Aptos (APT) Jumps 11% Following Acquisition Of Japanese Blockchain Developer HashPallette
04 Ottobre 2024 - 11:30AM
NEWSBTC
Aptos (APT) soared over 10% in the last 24 hours following Aptos
Labs’ acquisition of HashPallete. The token is leading the market
after becoming the largest gainer among the top 100
cryptocurrencies by market capitalization. Related Reading: Bonk
‘In Prime Position For Turbo Green Week’ As Price Recovers Key
Level Aptos To Expand Its Presence In Asia On Thursday, Aptos Labs,
the developer of the Aptos network, announced it had agreed to
acquire the Japanese Blockchain developer HashPallete, the company
behind Japan’s Palette Chain and a subsidiary of HashPort Inc. The
agreement aims to become a “game changer for Japan and the Aptos
ecosystem” as the integration with the Japanese blockchain is set
to strengthen its presence in the Asian market: Japan has long been
a hub of technological innovation, and it’s no different when it
comes to blockchain. The country’s unique blend of advanced tech
and widespread blockchain adoption makes it a model for Web3
initiatives globally. Today, we’re making one of our boldest
strategic moves into this market with our agreement to acquire
HashPalette Inc. As part of the acquisition, HashPort Inc. will
migrate the Pallete Chain and its subsidiary’s applications to the
Aptos Network. The Japanese chain will also have access to the
Aptos ecosystem’s security, scalability, and developer tools. The
migration is expected to be completed by early 2025, in time for
the EXPO2025 DIGITAL WALLET. Moreover, Aptos Labs partnered with
HashPort to support local developers, NFT creators, and enterprises
by “continuing to build blockchain solutions (…) using Aptos
Network’s infrastructure.” APT Leads The Crypto Market Following
the announcement, APT’s price saw a daily 11% surge, jumping to the
$8.66 resistance level before retracing to the $8.51 mark. This
performance crowned the token as the leading crypto amid the market
retrace. APT is among the few cryptocurrencies recording green
numbers in most timeframes among the top 100 tokens by market cap.
The altcoin registers a 7.5% and a 41% increase in the weekly and
monthly timeframes. Additionally, its daily market volume soared
41.7%, reaching a $769.6 million trading volume in the last 24
hours. The token’s performance was highlighted by several crypto
analysts, who considered that APT has the “most interesting chart”
at the moment. According to Yuriy from BikoTrading, the
cryptocurrency looks strong as the rising trading volume and the
price performance “signs for continued growth.” The trader noted
that APT’s price held above the key resistance zone amid the market
retrace, which sent the token above Q3’s range highs. Similarly,
crypto trader Osbrah stated that APT has been “secretly climbing
its way to the most interesting alts charts.” He pointed out that,
after October 1’s market sweep, the token had a “clean bullish
retest” above the $8 mark. To the trader, the next big resistance
is at the $9 mark, which could send APT’s price to the $7.95
support zone if it fails to reclaim it. Meanwhile, another market
watcher suggested that the altcoin’s performance could be close to
a breakout. Related Reading: Analysts Unfazed By Bitcoin (BTC)
Drop, But Should We Fear October 5? Per the post, SUI and APT moved
in a “catch-up trade” path for the past year, moving closely
together until SUI decoupled in early 2024. This led to a 44-day
lagging period for APT before it followed SUI’s movements. After
that, APT rose 98% to its yearly high of $18.8 in mid-March. Now,
APT has seen a 32-day lagging period after SUI decoupled again in
September, showing “incredible amounts of strength.” Based on this,
the analyst suggests that the cryptocurrency could follow SUI’s
trajectory and kickstart a massive rally in the next two weeks if
history repeats. Featured Image from Unsplash.com, Chart from
TradingView.com
Grafico Azioni Prime (COIN:PRIMEUSD)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Prime (COIN:PRIMEUSD)
Storico
Da Dic 2023 a Dic 2024