Monat: Oktober 2023

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Aptos bullish after the anniversary outage, here’s why APT price is rising

  • There has been some substantial in-game activity on the Aptos Arena.
  • There has also been an overall positive sentiment in the cryptocurrency market.
  • The price of Aptos (APT) token has climbed by 21% over the last 7 days.

The Aptos (APT) cryptocurrency has been making headlines with its impressive performance, recently breaking through the $6 mark, and gaining a staggering 21.01% in the past week alone. The token is rising four days after Aptos suffered a five-hour outage. The outage coincided with the same week that Aptos was launched in 2022.

This remarkable price surge has piqued the interest of investors and crypto enthusiasts. But what is driving this extraordinary growth in the Aptos network, and why is it attracting significant attention?

Aptos’s rapid expansion and global presence

Aptos Network has been experiencing rapid expansion, with a notable milestone of 112 nodes operating around the world. These nodes are strategically distributed across 25 different countries and 50 cities, ensuring a resilient and globally accessible network infrastructure.

The increase in the number of nodes plays a crucial role in enhancing the stability and security of the network, attracting more users and developers to participate in the Aptos ecosystem.

In-game activity on Aptos Arena

One factor contributing to Aptos’ remarkable growth is the burgeoning adoption of its online multi-player game platform, the Aptos Arena. The Arena is seeing a surge in activity with over 12,000+ unique players, 67,000+ spawns, and a staggering 150,000+ transactions as of October 23.

The game is sprawling with activity as gamers compete to spawn and earn APT for every kill. There are also over $10,000 in giveaways plus NFTs.

These statistics highlight the robust engagement within the Aptos Arena, indicating its popularity and the thriving in-game ecosystem it offers.

APT price analysis

Aptos (APT) is currently trading at $6.0596 with a market capitalization of $1,491,384,688, securing its position at 33 in the cryptocurrency market.

The trading volume in the last 24 hours reached $455,290,068, ranking Aptos at #12 by volume. With a circulating supply of 246,120,278 APT and a total supply of 1,061,598,542 APT, Aptos demonstrates a healthy token distribution. The fully diluted market cap for APT is estimated at $6,430,581,495.

Notably, Aptos has experienced significant price fluctuations, with its all-time high recorded at $19.90 on January 30, 2023, and an all-time low of $3.09 on December 30, 2022. Despite these fluctuations, the recent bullish trend indicates that Aptos is making strides to reclaim its previous highs.

The post Aptos bullish after the anniversary outage, here’s why APT price is rising appeared first on CoinJournal.

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Bitcoin hints at sell signal after hitting 3-month high

  • Bitcoin price hit $30,369 on Saturday, its highest level since July.
  • While bulls could push higher in coming weeks, the immediate outlook suggests a bearish flip.
  • Crypto analyst Ali points to the TD Sequential indicator as hinting at a sell signal.

Bitcoin price rose to its highest level since July when it broke above $30k to reach highs of $30,369 on Saturday. BTC is indeed looking for its fourth-biggest weekly gains year-to-date.

However, although the benchmark crypto trading around $29,950 at the time of writing, an analyst says further retreat is possible given the potential for a key bearish signal.On the upside, market observers see a flip and weekly candle close above $31k as what bulls need to take control of the prevailing volatility.

BTC price shows sell signal

According to crypto analyst Ali, the potential for a head-and-shoulders pattern for BTC on the daily chart has received greater attention across the market. And in a chart shared on X on October 22, the analyst points to the possibility of the scenario unfolding given a key bearish signal – the TD Sequential indicator.

Other than the sell signal hinted at after BTC price rose over the past several days, the overextended outlook is added to by the daily RSI that has previously triggered notable pullbacks.

“The $BTC daily chart hints at a possible sell signal emerging tomorrow, based on the TD Sequential indicator flashing a green 9 candlestick. Not to mention, the RSI reached 74.21 — a level triggering sharp corrections since March,” Ali wrote on X.

Based on this outlook, the analyst noted:

“An impending price correction appears to be on the horizon unless #BTC manages to clock a daily candlestick close above $31,560.”

A flip lower from the current resistance zone, and confirmation of the H&S pattern could mean a retest of immediate support around $28,492. A slight sell-off could also reignite the bearish target of $25k. 

The flipside could be catalysed by positive ETF news, with buyers targeting a run to the $40k area.

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Chainlink price: LINK jumps 13% to hit 1-year high

  • Chainlink (LINK) price has surged more than 23% in the past week.
  • On-chain data shows LINK price soared amid whale accumulation.
  • Most of the whale accumulation and massive uptake has been on South Korea exchanges Bithumb and Upbit.

Chainlink (LINK) price traded above $9.75 on Sunday, hitting its highest level since May 2022 amid a positive broader crypto market. The price of LINK was up 13% in the past 24 hours and 23% in the past week at the time of writing.

But as LINK price eyes a retest of the $10.00 level, analysts looking at on-chain data say traders are likely to benefit if they watch out for whale activity.

Why has LINK price been soaring?

Chainlink, whose oracle network is seeing staggering adoption, including after its Cross-Chain Interoperability Protocol (CCIP) went live, has been one of the top performers in the crypto market amid the latest bullish sentiment.

According to on-chain analytics and smart money account Lookonchain, the surge in LINK price coincided with whale accumulation and massive uptake on South Korea exchanges Bithumb and Upbit. During the price surge, data indicates the two leading Korean exchanges accumulated 945K LINK, worth about $9 million.

Currently, exchanges hold roughly 202.6 million LINK, which represents 20.26% of total supply and is valued at about $1.9 billion. While 37.45 million is currently staked by holders, there are “many giant whales of $LINK,” including one with 81 addresses holding over 11 million tokens and another with 38 addresses holding over 8.35 million LINK tokens.

Chainlink price outlook

As well as the 30-day time frame, Chainlink’s native token is up over the past one-year, with its current price a 52-week high. However, while LINK/USD has enjoyed some upside episodes year-to-date, prices were largely constrained below the $8.60 mark. Chainlink also fell to lows of $4.77 in June this year.

Chainlink price on weekly chart. Source. TradingView

On-chain data suggests whales could be looking for some profit deals after aggressive accumulation over the past several weeks. The outlook comes after Chainlink (LINK) whale activity soared to new highs.

Whale activity was also behind LINK’s surge in July. The latest price spike is likely to attract some downside pressure.

“This whale bought 1.25M $LINK ($9.5M) on-chain at an average price of $7.58 and has made a profit of $2.1M at the current price. Be wary of whales selling $LINK for profit,” Lookonchain posted on X.

While continued whale accumulation portends possible near-term price explosion, its likely the spike to near $10 could come with some sell-off pressure.

The post Chainlink price: LINK jumps 13% to hit 1-year high appeared first on CoinJournal.