Aptos Surges Over 5% Amid Market Downturn, Trading Volume Jumps 150%
Amid a crypto market downturn, Aptos (APT) has increased by over 5.2% in the past 24 hours with trading volume spiking 150% to $214 million.
Catalyst: Wyoming’s Stablecoin Pilot
- Aptos was shortlisted by the Wyoming Stable Token Commission for its WYST stablecoin pilot program, scoring a perfect 32 among ten evaluated blockchains.
- Only Aptos and Sei were selected for the pilot, which is set to launch as early as July, backed by US Treasury yields.
- This initiative could generate significant revenue for Wyoming and positions Aptos as an essential player for future state-backed stablecoins.
Ecosystem Growth: Flipster & Chainalysis Partnerships
- Flipster partnered with the Aptos Foundation to enhance stablecoin accessibility, now supporting USDT deposits/withdrawals on Aptos.
- Chainalysis is collaborating with Aptos to improve security and transparency, sharing data on malicious actors through Chainalysis KYT.
Chart Analysis: Triangle Squeeze, Breakout Imminent?
- Aptos is trading within a descending triangle pattern, with resistance at $15 and support near $4.43.
- The RSI at 43 indicates bullish divergence, suggesting potential momentum return before a breakout.
- The MACD shows a bullish cross approaching, indicating reduced bearish pressure and possible upward movement.
- A break above the $5–$5.20 resistance could lead to a price target of $10–$11, nearly 150% increase from current levels.
APT Daily Chart | Source: TradingView