The fundamentals indicate that the situation is not favorable, yet there is greenery in the cryptocurrency market.

Whales that have 1 to 10k bitcoins kept in their wallets have purchased $1.46 billion bitcoins since the year’s beginning, or around 65,600 bitcoins. We don’t know what the whales’ motto is, but many whales don’t make long-term investments for short-term profit. Whales are either in FOMO or it appears that the bottom has been formed. It remains to be seen if whales will sell or keep their bitcoin.

Partnership

A partnership exists between Pancakeswap and Aptos. Pancakeswap has almost 2 million registered users. They will all participate actively in the chain of aptos. Pancakeswap responsible for more than 55% of Aptos’ ecological activity. Pancakeswap allows us to perform farming, trading, and swapping on aptos.

Aptos’ Toconomics are Not Very Impressive.

Although they have a market supply of 160 million, their total supply is greater than 1 billion. Even though the price of APT tokens has increased by 250%, but more than 80% of the supply has not yet arrived on the market. If the apt token’s demand is not increased by introducing a use case, its price may appear to be dumped under pressure.

MOVE

When aptos was originally launched in the market, it was called the Solana killer. The key reason for this was that aptos uses the MOVE programming language, which has been utilised for onchain coding. In comparison to other programming languages, Move is a basic language. This will result in maximal web3 adoption since even developers with less expertise would be able to develop projects.

Parallel Block Optimization

To gain higher tps, They chose the alternative option of sharding. Network sharding divides the block into many sub-blocks. The divided version will have the same tps as the magnet, hence the tps will grow significantly.

When the project was launched, the Aptos network’s TPS ( Transaction Per Second ) on the Mainnet were at 4. The fact that its TPS is now 10 gives me great excitement since it shows that project development has begun and that usage is progressively rising.

In terms of blockchain…

The active validator is 103, showing that the network is fairly decentralized. There has been no increase in validator count in the last 3–4 months, but there is a potential of raising the validator count once the aptos token price increases.

Petra Wallet’s demo version has been available for some time but is not yet finished.

Naming Service

You’ve probably seen a large number of people on Twitter with the domain name .eth. On order to name the wallet in Web3, you must utilize a decentralized naming service. Such a project is about to start. So t he .apt domain will be available soon.

Matter of concern

There were 3 main breakouts. Apt has pumped about 50–60% in each breakout. The third breakout at $13 has grown to be a crucial level. After each breakout, there was a strong bullish momentum, but this time the momentum is a little weak. In short, the breakout power is weakening.

The positive trend will continue until it breaks through the $13 level. There is no reason to be concerned as long as the price is trading over $13.

If the level of $13 is broken, we will touch $10 immediately. The resistance level of $9 to indicates that a bounce is possible. What happens next will be determined by how it reacts when it reaches $9.

The reason for underlining the level of $13 is because, according to human psychology, people are no longer interested in purchasing an apt at such a high price. It has already risen from $3 to $14, and it is evident that few people would want to buy an at at such a high price.

Think

When there is confusion, analyze the situation from the perspective of human psychology and treat the chart’s key levels as the entire picture. Nobody knows how much the price will rise, but we do know where the support and resistance levels will be.

Apt has risen so quickly that a correction might occur at any time.

Real Example

The best example is axs. When axs gave a breakout from the level of $10 in the middle of 2021, the price skyrocketed. Then it was touched around $27 by flying like an apt. After that, there was a straight drop from $27 to $14, after which the bullish rally continued.

The bull run will undoubtedly come to an end at some time, and a correction will undoubtedly be formed. If the $13 level is breached, it means that the correction has turned into a star and will likely end at the $10 level. Don’t buy in a hurry, and always keep a stoploss.

I hope that many of your questions have been resolved in this article.

Disclaimer

This is not a Financial Advice. This article is meant only for educational purpose. I am just sharing my thoughts and analysis based on my many years of experience.