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. Related Reading: Historical Data Sparks Excitement: VeChain Price Poised For A Bullish Breakout? 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. Related Reading: Bitcoin To $455,000: Expert Echoes Previous Halving Pattern 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 tokens price approached its all-time high (ATH) level of $19,92, reaching above $19. APT Eyes $20 Milestone Despite the recent price correction [...]

The post Aptos (APT) Surges 94% And Approaches All-Time Highs: Will It Break The $20 Barrier? appeared first on Crypto Breaking News.

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Aptos Market Cap Skyrockets, $574 Million Worth Of APT Tokens Set To Shake The Market In Q1 2024

Aptos (APT), a Layer-1 blockchain network, has shown significant growth in key metrics during the fourth quarter (Q4) of 2023, following the overall recovery of the crypto market. Furthermore, according to a recent report by Messari, Aptos experienced notable advancements in various aspects of its ecosystem. Inflation And Genesis Supply Unlocking The circulating market cap of APT witnessed a remarkable 126% quarter-on-quarter (QoQ) increase, reaching $2.9 billion. This growth surpassed that of similar market cap projects, leading to an improvement in APT’s market cap rank from 35 to 33 (currently 30). Although the price of APT did not rise as much as its market cap, it still recorded a solid 75% QoQ increase. Revenue generated by Aptos, represented by the fees collected through the protocol, also continued to grow in Q4 after recovering from lows in Q2. Denominated in APT, quarterly revenue grew by 10% QoQ, exceeding 46,000.  With the appreciation of APT’s price, revenue in USD experienced an even greater surge of 30% QoQ, totaling $345,000. Notably, there was a spike in daily revenue towards the end of December due to an inscription craze. Moreover, Aptos implemented an inflation model for APT, beginning at a 7% annualized rate and gradually decreasing by 1.5% each year until it reaches 3.5%. In mid-October, the inflation rate reduced to just under 6.9% as per the initial total supply of 1 billion APT.  Additionally, APT faced inflationary pressure from the unlocking of the genesis supply, which includes the initially allocated 1 billion APT tokens. By the end of Q4, over 23% of the genesis supply was distributed, marking a 30% QoQ increase. Related Reading: VeChain Rules Top 100 Crypto List With 67% Rally Ahead Of Major Announcement In Q1 of 2024, another 7.5% of the genesis supply is set to unlock, with 48% allocated to core contributors and 34% to private investors. This unlocking is expected to release $574 million worth of APT tokens, representing 20% of Q4’s circulating supply.  Additionally, $91 million worth of APT will unlock towards the Ecosystem category, although the immediate distribution of these tokens may not occur. It is important to note that, before distribution, 80% of these tokens are held by the Foundation, while 20% are held by Aptos Labs.  These tokens are intended for grants, incentives, and other initiatives. So far, slightly over 20 million APT from this allocation has been airdropped. Aptos Dip In Network Activity Network activity on the Aptos blockchain, as measured by transactions and active addresses, decreased slightly in the fourth quarter, but remained at elevated levels compared to the first half of 2023. Average daily transactions decreased 1% sequentially to 483,000, while average daily active addresses decreased 31% sequentially to 60,000. According to the report, the surge in network activity during Q3 was primarily driven by the integration of the social media platforms Chingari and Oracle Pyth with Aptos. In Q4, two notable events contributed to increased network usage: the Graffio communal art creation event in mid-October and inscriptions towards the end of December. However, the number of new addresses created per day decreased by 33% QoQ in Q4, following a significant increase of 419% in Q3. The weighted average one-month retention rate also fell by 41% QoQ to 5%, marking the lowest rates since December 2022 for the October and November 2023 cohorts. Related Reading: Investment Firm Forced To Sell XRP Worth $2.5 Million: Heres Why Looking ahead, Aptos has outlined key priorities for Q1 2024, which include further enhancing the stability and scalability of the network, expanding partnerships and integrations, and implementing new features and improvements based on community feedback.  Additionally, the upcoming unlocking of the genesis supply and the subsequent distribution of APT tokens will be a significant event to monitor, as it may impact the token’s price and overall market dynamics. APT is currently trading at $9.82, which corresponds to a price correction of 5.9% over the past 24 hours. Featured image from Shutterstock, chart from TradingView.com

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Aptos (APT) Succumbs To Bearish Pressure, Loses 10% In A Single Week

