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Cryptocurrency News Articles
Aptos (APT) Defies Market Correction, Soaring 8% as TVL Hits All-Time High
Oct 24, 2024 at 04:02 am
Aptos (APT) is standing out as a notable performer. While the overall market has experienced a slight correction of 1.92% over the past 24 hours
Aptos (APT) price is showing remarkable resilience amid a slight correction in the broader crypto market. While the overall market has seen a minor pullback of 1.92% over the past 24 hours, APT price has defied the bearish trend with a notable gain of approximately 8%.
As investors observe Aptos’ continuous ascent, many are wondering whether the token can reach $15. This speculation gains ground as Aptos' Total Value Locked (TVL) hits an all-time high.
Recent market activity shows Bitcoin (BTC) price attempting to hold the $67,000 level again, which has contributed to a pullback in many top altcoins. However, Aptos has managed to capture the spotlight.
The APT token has not only increased by 7.97% in the past day but has also seen a staggering 40% surge in value over the past month. This impressive performance comes amid heightened investor interest and adoption of the token.
Aptos price is experiencing significant price action, with a trading volume of $436.62 million. A technical analysis reveals promising signs for APT. The 50-day and 200-day Exponential Moving Averages (EMA) have formed a Golden Cross on the daily chart, indicating that buying pressure is outweighing selling pressure. This bullish signal suggests that the momentum could continue to favor the buyers in the near term.
The Relative Strength Index (RSI) has also shown a notable upward movement, nearing the overbought territory. With a bullish convergence in its average trendline, the APT price indicates a positive outlook. These technical indicators suggest that investors should keep a close watch on Aptos as it navigates the market.
Adding to the positive sentiment around Aptos, the network has reached a new Total Value Locked (TVL) of $910.69 million, according to data from DeFi Llama. This marks a significant increase of over 200% from its August lows.
The surge in TVL indicates growing confidence in the Aptos ecosystem, as more digital assets flow into the network. The network's TVL now constitutes about 15.901% of Aptos’s total valuation, which is a substantial increase from 11.02% in August.
As Aptos continues to show strength amidst a generally bearish market, investors are keenly watching its next moves. The combination of favorable technical indicators, increasing TVL, and investor interest sets a positive stage for APT's potential to reach $15.
However, it's important to note that cryptocurrency prices are inherently volatile, and both bullish and bearish scenarios are possible.
For those looking to invest or further analyze Aptos, keeping an eye on market trends and price movements will be crucial in making informed decisions. As always, investors should approach crypto investments with caution, considering both the potential for gains and the risks involved.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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