\/p>\n\n

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

At the time of writing, January 26th, long buyers outnumber<\/a> the short sellers by a very small margin.\u00a0<\/p>\n

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\u2019s market.\u00a0<\/p>\n

Watching the overall situation in the crypto market is also a must as market movements by major cryptos can have an effect on APT\u2019s price trajectory.\u00a0<\/p>\n

Featured image by New Scientist<\/em><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The Aptos Mainnet was only launched<\/a> in full back in October 2022 in the midst of last year\u2019s tumultuous bear market. Since then, the developmbnt team of Aptos has been busy. According to Santiment, development on-chain<\/a> has been nearly consistent even as it is a far cry from all-time-high levels.\u00a0<\/p>\n

Because of this, CoinGecko<\/a> 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.\u00a0<\/p>\n

According to recent news, the market might continue its bullish run as the derivatives market of Bitcoin sends buy signals to bulls.<\/p>\n

What\u2019s Going On In Aptos?<\/strong><\/h2>\n

The naming and identity arm of Aptos, Aptos Names<\/a>, has been on a roll lately as they make their smart contract code open source. According to the thread<\/a>, this would make the contracts much more secure as individuals can customize their contracts.\u00a0<\/p>\n

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.\u00a0<\/p>\n

PancakeSwap also continued<\/a> 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.\u00a0<\/p>\n

Investors Should Watch These Levels<\/strong><\/h2>\n

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.\u00a0<\/p>\n

Since January 1st, Aptos found three price levels in case the token faces a strong rejection in the coming days or weeks. <\/p>\n

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.\u00a0<\/p>\n

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

At the time of writing, January 26th, long buyers outnumber<\/a> the short sellers by a very small margin.\u00a0<\/p>\n

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\u2019s market.\u00a0<\/p>\n

Watching the overall situation in the crypto market is also a must as market movements by major cryptos can have an effect on APT\u2019s price trajectory.\u00a0<\/p>\n

Featured image by New Scientist<\/em><\/p>\n

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