APT, the native cryptocurrency of the Aptos blockchain, continues to exhibit an underwhelming market performance in 2023. Following a somewhat positive run at the beginning of July, it seems the bears are back in control, with APT’s value dipping by nearly 10% in the last seven days. This has pretty much been the case for the APT token since the end of January as its price has declined steadily since reaching its all-time high of $18.58 on January 26. APT Falls By 14% In One Week – Price Overview  The Aptos token made a bright start to July, gaining more than 13% in a few days. However, the prominent altcoin has shed all its recent gains, now trading below the month’s opening price of $7.29. Related Reading: Dogecoin (DOGE) Price Downtrend Set To Persist – What To Expect After reaching a high of $8.24 on July 4, the Aptos token experienced a significant decline, bringing its value to $7.15 two days later.  Since then, it appears that the coin’s price has been moving mostly sideways. But it is worth noting that APT fell below the $7 price level for the first time this month on July 8. The token dropped below this level again on July 10 before climbing back to $7.18 the following day. As of this writing, APT is valued at $7.03, with a mere 0.3% gain in the past 24 hours. According to CoinGecko data, the coin has a market capitalization of over $1.48 billion, making it the 36th-biggest cryptocurrency. The Aptos token has a 24-hour trading volume of roughly $48.9 million, representing a 14.6% decline in the past day. Is The Downward Trend Over? A look at the daily chart shows that the APT token faces significant resistance at the $8 price zone. The token’s price has failed to break through this level twice in the past three weeks, falling back to $7 at each instance.  That said, the daily Relative Strength Index (RSI) indicates that the selling pressure is high at the moment, having crossed below the 50 mark. This means there may not be sufficient buying pressure to push the token’s price above the $8 resistance. Related Reading: Standard Chartered Raises Bitcoin Forecast To $120,000, Citing Miners’ Reduced Selling Meanwhile, price action data reveals that APT has been stuck in a downtrend channel since the high of $16.22 made on February 16, 2023. Over the past five months, Aptos has failed to record a higher high, while writing three lower lows. If Aptos continues in its descending trend channel, we might see its price fall below $4. On the flip side, if it manages to break out of the downtrend channel and through the $8 resistance, then cryptocurrency might reach a price of $10. APT price in a descending trend channel since February | Source: APTUSD chart from TradingView Featured image from iStock, chart from TradingView

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Aptos Following SUIs Lead? Analyst Says APTs Explosive Breakout Targets $20

Aptos (APT) recorded a 37.6% surge in the last two weeks, reclaiming its Q1 levels. According to some market watchers, the cryptocurrencys recent performance follows SUIs lead, which has set the stage for a massive rally toward a new all-time high (ATH) in the coming weeks. Related Reading: Bitcoin Parabolic Phase Just Begun, Is BTC Hitting $100,000 This Week? Aptos To Follow SUI Steps Aptos has recorded a remarkable performance amid the markets rally. Following the US presidential elections, the cryptocurrency has climbed from the $7.8 mark to reclaim the $11 support zone for the first time since late April. According to some crypto analysts, APTs chart displays a similar trajectory to SUIs. Analyst Alex Clay pointed out APTs performance is following SUI steps perfectly, suggesting that a breakout might be coming soon. Per Clays post, Aptoss chart displays the same price action as SUI, starting with a decline from its 2023 highs followed by a rise toward Marchs highs. After Q1s performance, the cryptocurrencies retraced over 70%, making a higher low (HL) from last years bottom and rising near March highs. However, SUI took the lead and is currently in its price discovery mode after surpassing its March ATH a month ago. In the last month, the token surpassed its previous high several times, setting its latest ATH of $3.92 two days ago. Based on this, the analyst suggests that investors should wait for APT to breakout and price discovery. Another market watcher previously noted that SUI and APT were moving in a catch-up trade path for the last year. The trader explained that the cryptocurrencies followed a similar path before SUI decoupled twice. Following SUIs takeoff, APT experienced an over 40-day lagging period before resuming its run. At the time of the report, Aptos was two weeks away from catching up on SUI, which now coincided with the post-election run. An SUI-like breakout could see APT surpass the $18 mark and soar toward a price discovery zone above the $20 range. APT Eyes $20 Target Crypto analyst Quinten highlighted APTs recent performance, asserting that it is reclaiming its dominance, printing consistent higher highs and higher lows. He also noted that the tokens chart shows strong accumulation leading up to this explosive breakout. Last week, the token soared over 40% toward its monthly high of $13.3, a level not seen in seven months. Since then, the cryptocurrency has moved sideways, consolidating between the $11.5-$12.6 price range, briefly losing the lower range when Bitcoin (BTC) retraced toward $87,000. Related Reading: Crypto Analyst Warns of Potential Bitcoin Market Shift as Exchange Reserves Decline The $11 mark was a significant resistance throughout Q3, with APT being rejected from this range several times. However, the token has successfully held above this level for seven days. As a result, the analyst believes the current momentum could send Aptos to a new ATH, as the next big psychological and technical target is at the $20 mark. At the time of writing, APT is trading at $11.79, a 2.2% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

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Aptos (APT) Jumps 11% Following Acquisition Of Japanese Blockchain Developer HashPallette

