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300% jump in Aptos price; How long does the APT rally last?

Aptos_Token_Prices_Double_in_Two_Weeks_Amid_Strong_NFT_Interest

The price of Aptus (APT) has more than tripled in less than 2 weeks, reaching $14, and has reached the 30th position in the crypto project table. Given the project’s low price history, traders are looking to see how far this growth will continue.

According to Mihan Blockchain and quoted by CoinDesk, the price of Aptos fell from its peak of 10 dollars to nearly 3 dollars after the collapse of the FTX exchange. It should be mentioned that one of the important investors of Optos was Alameda Company, which was very close to FTX exchange. But after the fever of this issue subsided, the projects that were related to FTX, started to revive their prices again, the leader of which was Solana.

Aptos was created by Diem team (Facebook blockchain project). this project It aims to provide a secure infrastructure on which decentralized applications (Dapps) can be easily built.

The price of Aptus was around $4 on January 8 (Dec 18) and reached a peak of $14.57 in less than 2 weeks with a staggering growth of around 360%.

Optus daily time frame price chart Source: TradingView
Optus daily time frame price chart Source: TradingView

In the chart above, support and resistance levels of Aptos are drawn with red lines. To read APT technical analysis, you can refer to this article.

One of the fundamental reasons for Aptos price growth was related to users’ acceptance of the NFT trading market on this network called Topaz. It should be noted that less than 4 months have passed since the launch of the Aptos network, and it may be too early to judge the value of this network, but you should know that a billion APT units have been predicted in Tokonomics, of which about 159 million units are currently in circulation. Its current market value is about 2 billion dollars, which puts Optos in the 29th position of the cryptocurrency table.

It is important to mention that this price growth happened when the price of Bitcoin increased and the market went up. The concern remains that if the BTC price growth is a bull trap and the price falls sharply, how much of a price correction will projects like Optos, which have seen a lot of growth during this time, face? You can read the Bitcoin price analysis in this link. Soon, in another article, we will reflect the opinion of analysts about the possibility of a bull trap in the price of Bitcoin.

But to predict the future price of APT, we can assume that all its coins are in circulation. At the current price, the total market value of the project will be about 14 billion dollars, which will place it above Cardano in the eighth place of the cryptocurrency table.

Will the price of Aptos increase?

  • To answer this question, 2 points should be taken into consideration, for which FTX and Alameda streams may still be considered negative as the main investors of the fundamental project. The second point is that the development and application activities of this project are enough to place it among the top 10 cryptocurrency projects? Because in the future, the coins of this project will be released, and it should be seen whether the price of Aptos will have the traction to increase the market cap to this extent or not.

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