Aptos Price Prediction as APT Pumps Another 30%, Taking Monthly Gains to 365%
APT, the token that powers new up-and-coming layer-1 blockchain Aptos, stormed another 30% higher on Friday to rise above $16 per token for the first time. Year-to-date gains now stand at a stunning 365%, with the bulk of these gains coming in wake of a volume surge that began back on the 8th of January.
APT’s rally has been in part powered by a broader move higher in crypto since the start of the month which has, for the most part, been fuelled by macro-optimism (for easier monetary policy this year and next). Some analysts have also cited growth in trading volumes on Aptos-based NFT marketplace Topaz as boosting interest in the recently launched layer-1 blockchain.
But aside from this, there doesn’t seem to any other notable fundamental catalysts driving the cryptocurrency higher. As a result, crypto Twitter community members are increasingly skeptical of the sustainability of the gains. According to @Z_Humphries, Aptos is a “new shiny L1 and a lot of the VC money that left Solana could be going here… just a guess”. VC stands for Venture Capital – these are essentially hedge funds that invest in speculative projects in order to make quick money.
New shiny L1 and a lot of the VC money that left Solana could be going here… just a guess
— Zach Humphries (@Z_Humphries) January 23, 2023
At present, Aptos is the 26th most valuable cryptocurrency by market capitalization according to the number of in-circulation APT coins. Its current market cap is just over $2.5 billion. However, this ranking jumps to 7th place when supply is fully diluted, with a value of over $16 billion.
Twitter user @nay_gmy notes that this is even higher than Solana, which Aptos was designed to “kill”. This short “is too good to pass”, the Twitter user continued.
Sure might go higher if the market continues to pump, but this short is too good to pass. pic.twitter.com/XeEdAIBt2B
— Nay (@nay_gmy) January 23, 2023
Various other Twitter users are accusing the Aptos pump as being driven by venture capital (VC) funds that want to dump their bag.
VC pump I would guess.
— Cliff Driscoll (@DriscollCliff) January 23, 2023
Other user criticized Aptos’ allocation to insiders. Early investors and the Aptos Foundation have been allocated roughly half of the 1 billion tokens that can eventually be issued. At the moment, only 16% of tokens have been issued, with many of the insider-owned tokens vested for extended time periods.
Build up for exit liquidity.. look at the token % allocated to insiders
— $olezigaba (@olezigaba17) January 23, 2023
Where Next for Aptos (APT)?
Aptos continues to surge within the confines of a short-term upwards trend channel. Bears would be wise to wait for this upwards trend channel to break before betting on a sustained pullback.
The 14-Day Relative Strength Index (RSI) is screaming overbought at its current value of 87. If the uptrend does break, APT could quite easily drop just as quickly as it has rallied. Downside targets include resistance levels at $10.40, $8.80, $7.10 and $5.40.
Altcoins to Consider
Cryptocurrency markets have been performing well since the start of 2023, but the longer-term bear market remains very much still in play. Investors might still want to consider diversifying their holdings with the discounted presale tokens of some promising, up-and-coming crypto projects. Here is a list of a few that analysts at InsideBitcoins think have the potential to perform well.
Fight Out (FGHT) – Presale on Now
The young move-to-earn crypto niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, so far, prevented them from conquering the mainstream. Fight Out, which touts itself as the future of move-to-earn, wants to change that in 2023. Fight Out is a brand new web3 fitness application and gym chain that rewards its users for working out, completing challenges, and competing within a first-of-its-kind fitness metaverse.
While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, Fight Out takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part. Fight Out seeks to combine the physical and web3 worlds.
The project aims to eventually acquire gyms across all of the world’s major cities, whilst simultaneously promoting an integrated web3 fitness experience. At the center of Fight Out’s digital ecosystem will be its smartphone application which, according to Fight Out’s whitepaper, is scheduled for launch in Q2 2023.
The Fight Out app will harness smartphone and wearable technology to measure and track physical performance. The app will have its own in-house tokenized economy, where users can earn rewards for completing M2E tasks, and can mint their own soul-bound token avatar, through which the user will be able to interact with the Fight Out metaverse.
FGHT is the token that powers the Fight Out metaverse ecosystem. Users will pay to enter competitions and leagues with FGHT, and winning will be paid out in FGHT.
FGHT can also be used in peer-to-peer fitness wagers. Fight Out’s FGHT tokens are currently selling for 0.01714 each, and interested investors are encouraged to move fast to secure their tokens as this price is set to rise again in less than 12 hours. The pre-sale having already raised over $3.4 million in just a few weeks and looks like it may hit the $15 million hard cap ahead of 31st of March, when the presale is scheduled to end.
C+Charge (CCHG) – Presale Now On
The carbon credit industry is projected to be worth $2.4 trillion by 2027. Democratizing access to accrue these benefits is going to massive business in the years ahead and this is something crypto start-up C+Charge hopes to achieve. C+Charge is currently building a blockchain-based Peer-to-Peer (P2P) payment system for EV charging stations that will allow the drivers of electric vehicles (EVs) to earn carbon credits.
C+Charge aims to boost the role of carbon credits as a key incentive for the adoption of EVs. At present, large manufacturers of EVs like Tesla earn millions from selling carbon credits to polluters. C+Charge wants to democratize the carbon credit market by allowing more of these rewards to find themselves in the hands of the EV owners, rather than just the big businesses.
C+Charge has just started its pre-sale of the CCHG token that its platform will use to pay at EV charging stations. Tokens are currently selling for $0.013 each, though by the end of the presale, this will have risen by 80%. Investors interested in getting in early on a promising environmentally friendly cryptocurrency project should move fast, with the project having already raised over $385,000 in just a few weeks since the presale launch.
Investors should note that the remaining tokens could be scooped up quickly. A crypto whale recently scooped up over $99 worth of CCHG in one transaction, as can be verified here on BscScan.
Calvaria (RIA) – Pre-sale Nearly Over
RIA, the token that will power afterlife fantasy-themed NFT battle card game Calvaria, is also currently in presale. The play-to-earn (P2E) crypto gaming start-up has raised close to $3.0 million in just a few months since the launch of its pre-sale. Only around a small percentage of presale tokens remain up for grabs and the presale will close in only six days, so investors should move quickly.
Calvaria seeks to bring crypto gaming into the mainstream by tapping into a huge, existing market – the market for physical battle card games (think viral sensations of the past like Pokemon and Yu-Gi-Oh). And with the crypto gaming space expected to grow from $4.6 billion in size in 2022 to $65.7 billion in size by 2027, according to an analysis by Markets and Markets, there is plenty of room for massive growth. Calvaria is set to launch its headline fantasy-themed card game “Duels of Eternity” in Q2 2023.
Fight Out (FGHT) – Newest Move to Earn Project
- CertiK audited & CoinSniper KYC Verified
- Early Stage Presale Live Now
- Earn Free Crypto & Meet Fitness Goals
- LBank Labs Project
- Partnered with Transak, Block Media
- Staking Rewards & Bonuses