Aptos (APT) soared over 10% in the last 24 hours following Aptos Labs acquisition of HashPallete. The token is leading the market after becoming the largest gainer among the top 100 cryptocurrencies by market capitalization. Related Reading: Bonk In Prime Position For Turbo Green Week As Price Recovers Key Level Aptos To Expand Its Presence In Asia On Thursday, Aptos Labs, the developer of the Aptos network, announced it had agreed to acquire the Japanese Blockchain developer HashPallete, the company behind Japans Palette Chain and a subsidiary of HashPort Inc. The agreement aims to become a game changer for Japan and the Aptos ecosystem as the integration with the Japanese blockchain is set to strengthen its presence in the Asian market: Japan has long been a hub of technological innovation, and its no different when it comes to blockchain. The countrys unique blend of advanced tech and widespread blockchain adoption makes it a model for Web3 initiatives globally. Today, were making one of our boldest strategic moves into this market with our agreement to acquire HashPalette Inc. As part of the acquisition, HashPort Inc. will migrate the Pallete Chain and its subsidiarys applications to the Aptos Network. The Japanese chain will also have access to the Aptos ecosystems security, scalability, and developer tools. The migration is expected to be completed by early 2025, in time for the EXPO2025 DIGITAL WALLET. Moreover, Aptos Labs partnered with HashPort to support local developers, NFT creators, and enterprises by continuing to build blockchain solutions () using Aptos Networks infrastructure. APT Leads The Crypto Market Following the announcement, APTs price saw a daily 11% surge, jumping to the $8.66 resistance level before retracing to the $8.51 mark. This performance crowned the token as the leading crypto amid the market retrace. APT is among the few cryptocurrencies recording green numbers in most timeframes among the top 100 tokens by market cap. The altcoin registers a 7.5% and a 41% increase in the weekly and monthly timeframes. Additionally, its daily market volume soared 41.7%, reaching a $769.6 million trading volume in the last 24 hours. The tokens performance was highlighted by several crypto analysts, who considered that APT has the most interesting chart at the moment. According to Yuriy from BikoTrading, the cryptocurrency looks strong as the rising trading volume and the price performance signs for continued growth. The trader noted that APTs price held above the key resistance zone amid the market retrace, which sent the token above Q3s range highs. Similarly, crypto trader Osbrah stated that APT has been secretly climbing its way to the most interesting alts charts. He pointed out that, after October 1s market sweep, the token had a clean bullish retest above the $8 mark. To the trader, the next big resistance is at the $9 mark, which could send APTs price to the $7.95 support zone if it fails to reclaim it. Meanwhile, another market watcher suggested that the altcoins performance could be close to a breakout. Related Reading: Analysts Unfazed By Bitcoin (BTC) Drop, But Should We Fear October 5? Per the post, SUI and APT moved in a catch-up trade path for the past year, moving closely together until SUI decoupled in early 2024. This led to a 44-day lagging period for APT before it followed SUIs movements. After that, APT rose 98% to its yearly high of $18.8 in mid-March. Now, APT has seen a 32-day lagging period after SUI decoupled again in September, showing incredible amounts of strength. Based on this, the analyst suggests that the cryptocurrency could follow SUIs trajectory and kickstart a massive rally in the next two weeks if history repeats. Featured Image from Unsplash.com, Chart from TradingView.com

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Heres How Aptos Price Could Slide Further Down Toward $4.3

Investor confidence in the altcoin market appears to be in a slump lately, and the Aptos price performance succinctly reflects this sentiment. The APT token has struggled to achieve any sustained upward momentum since the turn of the new year. After making a play above $10 in early January, the Aptos price has been in steady decline, falling to around $8 in the past week. Unfortunately, these performance woes for the APT token seem far from over, with the possibility of an even deeper correction on the cards. The Reasoning Behind APT’s Potential 50% Correction In a new post on the X platform, prominent crypto analyst Ali Martinez shared a worrying prediction for the price of Aptos over the next few weeks. According to the popular trader, the altcoin is currently in a bearish setup, putting its price at risk of a severe correction. Related Reading: SUI Inches Closer To $3.9 Support Under Growing Bearish Influence The rationale behind this bearish forecast is the formation of the head-and-shoulders pattern on the Aptos 12-hour chart. The head-and-shoulders formation is a pattern used in technical price analysis marked by three price highs, including a higher head set between two lower shoulders. This chart formation usually signals a potential bearish reversal, indicating a possible shift from an upward price trend to a downtrend. This setup can be confirmed when the asset’s price breaks below the neckline, a trendline connecting the troughs (swing lows) between the head. As highlighted in the chart above, the Aptos price has already established the right shoulder following rejection around the $10.5 mark. After testing the neckline set around the $8 mark in mid-January, the price of APT bounced back toward $9.5. However, the price of Aptos seems to be approaching the neckline again. While there is no certainty that the neckline will give way this time, it is worth noting that the more times a price level is tested, the more it is likely to get breached. According to Martinez, if the Aptos price successfully breaks and closes beneath the $8 mark, the altcoin could be at risk of a significant drop to $4.30. This would represent a nearly 50% decline from the current price point. However, Martinez provided an alternative scenario for the price of Aptos. According to the crypto analyst, a sustained close above the right shoulder at $10.50 could be needed to invalidate the bearish outlook. Aptos Price At A Glance As of this writing, the APT token is valued at around $8.13, reflecting an almost 2% decline in the past 24 hours. According to CoinGecko data, the price of Aptos is down by more than 11% in the past week. Related Reading: Is Toncoin Price Gearing For A Rebound At $5? This On-Chain Metric Suggests So Featured image from iStock, chart from TradingView

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