Much-awaited Aptos cryptocurrency off to a rocky start: here’s where to buy Aptos

Aptos Labs’ newcomer cryptocurrency Aptos (APT) was off to a rocky start as its value continues to drop. Aptos price plunged further today in its debut on major crypto exchanges in a move seen as its welcome to the ongoing crypto winter.

Coinbase, FTX, OKX, Huobi, and Binance were among the first exchanges to open spot trading for APT at 1:00 UTC Wednesday.

In a dramatic turn of events, the token’s price had already dropped 30% since its launch to the time it was being listed on Coinbase at about $9. It then dropped almost immediately by a further 50% to trade at a daily low of $6.69. At press time, the coin was trading at $8.31 According to Coinmarketcap.

To help traders who want to jump onto Aptos at its current low price, Coinjournal has prepared a brief guide on where to buy the APT token.

To find out more, please continue reading.

Where to buy Aptos cryptocurrency

What is Aptos (APT)?

Aptos (APT) is the native cryptocurrency of the newly launched Aptos Autumn blockchain that was launched by Aptos Labs on October 17, 2022.  

Aptos Labs were the creators of the failed Diem stablecoin project that Meta Platforms Inc (formerly Facebook) had attempted to launch sometime back. Other products that Aptos Labs has developed to help users in We3 include the PetraWallet, AptosNames, and Aptos Explorer.

Despite the Aptos Autumn blockchain starting off to a controversy about its tokenomics which the team has spent much of the post-launch time dispelling, the team is also working to integrate the blockchain with a number of new innovations like novel key recovery, scalable sharding solutions, and intuitive parallel programming models to scale the user experience.

Should I buy APT today?

A majority of the crypto community has very high hopes for the newly launched Aptos blockchain and its Aptos (APT) token. Therefore, if you are looking to invest in a newly launched token at a low price, APT could be a good choice now that its price has plunged since its launch.

However, you should proceed with caution owing to the high volatility nature of cryptocurrencies and the fact that there are concerns about APT’s tokenomics and allegations about its processing speeds being lower than previously anticipated.

Aptos price prediction

It is difficult to give a precise Aptos price prediction and analysts expect the token to drop further in the coming days. However, the majority of investors are bullish on the cryptocurrency.

Aptos social media trends

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Immutable X down by 6% despite Nifty Gateway partnership: will it recover soon?

Immutable X partnered with Nifty Gateway a few hours ago, but that hasn’t been enough to push IMX higher in the short term.

IMX, the native coin of the Immutable X network, is down by more than 6% in the last 24 hours. The poor performance comes despite Immutable X announcing a major partnership.

The Immutable X team announced a few hours ago that it had partnered with Nifty Gateway, an all-in-one platform that empowers users to buy, sell, and store digital art and collectibles.

This latest cryptocurrency news means that Nifty Gateway is the first chain added outside of Ethereum that offers a premium and frictionless trading experience to the web3 gaming space on the Immutable X network. 

IMX’s poor performance also comes as the broader cryptocurrency market losses some of the gains it had accumulated earlier this week.

The broader market has lost more than 1% of its value today, with the total crypto market cap now at $925 billion.

Bitcoin is down by more than 2% in the last2 4 hours and is now trading at around $19,200 per coin.

Key levels to watch

The IMX/USD 4-hour chart is bearish, as Immutable X has been underperforming over the last 24 hours.

IMX/USD Chart By TradingView

The MACD line has been below the neutral zone for more than a month now, indicating that the bears have been in control for a while.

The 14-day relative strength index of 30 shows that IMX could soon enter the oversold region.

At press time, IMX is trading at $0.594 per coin. If the bearish trend continues, IMX could drop below the first major support level at $0.5492 before the end of the day.

With the broader market in a bearish state, IMX could record further losses over the coming hours and likely drop below the $0.515 support level for the first time in months. 

Where to buy now

Huobi

Start Your Cryptocurrency Journey Today. Huobi Global has a variety of features that make it an ideal place to buy and sell digital asset.

Buy IMX with Huobi today

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