Aptos (APT) is a token that is expected to experience an increase in both its upward movement and price. Although the gains of APT have been tiny, at 1.7% in the last 24 hours, the project’s partnerships and on-chain developments suggest that things are looking up. At the time of writing, the price of APT has risen to $8.30, contributing significantly to this upward momentum.
Despite the recent market downturn, there are indications of a possible market recovery, with significant gains being recorded in major coins such as Bitcoin and Ethereum. Aptos is one of the tokens that investors are looking to, as it has the potential to raise its value significantly.
One way in which crypto ecosystems support new projects that need funding is through competitions. Aptos Hack Holland is one such competition that is returning to discover new Web3 projects that will contribute to the growth of the industry. The event, which runs from June 5th to 7th, aims to generate the next wave of DeFi products and services on Aptos. The competition offers prizes in categories such as NFTs, DeFi, public goods, and more.
In addition to the recent excitement generated by Hack Holland, there are other projects in the pipeline that may enhance the positive sentiment around Aptos, such as the upcoming second playtest of Metapixels Gran Saga: Unlimited. Metapixel is the Web3 branch of the South Korean gaming company NPIXEL, which entered the world of Web3 in November last year. If the playtest is successful, we may see more games based on the Aptos blockchain, which could further fuel positive sentiment in the long term.
Another exciting development is the recent announcement of a strategic partnership between Quicknode and Aptos in the area of remote node infrastructure. This partnership is crucial to the success of Aptos, as a robust blockchain infrastructure will ensure the dominance of the Aptos blockchain.
To engage more developers with Aptos, the project has launched a developer hub with tutorials and documents to help developers get started building on the Aptos blockchain using the developer language Move. This consolidation of resources is also likely to impact the number of dApps that the platform will have in the future.
Despite reaching its all-time high in January, APT has been in decline since then. However, this may change in the coming days or months. Currently, the token is trading in a very tight range, which contributes to the upward trend. Investors and traders should defend the support level of $7.5 if the market shifts from bullish to bearish. Holding this support level will allow bulls to target the $12 range in the medium to long term. If momentum allows, we may even see a return to $16 in the long term.