Layer One Blockchain, Aptos surpassed 2 billion in all-time transactions on December 27th. According to data, the overall transactions on the platform stood at 2.1 billion, making it a new milestone for Aptos.
The news, however, failed to keep the investors of the native token $APT upbeat as the coin continued its downward trading.
At press time, the token is trading at $8.91, down 4.85% as compared to the same time last day.
Aptos Rise in All-Time Transactions Comes As he Blockchain Takes Up Expansion Projects
Aptos has been taking up expansion projects and measures to ensure it has increased its user base and gained investor confidence.
Previously, the Aptos Foundation had decided to open a new office in a good location in Abu Dhabi. The network’s official release stated that the blockchain company had opened a new office in ADGM, Abu Dhabi’s leading international financial center.
Since the opening of the new office, the Aptos Foundation’s regional operations will be based in the Abu Dhabi office, which will fund initiatives to build relationships and broaden the Aptos ecosystem.
The move not only helped the blockchain firm to mint on the growing blockchain and crypto dominance in the Middle East but also reach out to more customers in rather relatively tranquil markets.
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Similarly, Aptos Labs bought HashPalette Inc., the company that developed the Palette blockchain to expand the userbase in Japan.
The agreement states that HashPort will transfer the Palette Chain and HashPalette’s apps to the Aptos Network. Joining the Aptos ecosystem would enable the Palette Chain community to innovate and grow their projects by giving them access to a comprehensive array of development tools, enhanced scalability, and enhanced security.
$APT Price: Will it Rise?
$APT price has been rather subdued due to a lack of optimistic cues for investors. The Fear & Greed Index for the token is currently at 73 (Greed), and the sentiment is currently bearish.
Over the previous 30 days, Aptos saw 16 out of 30 (53%) green days and 11.96% price volatility. With nine technical analysis indicators indicating optimistic signals and nineteen indicating bearish signals, the overall sentiment of Aptos price prediction is unfavorable.
One well-liked indicator for determining if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum wave. The APT market is in a neutral position at the moment, as indicated by the RSI reading of 39.09.
However, if the ecosystem does continue to develop and provide a rather upbeat growth, the price of $APT will also follow and ascend in the coming month.