Aptos (APT) Token Surges 16% Following Joint Venture Announcement, What’s Next?
The post Aptos (APT) Token Surges 16% Following Joint Venture Announcement, What’s Next? appeared on BitcoinEthereumNews.com.
TLDR: MEXC Ventures, Foresight Ventures, and Mirana Ventures launched a fund to support the Aptos ecosystem Aptos (APT) price surged 16.2% in 24 hours, with trading volume up 85% Technical analysis suggests APT could potentially reach $9.5, a 45% increase On-chain metrics show bullish sentiment with a Long/Short ratio of 1.04 The partnership aims to develop Web3 projects using Aptos’ infrastructure Aptos, a Layer 1 Proof-of-Stake blockchain, has seen a significant price increase following the announcement of a new investment fund. On September 18, 2024, MEXC Ventures, Foresight Ventures, and Mirana Ventures jointly launched a fund to support the Aptos ecosystem. This strategic move aims to enhance the platform’s interoperability and foster the development of Web3 technologies. The partnership has sparked considerable interest in the crypto community, resulting in a notable price surge for Aptos’ native token, APT. In the 24 hours following the announcement, APT’s price rose by 16.2%, reaching $6.62. This price movement was accompanied by an 85% increase in trading volume, indicating heightened participation from traders and investors. Aptos Price at Coingecko The primary goal of this collaboration is to nurture promising projects on the Aptos platform. By leveraging Aptos’ infrastructure and innovations like Block-STM, the fund aims to advance critical Web3 technologies and ensure seamless interoperability with key EVM ecosystems. From a technical analysis perspective, APT’s price action appears bullish. The token has broken out of the neckline of a bullish double-bottom pattern, despite being in a broader downtrend. Currently trading below the 200 Exponential Moving Average (EMA) on the daily timeframe, APT could potentially see further upside. Based on historical price momentum and the recent breakout, some analysts suggest that APT could potentially reach $9.5 in the coming days, representing a 45% increase from current levels. However, the token may face resistance around the $7.5…
Filed under: News - @ September 20, 2024 10:20 am