Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Aptos (APT) soared over 10% in the last 24 hours following Aptos Labs\u2019 acquisition of HashPallete. The token is leading the market after becoming the largest gainer among the top 100 cryptocurrencies by market capitalization. Related Reading: Bonk \u2018In Prime Position For Turbo Green Week\u2019 As Price Recovers Key Level Aptos To Expand Its Presence In Asia On Thursday, Aptos Labs, the developer of the Aptos network, announced it had agreed to acquire the Japanese Blockchain developer HashPallete, the company behind Japan\u2019s Palette Chain and a subsidiary of HashPort Inc. The agreement aims to become a \u201cgame changer for Japan and the Aptos ecosystem\u201d as the integration with the Japanese blockchain is set to strengthen its presence in the Asian market: Japan has long been a hub of technological innovation, and it\u2019s no different when it comes to blockchain. The country\u2019s unique blend of advanced tech and widespread blockchain adoption makes it a model for Web3 initiatives globally. Today, we\u2019re making one of our boldest strategic moves into this market with our agreement to acquire HashPalette Inc. As part of the acquisition, HashPort Inc. will migrate the Pallete Chain and its subsidiary\u2019s applications to the Aptos Network. The Japanese chain will also have access to the Aptos ecosystem\u2019s security, scalability, and developer tools. The migration is expected to be completed by early 2025, in time for the EXPO2025 DIGITAL WALLET. Moreover, Aptos Labs partnered with HashPort to support local developers, NFT creators, and enterprises by \u201ccontinuing to build blockchain solutions (\u2026) using Aptos Network\u2019s infrastructure.\u201d APT Leads The Crypto Market Following the announcement, APT\u2019s price saw a daily 11% surge, jumping to the $8.66 resistance level before retracing to the $8.51 mark. This performance crowned the token as the leading crypto amid the market retrace. APT is among the few cryptocurrencies recording green numbers in most timeframes among the top 100 tokens by market cap. The altcoin registers a 7.5% and a 41% increase in the weekly and monthly timeframes. Additionally, its daily market volume soared 41.7%, reaching a $769.6 million trading volume in the last 24 hours. The token\u2019s performance was highlighted by several crypto analysts, who considered that APT has the \u201cmost interesting chart\u201d at the moment. According to Yuriy from BikoTrading, the cryptocurrency looks strong as the rising trading volume and the price performance \u201csigns for continued growth.\u201d The trader noted that APT\u2019s price held above the key resistance zone amid the market retrace, which sent the token above Q3\u2019s range highs. Similarly, crypto trader Osbrah stated that APT has been \u201csecretly climbing its way to the most interesting alts charts.\u201d He pointed out that, after October 1\u2019s market sweep, the token had a \u201cclean bullish retest\u201d above the $8 mark. To the trader, the next big resistance is at the $9 mark, which could send APT\u2019s price to the $7.95 support zone if it fails to reclaim it. Meanwhile, another market watcher suggested that the altcoin\u2019s performance could be close to a breakout. Related Reading: Analysts Unfazed By Bitcoin (BTC) Drop, But Should We Fear October 5? Per the post, SUI and APT moved in a \u201ccatch-up trade\u201d path for the past year, moving closely together until SUI decoupled in early 2024. This led to a 44-day lagging period for APT before it followed SUI\u2019s movements. After that, APT rose 98% to its yearly high of $18.8 in mid-March. Now, APT has seen a 32-day lagging period after SUI decoupled again in September, showing \u201cincredible amounts of strength.\u201d Based on this, the analyst suggests that the cryptocurrency could follow SUI\u2019s trajectory and kickstart a massive rally in the next two weeks if history repeats. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":646177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[87237,85692,93141,93142,87322,1020,26263,10923,89756,93143,12565,93144],"class_list":["post-646172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-apt","tag-aptos","tag-aptos-labs","tag-aptos-network","tag-aptusdt","tag-blockchain","tag-crypto-analyst","tag-crypto-market","tag-crypto-trader","tag-hashpallete","tag-japan-crypto","tag-pallete-chain"],"acf":[],"yoast_head":"\n
Aptos (APT) Jumps 11% Following Acquisition Of HashPallette<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n