The Aptos Foundation and OKX Ventures have launched a $10 million fund called Ankaa to support blockchain projects on the Aptos network.
The fund will prioritize DeFi, RWA, gaming, social platforms, and AI projects.
While the global crypto market turns optimistic with various developments, the Aptos Foundation has partnered with OKX Ventures, the VC arm of the crypto exchange OKX, to launch a new $10 million fund named Ankaa. According to the August 1 announcement, this fund plans to support projects within the Aptos blockchain, targeting areas such as decentralized finance (DeFi), real-world assets (RWA), gaming, social platforms, and artificial intelligence (AI).
The Ankaa fund, managed collaboratively by Aptos, OKX Ventures, and Alcove—Aptos’ accelerator established in November last year—helps to boost innovation and growth within the Aptos ecosystem. Further, the fund is created to support various projects, prioritizing those that advance the blockchain’s development and the Web3 space.
Aptos Price Response and Market Trends
Despite this announcement, a backdrop of market volatility affected Aptos’ native token, APT. Following the news, APT displayed a decline of over 4%, dropping from a high of $6.68 to a low of $6.25. At the time of writing, the token was trading at $6.34, with a market cap of approximately $2.97 billion. Additionally, trading volume for APT has decreased significantly, down by over 44% to $94 million.
A key factor in the recent price drop is the upcoming release of over 11.3 million APT on August 12, which represents more than 2.4% of the circulating supply. According to Token Unlocks data, this event is expected to impact the token’s market performance.
Further, the recent price drop has weighted the sentiment around the tokens. A decline in this metric suggests increased bearish sentiment towards the asset. Social volume has also fallen, indicating a drop in popularity.
According to Coinglass data, APT’s open interest has decreased, signaling a trend reversal. However, the long/short ratio has risen, showing that bullish sentiment remains dominant with more long positions than short ones.
Moreover, Aptos’ liquidation heatmap reveals possible resistance and support zones. If bearish trends dominate, APT might fall to $5.58, with a leading drop to the $5 zone in the coming weeks. However, if the APT price controls the declines and finds an uptrend, the token could reach $7 with a further gain to the $7.5 zone.
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