Solana Killer Aptos Jumps 14% on This Positive News

Nov 28,2022
Solana Killer Aptos Jumps 14% on This Positive News

APT is the original token of the Aptos blockchain, known as the "killer of Solana", which has increased by 14% in the past 24 hours to $4.90. On the premise of the price increase, the trading volume has also increased by 50%. In the past 24 hours, we exchanged APT tokens worth 200 million dollars.

The main reason for the rise may be that according to media reports, Aptos Labs, the entity line behind the Aptos blockchain, is one of the famous encryption enterprises that aims to contribute $50 million to the $1 billion Field Recovery Initiative (IRI) led by Binance. The Fund is committed to purchasing crypto assets that have fallen into a desperate situation in the bear market environment of the stock market that has often occurred since the beginning of 2022.

After the news of FTX collapse was heard, APT prices fell because investors were worried about the infection risk of FTX related businesses.

Before the launch, Aptos realized a strategic financing of $200 million for major game players such as Andreessen Horowitz, and a round of financing of $150 million led by FTX. Recent information about their participation has brought some relief to crypto currency investors, who are worried about the risk of infection caused by the collapse of FTX.

In the past week, Aptos announced that it had established strategic partnership with MetaPixel to promote the continuous progress of Web3 games. MetaPixel will become the first strategic partner of Aptos in the game industry, making MetaPixel and Aptos become key players in the field of Web3 games.

APT prices are about to enter the first green week since October

Shortly after the announcement in October, Aptos became the focus of the encryption field. Because the encryption field wanted to see what would happen to the new layer 1 project that Meta started to rise.

Within a week after the release, APT tokens showed an impressive rise. After that, they experienced strong sales and continued to sell after the collapse of FTX in November.

The relative strength index (RSI) was thus oversold, and the stock fundamentals were close to $3.46. APT began to repair slowly, although only in one category. Since November 22, APT has been taking active actions, which means it will continue to be green for the fifth day.

Since its establishment in October, APT is expected to complete its first "green" week.