{"id":646172,"date":"2024-10-04T09:30:57","date_gmt":"2024-10-04T09:30:57","guid":{"rendered":"https:\/\/www.wncen.com\/?p=646172"},"modified":"2024-10-03T17:34:24","modified_gmt":"2024-10-03T17:34:24","slug":"aptos-apt-jumps-11-following-acquisition-of-japanese-blockchain-developer-hashpallette","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/aptos-apt-jumps-11-following-acquisition-of-japanese-blockchain-developer-hashpallette\/","title":{"rendered":"Aptos (APT) Jumps 11% Following Acquisition Of Japanese Blockchain Developer HashPallette"},"content":{"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.<\/p>\n

Related Reading: Bonk \u2018In Prime Position For Turbo Green Week\u2019 As Price Recovers Key Level<\/a><\/div>\n

Aptos To Expand Its Presence In Asia<\/h2>\n

On Thursday, Aptos Labs, the developer of the Aptos network, announced<\/a> it had agreed to acquire the Japanese Blockchain developer HashPallete, the company behind Japan\u2019s Palette Chain and a subsidiary of HashPort Inc.<\/p>\n

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:<\/p>\n

\n

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.<\/p>\n<\/blockquote>\n

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.<\/p>\n

The migration is expected to be completed by early 2025, in time for the EXPO2025 DIGITAL WALLET. Moreover, Aptos Labs partnered<\/a> with HashPort to support local developers, NFT creators, and enterprises by \u201ccontinuing to build blockchain solutions (\u2026) using Aptos Network\u2019s infrastructure.\u201d<\/p>\n

\"Aptos,
APT’s performance in the three-day chart. Source: APTUSDT on TradingView<\/a><\/figcaption><\/figure>\n

APT Leads The Crypto Market<\/h2>\n

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<\/a> crowned the token as the leading crypto amid the market retrace.<\/p>\n

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.<\/p>\n

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.<\/p>\n

According to Yuriy from BikoTrading, the cryptocurrency looks strong<\/a> 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.<\/p>\n

Similarly, crypto trader Osbrah stated<\/a> 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.<\/p>\n

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.<\/p>\n

\"Aptos\"
Aptos (APT) and SUI’s performance in the past year. Source: Cristi on X<\/a><\/figcaption><\/figure>\n
Related Reading: Analysts Unfazed By Bitcoin (BTC) Drop, But Should We Fear October 5?<\/a><\/div>\n

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.<\/p>\n

Now, APT has seen a 32-day lagging period after SUI decoupled<\/a> 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.<\/p>\n

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":"\nAptos (APT) Jumps 11% Following Acquisition Of HashPallette<\/title>\n<meta name=\"description\" content=\"Aptos (APT) leads the crypto market after the news of its expansion in the Asian market skyrocketed its price 11% 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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