Aptos Token Broke The $12 Mark

Aptos Crypto Price Prediction: Will it Reach $20?

Price Analysis
1 March 2024

Amidst the crypto market growth, blockchain networks are capitalising on the thriving demands and introducing developments that drive their assets higher.

Aptos blockchain stands out among other decentralised projects, with unique offerings and distinctive features that caught the eye of crypto traders. 

The Aptos price today is a hot topic as investors debate the future of the network’s token and the Aptos crypto price prediction for the coming years.

Understanding Aptos Blockchain

The Aptos mainnet launch took place in October 2022, and since then, the chain’s native token, APT, has been on a rollercoaster of price fluctuations, peaking at the beginning of 2023 at $20.

Aptos blockchain is a unique network that uses smart contracts technology with a robust programming language called MOVE, which prompts higher safety protocols and minimises bugs in the system.

It is a layer-1 network that facilitates the development of DeFi projects and digital assets with high interoperability and tremendous processing speed. The Aptos chain is theoretically designed to handle over 150,000 transactions per second, making it a rival for established blockchains, such as Ethereum and Solana.

Aptos Crypto News

The recent Aptos token news grabbed the attention of traders, where the APT price broke the $10 threshold and went just over $12. The traders’ hopes remain high in light of the recent network activities that contributed to Aptos’ growth.

Strategic Moves

In the last days of February 2024, the Aptos Foundation announced a collaboration with zkME, an identity verification oracle technology that organises the operations’ verification process and makes it more secure to transact within the Aptos ecosystem.

Zero-knowledge proof (ZK) technology is becoming increasingly common among blockchains regarding user information security and fund safety. This milestone helped increase investors’ confidence in investing and owning APT, creating a bullish market.

This achievement can potentially power the network to unlock more NFT and DeFi functionalities.

Internal Improvements

The network has also experienced increased activity with a massive total value-locked growth. The Aptos’ TVL in February 2024 skyrocketed to over $260 million after residing around $50 million for the majority of 2023.

The network also unlocked a whopping 24.84 APT, or around 6.8% of the Aptos crypto total supply, which, despite being a risky move, managed to garner greater wallet activity demanding APT tokens.

Aptos Price Chart Analysis

Let’s analyse the Aptos price using the exponential moving average indicator over three different timelines, 50, 100, and 200 days, to track the short-term and long-term impacts. 

First, let’s review the short-term impact and take the 50-day and the 100-day EMA lines. Here, we see how the market price was moving under both lines for around 10 months in 2023.

Since May 2023, APT price has been trading below $10, and both EMA lines showed a downward trend, indicating no signs of improvement. 

However, this changed in November when APT price slightly picked up, and both EMA lines changed direction. After scraping the surface of $11 around the new year, the market price slumped temporarily before bouncing back up, crossing the $12 threshold.

In comparison to the 100-day line, we see the token price moving way above the indicator, showing signs of continuous climb. Additionally, the price is still way above the 50-day line, which hints at a stronger uptrend that continues until the day of writing.

APT price analysis

Let’s take another example. This time, we added the 200-day EMA to compare the divergence between the market price and the indicator. We see how APT price moves up and far away from the 200-EMA line, showing a positive trend that might continue in the long term.

APT price analysis with EMA indicator

Aptos Crypto Price Prediction 2030

Given the quick response of the APT token after the recent improvements, it may not be impossible for the coin to reach $20, especially with the ongoing crypto market growth.

APT coin’s recent outperformance is earning it a better place in the best-performing coins ranking and is part of the debate on good crypto to invest in.

The Aptos crypto price prediction for the remainder of 2024 revolves around the token’s ability to reach $20 and the probability of hitting a new one by the end of the year.

< Back