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Aptos (APT) has been in a negative mood since March 26, 2024, falling from $19.48 to a low of $5.18…

The current price of APT stands at $7.02, and traders should keep in mind that a risk of further decline still persists. There has also been a significant decline in whale transactions for APT over the past several months. This loss of interest from major investors suggests that APT’s prices may continue to remain low.

Predicting the exact direction of Aptos (APT) in August 2024 is challenging due to its volatile nature but general market sentiment, influenced by news, events, and social media trends, will impact price. Positive sentiment could drive prices up, while negative sentiment could cause them to fall. So where is the price of Aptos (APT) going next, and what can we expect from August 2024?

Aptos enables mass adoption in the Web3 era

The rise of blockchains has led to developers deploying tens of thousands of decentralized applications at rapidly growing rates but to enable mass adoption in the web3 era, blockchain infrastructure needs to follow the path of cloud infrastructure as a trusted, scalable, and cost-efficient.

Aptos blockchain has been designed with scalability, safety, reliability, and upgradeability as key principles, and the combination of these technologies provides a fundamental building block to bring web3 to the masses.

In order to maximize the network’s security and scalability, Aptos utilizes the Move programming language, which was created as part of Meta’s effort to launch the Libra blockchain. To achieve high throughput and low latency, the Aptos blockchain fully leverages all available physical resources, improves hardware efficiency, and enables highly parallel execution.

The Aptos team claims that its network can process over 150,000 tps, and by comparison, Ethereum’s mainnet tps is around 12 to 15. Most blockchains execute transactions sequentially, which means that a single failed transaction or high demand on the network could hold up the entire chain, while in the case of Aptos, failed transactions are either re-executed or aborted.

The modular design of this blockchain supports client flexibility and instant upgrades. Moreover, to rapidly deploy new technology innovations and support new web3 use cases, the Aptos blockchain provides embedded on-chain change management protocols.

Rating: 9.2/10
Supply: 130,000,000
Release date: October 17, 2022

Description: Discover Aptos and be part of the cryptocurrency revolution.

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.


Bears continue to control the price

APTOS (APT) is the native token of Aptos, and it is important to say that the total supply of this token is limited to 1 billion. Aptos (APT) has been in a negative mood since March 26, 2024, and the decline in this crypto’s price reflects a significant decrease in the number of large trades involving APT.

A decline in large trades might be interpreted as waning confidence among large holders or institutional investors which could negatively affect market sentiment and potentially lead to further declines in APT’s price as other investors follow suit.

However, the positive news is that Aptos saw a significant rise in blockchain transactions and according to recent data, the network had over 2 million transactions as of July 16. A rise in transactions usually means there is an increased level of buying and selling. However, heavy movements and sudden spikes, like with Aptos and the price increase, indicate that buying pressure was much greater than the volume of APT sold.

Technical analysis for APTOS (APT)

Aptos (APT) has significantly weakened since March 26, 2024, falling from $19.48 to a low of $5.18. Aptos (APT) current price stands at $7.01, and as long the price of this cryptocurrency stands below $10, bears would be in control of the price action.

Technical analysis for APTOS (APT)

Important support & resistance levels for APTOS (APT)

Important support & resistance levels for APTOS (APT)

On this chart (the period from January 2024), I marked important support and resistance levels that can help traders understand where the price could move. Aptos (APT) continues to be under pressure, but if the price advances above $9, the next target could be an important resistance level at $10. The strong support level is $6, and if the price breaks this level again, it would be a “SELL” signal, and we have the open way to $5.

What speaks for the rise in the APTOS (APT) price

Aptos is a new, independent high-performance Layer 1 project focused on delivering the safest and most scalable blockchain in the world and investors might consider adding APT to their portfolios if they believe that this project could have a bright future. The Aptos data model offers flexible key management and hybrid custodial options, ensuring transaction transparency before signing and practical light client protocols for a safer, more trustworthy user experience. General market sentiment is an important factor that influences APT’s price but positive news, partnerships, and developments related to Aptoc can attract more investors and traders, pushing the price up.

What indicates the downfall of APTOS (APT)

The downfall of Aptos (APT) can be influenced by a wide range of factors, including market sentiment, regulatory developments, technological advancements, macroeconomic trends, and more. Market conditions can change rapidly, and staying informed and employing risk management strategies are crucial when navigating the cryptocurrency market. It is important to mention that there has been a significant drop in large transactions for APT in the last several months, suggesting reduced interest from major investors. The current support level for APT stands at $6, and if the price falls below this level, the next target could be strong support at $5.

What do analysts and experts say?

Despite the minor jump, bears still control the price movement of Aptos (APT), and many crypto analysts say that the fact that whales have lost interest in accumulating more APT indicates that we would continue to see low prices for APT. Crypto analysts agree that ACP is a risky investment, and its price can fluctuate dramatically over short periods, leading to substantial gains or losses for investors. Therefore, investing in Aptos (APT) should be approached with careful consideration. Conducting thorough research and assessing one’s risk tolerance are essential steps before making any investments in this space. In the upcoming weeks, the price of APT will continue to be notably impacted by the general situation in the cryptocurrency market, as well as concerns about a potential economic downturn, increasing global tensions, and the proactive monetary strategies of leading central banks.

Disclaimer: Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to lose. The information on this site is presented for educational purposes only and should not be construed as investment or financial advice.

by Our Certified Author
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    GALA and Aptos (APT) lead the way for altcoins this weekGALA and Aptos (APT) lead the way for altcoins this week
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    Yep, we've all seen how well Bitcoin (BTC) has performed in this past week, but what about our beloved altcoins? From the top 5, GALA and Aptos (APT) are ahead of a pack that includes Ziliqa (ZIL), Optimism (OP) and Lido Dao (LDO) when it comes to market gainers. Gala is way ahead of the rest with a whopping increase of almost 127% compared to APT in second place with 67%. Wanna get going with Gala? Sign up for eToro now!

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