Aptos Price Soars 10% After MEXC Partnership; Is Stability Ahead?

Aptos (APT) price, a Layer 1 Proof-of-Stake blockchain, has recently experienced a significant uptick in value. The trend for APT appears bullish as it trades upward and maintains a position above its key support levels. This recent rise mirrors broader movements within the cryptocurrency market, suggesting a collective uptrend.

Today’s cryptocurrency market is showing promising signs of growth. Bitcoin has surged past the $64,000 mark. Ethereum also shows strong performance, maintaining a level of around $2,500. Additionally, Solana is experiencing gains, which seems to be propelling a general uptrend among other altcoins. This continued rise in top altcoins is fueling optimism across the market.

Aptos Price Surges With New Development Fund

Aptos price has increased significantly following a new partnership involving MEXC Ventures, Foresight Ventures, and Mirana Ventures. These firms have created a fund to foster projects on the Aptos blockchain. This initiative aims to boost the growth of decentralized apps and protocols, capitalizing on Aptos’ distinctive technology. 

Forest Bai, Co-Founder and CEO of Foresight Ventures emphasized that Aptos developers are addressing pivotal blockchain community challenges. He asserted that this fund begins their ongoing support for the Aptos ecosystem’s innovative endeavors.

APT Price Prediction: Is $10 on the Horizon?

The Aptos price is rising, indicating an ascending trend in the past 24 hours. As of the reporting time, the APT price hovered at $6.83, marking a significant 6.97% increase within the day. The price movement started at a low of $6.29, climbing to a high of $6.92 before settling back to its current level. 

The Relative Strength Index (RSI) climbed into the upper half of the neutral zone at 61, which signals increasing buying momentum. Concurrently, the Chaikin Money Flow (CMF) indicator surged upwards, crossing into positive territory at 0.16, suggesting a strong influx of money into the asset. 

Aptos Price Chart| Source: TradingView

According to Coinglass data, trading volume for Aptos derivatives has surged by 47.28% to reach $318.55 million. Open interest in these derivatives has also seen a significant increase of 14.97%, amounting to $112.26 million. This upswing in trading activity and investor engagement highlights a growing interest in Aptos’s financial instruments.

Source- Coinglass

Layer one coin is currently facing challenges in surpassing the $7 level. If it successfully break through the crucial $8 mark, it may initiate a significant bullish pattern. Potential future price points include $9 and perhaps $10 eyeing 45%, indicating a robust buying interest.

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