Aptos Labs, the developer of the Aptos blockchain, has revealed plans to acquire HashPalette Inc., a subsidiary of HashPort Inc. and the creator of the Palette blockchain. 

The acquisition, which is still pending regulatory approval in Japan, is expected to deepen Aptos’s foothold in the region and bolster its relationships with prominent Japanese companies. Aptos’s entry into the Japanese market signals the company’s broader ambition to provide scalable blockchain solutions to technologically advanced economies.

Strengthening Market Presence in Japan

HashPalette, reported to have already forged partnerships with major Japanese enterprises like KDDI, will serve as an entry point for Aptos into Japan’s corporate sector. This acquisition is seen as a strategic step for Aptos, allowing it to leverage HashPalette’s established network of relationships to gain access to some of the most influential companies in Japan.

With these existing ties, Aptos hopes to accelerate Japanese businesses and institutions’ adoption of its blockchain solutions.

Acquisition Conditions and EXPO2025 Integration

While the acquisition deal between Aptos Labs and HashPalette represents a significant milestone, it is subject to regulatory approvals from Japanese authorities and other customary closing conditions.

Once completed, the integration of Aptos’s technology is expected to play a prominent role in upcoming global events, notably EXPO2025. Participants in the EXPO2025 event will have the opportunity to interact with NFTs, digital assets, and decentralized applications. 

Market Reaction: Aptos Token Price Surges

Following the announcement of the acquisition, Aptos’s native token (APT) experienced a notable rise in value. As of press time, Aptos was trading at $8.92, marking a 9.92% increase in the past 24 hours. 

Prior to the price jump, Aptos had traded within a range of $8.1773, showing fluctuations that stabilized between 4 PM and 8 AM. However, after 8 AM, the asset showed a clear upward trajectory, climbing to $8.85 by noon, highlighting intense buying pressure during this period.

Source: CoinMarketCap

Using Binance’s daily candlestick chart of APT/USD, the recent upward price movement displays multiple peaks, signifying volatility. More notably, the price held during the early hours of the day and then broke through a key resistance level at $8.5 to reach a peak under $9.00 before noon. 

The upward momentum, confirmed by the MACD indicator, crossed above the orange signal line and had a positive (green) histogram. This crossover is generally interpreted as a solid bullish signal that the recent price activity may continue in the short term.

Source: TradingView

However, the RSI, currently stands at 68.72. With the RSI nearing the overbought threshold of 70, the token’s price may face short-term resistance or a potential consolidation phase as the market adjusts to these higher levels. 

The post Aptos Price Prediction October 4: Aptos Jumps 9.92% After HashPalette Acquisition News, But Can It Sustain Bullish Momentum? appeared first on Coinfomania.