{"id":3964,"date":"2024-09-05T18:00:06","date_gmt":"2024-09-05T18:00:06","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=3964"},"modified":"2024-09-05T18:00:06","modified_gmt":"2024-09-05T18:00:06","slug":"aptos-apt-dips-15-as-new-innovations-fail-to-spark-momentum","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=3964","title":{"rendered":"Aptos (APT) Dips 15% As New Innovations Fail To Spark Momentum"},"content":{"rendered":"

Although the market is attempting<\/a> to rebound from its weak September start, some altcoins \u2013 including Aptos (APT) \u2013 continue to freefall despite the bulls\u2019 attempts to make a return. According to CoinGecko, APT\u2019s current performance is lackluster with the token falling 15% since last week.\u00a0<\/p>\n

Meanwhile, Korea Blockchain Week has generated quite a lot of buzz for Aptos. During this event, several on-chain developments have been revealed. Although positive developments on-chain are a great sign of long-term growth for the platform, investors and traders are still struggling to overcome the market\u2019s fear, uncertainty and doubt.\u00a0<\/p>\n

Aptos Continues Drive Down Towards $5.74\u00a0<\/strong><\/h2>\n

As of writing, APT bulls have been aiming to wrestle control of the token\u2019s momentum in the short term. However, the bears are pressing their advantage, targeting $5.74 in the short-term timeframe after flipping the $6.12 support to resistance.\u00a0<\/p>\n

The market\u2019s continuous downward trajectory is the primary reason for APT\u2019s underperformance. Driven by FUD from the broader financial market that bled<\/a> to the crypto market, APT might face continued losses in the coming weeks.\u00a0<\/p>\n

APT\u2019s relative strength index (RSI) suggests that the token\u2019s downward trajectory will continue well below the $5.74 support level. If this occurs, it might lead to a bigger sell-off localized on APT\u2019s market.\u00a0<\/p>\n\n

This thesis has a larger possibility to occur as CoinGlass<\/a> notes that short positions outnumber long positions in the past 24 hours further strengthening the token\u2019s bearish trajectory.\u00a0<\/p>\n

Investors and traders should monitor the coming release of macro indicators due today. As the markets continue to price in a broader downturn, positive macros will provide the needed boost for both the traditional markets and the crypto market in the long term.<\/p>\n

Korea Blockchain Week Reveals New Developments On Aptos<\/strong><\/h2>\n

The Aptos Experience in Korea Blockchain Week continues to garner the attention of the community. Arculus, a digital security platform, has partnered<\/a> with Aptos for the platform\u2019s Aptos card. This has made tap-to-pay on Aptos possible, improving the utility of the token and the platform itself.\u00a0<\/p>\n

On-chain, Aptos has also expanded since the start of the year. According to the Head of Ecosystem of Aptos Labs Neil Harounian, the platform has recorded<\/a> $2 billion in bridged volume with the total value locked (TVL) on chain ballooning 3x since the end of 2023.<\/p>\n

This panel on stablecoin and payments at @Aptos<\/a> Experience is with panelists from:<\/p>\n

\u2013 @Visa<\/a> on enabling payments cross-border
\n\u2013 @PayPal<\/a> on the speed and finality of digital payments on Aptos
\n\u2013 @IDAfi24<\/a> on building regional regulated stablecoin on Aptos<\/p>\n

Stablecoin summer &\u2026 pic.twitter.com\/R5aeRKMTVn<\/a><\/p>\n

\u2014 JC | TowneSquare \u274f (@realjcz) September 5, 2024<\/a><\/p>\n

The Aptos Experience also hosted<\/a> a talk about stablecoins and payments on Aptos. Market giants like Visa and PayPal joined in, providing insight into how stablecoins might be implemented to solve real-world problems.\u00a0<\/p>\n

With the ecosystem continuing to innovate and expand through on-chain development, Aptos could still grab a spot in the long-term side of the market.\u00a0<\/p>\n

Featured image from Medium, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Although the market is attempting to rebound from its weak September start, some altcoins \u2013 including Aptos (APT) \u2013 continue to freefall despite the bulls\u2019 attempts to make a return. According to CoinGecko, APT\u2019s current performance is lackluster with the token falling 15% since last week.\u00a0 Meanwhile, Korea Blockchain Week has generated quite a lot […]<\/p>\n","protected":false},"author":0,"featured_media":3965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3964"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3964"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/3965"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}