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Aptos Climbs 75% – What Keeps APT In The Green In Last 7 Days

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Aptos Climbs 75% – What Keeps APT In The Green In Last 7 Days

Aptos has been driven upwards by internal developments in the ecosystem. According to CoinGecko, APT is up 75% in the bi-weekly timeframe, notching its biggest gains this January.

The Aptos ecosystem mainnet was only released on October 12, 2022, which makes it one of the youngest blockchains in the market. But this hasn’t hindered Aptos as it quickly gained popularity, having over 70 projects being built or are under development on-chain. 

With recent developments piling on, the APT token is expected to register higher highs this year. 

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Positive Developments For Aptos

Developments on-chain have been very bullish for the ecosystem. On January 2nd, the METAPIXEL team announced that they are building a blockchain game on the Aptos network. It’s called Gran Saga: Unlimited, an MMORPG that will be based on NPixel’s original game of the same name. 

The team at @METAPIXEL has unveiled their first game in their ecosystem, built on @Aptos_Network

Gran Saga: Unlimited will launch (in some form) later this year.

A thread by @nederob 🧵👇 pic.twitter.com/1Rgpd5SEui

— DappRadar (@DappRadar) January 2, 2023

The test launch would happen sometime this first quarter this year with the full launch later this year. Polygon and Flow Blockchain also adopted the ecosystem’s research on consensus algorithms and parallel engines which are both crucial parts of Aptos’ Block STM technology. 

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This development might make Aptos technology see more limelight and it’ll be an interesting development if both Polygon and Flow use the technology as well. 

Moralis, a Web3 API company, also recently announced that it will be supporting Aptos according to a recent blog post by the network on January 17. This would let developers have access to tools needed to build on top of Aptos with ease. 

Image: Aptosfoundation.org

APT At $13.70 – What’s Next For The Token?

Since the start of the year, APT has grown more than 300% in the charts which may or may not face a correction in the next few days. If ever a correction happens, APT investors and traders can rely on several key levels to support a bullish rebound. 

But a correction phase near its current support at $11.82 might not be ideal for the bears. Recent on-chain developments and APT’s correlation with major cryptocurrencies have prevented any attempts by the bears to retest the support and recoup lost ground. 

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Crypto total market cap at $995 billion on the daily chart | Chart: TradingView.com

With both Bitcoin and Ethereum continuing their bullishness, APT investors and traders would greatly benefit from this as gains for BTC and ETH also means gains for APT. 

For now, investors and traders can be confident of reaching new highs as the broader crypto market is looking bullish for 2023. However, if the token does find itself in a correction phase, APT bulls may have to focus on consolidation for a healthy bullish momentum. 

Featured image by NFT News Pro

Christian Encila

Freelance writing is Christian’s other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he’s just like everybody else who wants to be happy with their life.

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Polkadot [DOT] dropped to a key support zone; can bulls prevail?

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Polkadot [DOT] dropped to a key support zone; can bulls prevail?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

  • DOT was neutral after a sharp drop on the 12-hour chart.
  • A price reversal could happen if demand increases at the crucial support zone. 

The value of Polkadot [DOT] dropped after Bitcoin [BTC] broke below the $23.5K level. At press time, DOT was trading at $6.225, over 4% down in the past 24 hours. Similarly, BTC was closer to retesting or breaking below the $23K level. 


Read Polkadot [DOT] Price Prediction 2023-24


However, DOT’s drop hit a critical support zone, which could act as an inflection point if demand for the asset increases at the level. 

The support zone of $6.0 – $6.2: Can it hold steady?

Source: DOT/USDT on TradingView

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Is your portfolio green? Check out the DOT Profit Calculator


Polkadot’s January rally was slowed by two phases of price consolidation. The second price consolidation phase was the most challenging as it broke below the uptrend line at press time. 

But the drop hit a critical support zone of $6.013 – $6.200. The zone was a resistance level before it was flipped into the current support level. If demand for DOT increases at this level, DOT could witness a price inflection and reverse the losses from the sharp drop. 

Such an upswing could move DOT above the uptrend line to retest the overhead resistance level of $6.804. In addition, if BTC reclaims the $23.5K level and surges afterward, DOT could reclaim its pre-FTX level of $7.124. 

The On Balance Volume (OBV) increased steadily, showing an uptick in trading volume and buying pressure which could boost DOT’s potential uptrend momentum. 

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But the RSI was 50, showing a neutral structure; thus, the price direction wasn’t definitive. The above bullish bias will be invalidated if bears break below the support zone (green) at $6.000. The plunge could stop at the $5.754 or the 100-period EMA. 

DOT saw increased development activity and demand

Source: Santiment

As per Santiment, DOT recorded an impressive building in the network, as evidenced by the rising development activity. The increasing development activity also coincided with DOT’s price surge. 

In addition, DOT saw an uptick in the Funding Rate, indicating increased demand and bullish sentiment in the derivatives market. Similarly, the weighted sentiment retreated significantly from the negative territory, showing improved investors’ stance on the asset. The above trend could boost DOT’s recovery and uptrend.

