What is behind it – and is it worth buying?

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Aptos Coin (APT) is attracting more and more investors: the asset has been driven higher by internal developments in the ecosystem, up 75% on the weekly time frame, according to CoinGecko.

The main network of the Aptos ecosystem was only released on October 12, 2022 – so Aptos Coin is one of the younger blockchains on the market. Aptos has been able to gain popularity quickly: more than 70 projects are being built or are under development in the chain.

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Given the recent progress, some predictions are that the APT token could reach new highs this year.

Positive development for Aptos (APT)

The development of blockchain has been very positive for the ecosystem. It was January 2nd METAPIXELteam for example knownthat it is developing a blockchain game on the Aptos network. It’s called Gran Saga: Unlimited – an MMORPG based on the original NPixel game of the same name.

“The @METAPIXEL team has unveiled its first game in its ecosystem, which will be released on the @Aptos_Network

Gran Saga: Unlimited will be released (in some form) later this year.”

Test launch is planned for sometime in the first quarter of this year, with full launch later this year. polygon and Flow blockchain has also undertaken the ecosystem’s research on consensus algorithms and parallel engines – both critical parts of Aptos’ “Block STM” technology.

This development could bring Apto’s technology more attention. It would be an interesting development if both Polygon and Flow used the technology.

Moralis, a Web3 API company, also recently announced that it will support Aptos. The network announced in a blog post on January 17. This is intended to give developers access to the tools they need to easily build on top of Aptos.

Image: Aptosfoundation.org

APT at $13.70 – What’s Next for the Token?

Since the beginning of the year, APT is up more than 300% on the charts, which may or may not result in a correction over the next few days. Should a correction ever occur, APT investors and traders can look to several key levels to support a bullish rebound.

Aptos Monthly Chart. Image: Coinmarketcap.com

However, a corrective phase near the current support at $11.82 may not be ideal for the bears. Recent developments on the blockchain and APT’s correlation with major cryptocurrencies have thwarted the bears’ attempts to retest the support and regain lost ground.

Total Cryptocurrency Market Cap Of $995 Billion On The Daily Chart | Chart: TradingView.com

As both Bitcoin and Ethereum continue their uptrend, APT investors and traders will benefit greatly as gains in BTC and ETH should also mean gains for APT.

For now, investors and traders can be confident of reaching new highs as the broader crypto market also looks positive for 2023. However, if the token is in a corrective phase, APT bulls may focus on consolidation to maintain healthy upward momentum. In this regard, you can buy Aptos today, but experts currently see a better risk-reward ratio for Fight Out Coin (FGHT), a new pre-sale cryptocurrency. Find out more here:


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Text credit: Newsbtc

Last updated on January 23, 2023

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