Aptos News

Solana Killer Aptos Jumps 14% on This Positive News

Aptos News
Aptos News Cover image via stock.adobe.com

Aptos News

According to Aptos blockchain’s latest news, its native token, APT, has gained 14% in the last 24 hours, reaching $4.90. APT has been called a “Solana killer.” APT tokens worth $200 million changed hands in the previous 24 hours, a 50% increase in trading volume.

Aptos Labs, the company behind the Aptos blockchain, will donate $50 million to Binance’s $1 billion Industry Recovery Initiative. Since the beginning of 2022, the market has been bearish, so the fund’s goal is to buy distressed crypto assets.

After hearing about the FTX’s demise, investors dumped APT because they were worried about the ripple effect on other FTX-related projects.

Aptos (APT): Here’s What Contributed to Recent Price Move

Aptos raised a total of $300 million before launching, including a $200 million strategic round from investors like Andreessen Horowitz and a $150 million Series A round led by FTX. Investors in cryptocurrencies who were worried about a domino effect from the FTX collapse were relieved to hear the company was now taking part in the solution.

Aptos, a leader in the Web3 gaming industry, just this week announced a strategic partnership with METAPIXEL. Aptos’ first gaming industry strategic partner will be METAPIXEL, solidifying both companies’ positions as leaders in the Web3 gaming industry.

APT price set to mark its first green week since October

After its October launch, Aptos quickly became the center of attention in the cryptocurrency industry as observers watched to see what would come of the Layer-1 project, which had its genesis with Meta.

The APT token’s price fell precipitously after a spectacular rise in the week following its launch, and the decline continued into November after the FTX collapse.

Due to this, the Relative Strength Index (RSI) has dropped to oversold territory, with a support level close to $3.46. There was a discernible uptick in APT, albeit within certain constraints. APT has been on a roll since the 22nd of November, with today marking its fifth day in the green.

In addition, APT is on track to finish its first “green” week since its launch in October.

Source: U.today




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