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Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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Why Solana’s [SOL] recent gains might be undercut by this metric’s findings

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Why Solana’s [SOL] recent gains might be undercut by this metric’s findings

  • ‘Overvalued’ Solana’s indicators seemed to indicate the arrival of market bears 
  • On the contrary, SOL’s demand across the derivatives market increased

TK Ventures and CoinWire’s data revealed that Solana [SOL] is now the most overvalued blockchain. This was determined using the market capitalization/TVL metric. When a network’s market cap to TVL ratio is above 1.0, it means that the network is overvalued, which can result in a price correction. As Solana’s MKC/TVL value was 17.5, the probability of increased selling pressure can be considered to be high. 

According to the MKC/TVL ratio, @solana seems to be overvalued compared to other blockchains.

What is your opinion on this statement?

✨ Read Crypto Report 2022 below to gain more informationhttps://t.co/uHdBOBVQiC pic.twitter.com/59Z8OrEIrt

— Solana Daily (@solana_daily) January 30, 2023


Read Solana’s [SOL] Price Prediction 2023-24

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However, Solana’s recent price action tells us a different story. According to CoinMarketCap, SOL registered daily gains of over 6%. At the time of writing, it was trading at $25.55 with a market capitalization of more than $9.4 billion. 

The bears are here

While the price action has remained dynamic, Solana’s daily chart revealed the arrival of the bears, which might cause a trend reversal. For instance, the Relative Strength Index (RSI) registered a slight downtick near the overbought zone. The Money Flow Index (MFI) went close to the neutral zone – A bearish finding.

Moreover, the MACD revealed that the bears were in a battle with the bulls. Considering the aforementioned indicators, it seemed more likely for the bears to gain an advantage in the market. 

Source: TradingView

More reasons to be concerned 

Not only were the market indicators bearish, but Solana’s NFT ecosystem also registered a decline over the past week. CryptoSlam’s data revealed that Solana’s total sales value in the last seven days was 27.52 million – 27% lower than the figures for the previous week. Interestingly, despite the fall in sales, the total number of transactions rose last week. 

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Is your portfolio green? Check the Solana Profit Calculator


SOL’s on-chain metrics also raised alarm bells as they too looked to align with the sellers’ interest. Positive sentiments around Solana fell over the past week, reflecting the investors’ lack of trust.

Furthermore, SOL’s 4-week price volatility declined sharply, something that might restrict SOL’s price from going up in the coming days. Nonetheless, SOL’s demand in the Futures market increased as its Binance funding rate spiked. The network’s development activity also hiked, which by and large is a positive signal.

Source: Santiment

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Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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Twitter: Elon Musk reportedly plans to build crypto functionality to payments service

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Twitter: Elon Musk reportedly plans to build crypto functionality to payments service

  • Elon Musk’s Twitter plans on bringing payment services that could add support to crypto
  • Dogecoin registered a rise in its value following the report

Dogecoin (DOGE), Elon Musk’s go-t0 cryptocurrency, has seen a rise in its value over developments happening at Twitter. According to a report by Financial Times, Twitter has been designing software to bring in payments service on the platform. And, this platform could extend support to crypto.


Read Price Prediction for Dogecoin [DOGE] for 2023-24


Payments services coming to Twitter

In addition, the social media giant has been applying for licenses in various states in the United States. Twitter had previously registered itself as a payment processor with the US Treasury Department in November 2022. The firm also expects to complete all the licensing procedures by the end of this year.

Notably, the project is spearheaded by Esther Crawford – chief executive of payments at Twitter. The team is reportedly designing a vault for storing and protecting users’ information, which will be collected by the payments platform. Moreover, the report states that Musk wants the payments platform to be fiat centric. But, it would be built in a way that it could extend support to cryptocurrencies in the future.

Furthermore, Musk revealed plans on bringing payments services to Twitter back in October 2022. The Tesla CEO wants Twitter to offer financial services such as savings accounts, offering debit cards, and more. His grand plan for Twitter is to make it an everything app, with Musk stating that “Twitter probably accelerates X by 3 to 5 years, but I could be wrong”.

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According to CoinMarketCap, the popular meme-coin was trading at $0.0911 at press time. Since the news broke, DOGE recorded a rise of over 3 percent in the past 1 hour and had a market cap of over $12 billion.

Tesla leaves its Bitcoin investment untouched

Subsequently, Musk’s Tesla continues to hold on to its Bitcoins (BTC). According to the recently disclosed Q4 report, the firm did not buy or sell any Bitcoins during the last months of 2022. However, its Bitcoin holdings did record some losses, with the coin shedding $33 million of its value from Q3.

Tesla’s BTC was worth $184 million in Q4, while the same stood at $218 million in Q3. Notably, the company first invested in BTC back in 2021, but the firm sold over 75% of its $1.2 billion investment in mid-2022.

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