Aptos Price Surges 27% on Ecosystem Growth; ETF Application Filed
Aptos, a new cryptocurrency, has seen a significant price surge and strong ecosystem growth. Meanwhile, a major financial institution recommends crypto exposure in growth portfolios, and a notable company has applied for an Aptos ETF.
Aptos price has been on an upward trajectory, surging by 27% over the past week. This impressive growth can be attributed to several ecosystem partnerships. Despite a 3.5% dip in the past 24 hours, the overall trend remains bullish, with the token breaking out from a descending triangle pattern. September proved to be a strong month for the Aptos ecosystem, with app revenue reaching $4.43 million.
However, a potential challenge looms on Oct. 11, with over $60 million worth of APT tokens set to be unlocked. This represents approximately 2.15% of the circulating supply, which could lead to selling pressure and downside risk for the token. In other news, Bitwise has filed an application for an Aptos ETF, with Cyber Hornet being the company behind the application. Historically, October has been a bullish period for major cryptocurrencies, which could bode well for Aptos' future performance.
Aptos' price surge and strong ecosystem growth have positioned it as a promising cryptocurrency. While a significant token unlock may present temporary challenges, the long-term outlook remains positive, especially considering the bullish historical trend of October and the potential listing of an Aptos ETF. Morgan Stanley's recommendation of up to 4% crypto exposure in growth portfolios further underscores the growing acceptance and potential of cryptocurrencies in investment portfolios.
Read also:
- Amazon Halts Drone Deliveries After Arizona Crashes
- US Energy Transition: Coal Plants Struggle, States Push Renewables
- Musk threatens Apple with litigation amidst increasing conflict surrounding Altman's OpenAI endeavor
- U.S. Army Europe & Africa Bolsters Regional Security with Enhanced Partnerships & Deterrence
