Multiple factors are responsible for the fluctuations and movements in Aptos price. For instance, The TVLs of prominent Layer 1 blockchain networks like Ethereum (ETH), BNB Chain (BNB), and Cardano (ADA) have recently declined.
This trend could result from Curve’s hack, which raised concerns of a potential domino effect impacting the broader DeFi ecosystem. Moreover, the global crypto market cap is down in the past 24 hours. Major coins such as BTC and many amongst the top 20 show price losses today, August 14.
Total Value Locked (TVL) in #Ethereum DeFi has fallen by almost 8% since Sunday. The decline, likely triggered by the uncertainty following the #Curve attack, represents a sharp decrease. To put this in context, the decrease amounts to $3.55B, with Curve’s TVL on ETH comprising… pic.twitter.com/lZXWwvBfWQ
— IntoTheBlock (@intotheblock) August 1, 2023
These same factors could have impacted the price of Aptos, given its inability to make notable price growth in the past 24 hours.
Aptos Market Bleeds Out Previous Gains
Aptos has given up a significant portion of its gains over the past four days. Its trading price is $7.09 at 09:43 am EST, indicating a decline of 2% in the past 24 hours.
But the token has also shown strength over the past seven days, displaying more than 6% growth. Moreover, Aptos trading activity over the past 24 hours has been positive, projecting a surge of nearly 13%. The total trading volume now stands at over $96.6 million.
APT Remains Continues Consolidation State
Aptos price has been moving narrowly and sideways over the past five days. However, bears have shown more strength within this period. The token has been attempting to break past the 50-day resistance over the same period but failing to beat the pressure from sellers.
Even after the few vivid green bars created on the histogram, it’s now forming the second fainting bar today, mirroring a weakness from buyers. More so, the token’s price fell from a critical resistance position of around $7.8453 five days back and has failed to make any progress to this point afterward.
But it’s worth noting that Apto’s price has been stable regardless of the bears’ dominance on the market. The RSI reveals this balance, standing at 50.38.
In the meantime, the market projects higher chances for a dip than a rise. Should sellers possess the market any further, Aptos could see its price dip to the next support level of $6.6277.
What Could Impact Aptos Price?
A notable event occurred on August 9 when Aptos unveiled a strategic alliance with the tech behemoth Microsoft. This development instigated a swift and substantial 10% surge in APT’s price within a single trading day.
However, the altcoin’s subsequent trajectory witnessed a substantial retracement of these gains over the past four days. This depreciation can be linked to a decline in accumulation following the brief surge on August 9.
This adjustment is evident in the southward movement of key momentum indicators on the D1 chart, implying a reduction in APT accumulation among this group of traders.
Nevertheless, it’s worth noting that substantial selloffs have ceased, and the token could respond to the changes over the next few days.
Aptos Alternative – Wall Street Memes
Wall Street Memes burst onto the scene over a month ago, initiating its presale campaign with remarkable momentum. This initiative has amassed a substantial funding pool of over $23.7 million, underscoring its robust appeal in crypto.
Rooted in the ethos of community-driven engagement, Wall Street Memes has established itself as a thriving crypto community that leverages the potency of memes across platforms like X and various social media channels.
This innovative approach has captivated the audience and significantly fostered an actively engaged community.
The buzz generated by Wall Street Memes’ online presence and the endorsement from influential figures like Musk have collectively fueled the momentum of its presale campaign.
Cryptocurrency experts and analysts are keenly observing the unfolding trajectory of Wall Street Memes, and their insights are compelling.
The prevailing sentiment is that once this promising venture is introduced to cryptocurrency exchanges, its potential for exponential growth becomes even more apparent.
Moreover, some experts predict that Wall Street Memes could surge tenfold in value once it gains access to these trading platforms, further enhancing its allure and market impact. Interested investors can visit the site and buy WSM with a supported crypto asset or bank card.
Wall Street Memes – Next Big Crypto
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- Featured on BeInCrypto, Bitcoinist, Yahoo Finance
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