Aptos (APT), a layer 1 proof-of-stake based blockchain, has seen a sharp increase in price recently. The trend for APT appears bullish as it is trading higher and sustaining above its key support level. The recent rise is reflective of the broader movement in the cryptocurrency market, indicating an overall upward trend.

The cryptocurrency market today is showing encouraging signs of growth. Bitcoin has surpassed the $64,000 mark. Ethereum is also doing well, maintaining levels around $2,500. Moreover, Solana is gaining steam, which seems to be driving the general uptrend of other altcoins. The continued rise of the top altcoins is fueling optimism across the market.

Aptos home prices soar as new development fund helps

Aptos’ price has surged following a new partnership between MEXC Ventures, Foresight Ventures, and Mirana Ventures. The firms created a fund to promote projects on the Aptos blockchain. The initiative aims to leverage Aptos’ unique technology and foster the development of decentralized applications and protocols.

Forest Bai, co-founder and CEO of Foresight Ventures, stressed that Aptos developers are solving key challenges facing the blockchain community. He claimed that the fund will begin to continuously support the innovation efforts of the Aptos ecosystem.

APT Price Prediction: Will the Price Hit $10 Soon?

Aptos price is rising, indicating an uptrend over the past 24 hours. As of reporting time, APT price is hovering at $6.83, registering a massive increase of 6.97% on the day. The price movement started from a low of $6.29 and climbed to a high of $6.92 before retreating to current levels.

The relative strength index (RSI) climbed into the upper half of the neutral zone at 61, suggesting that buying momentum is increasing. Meanwhile, the Chaikin Money Flow (CMF) indicator surged into positive territory at 0.16, suggesting that a large amount of funds are pouring into the asset.

According to Coinglass, trading volume for Aptos derivatives surged 47.28% to $318.55 million. Open interest in these derivatives also surged 14.97% to $112.26 million. The rise in trading activity and investor participation highlights the growing interest in Aptos’ financial instruments.

Currently, the Layer One token is facing challenges in breaking above the $7 level. A successful move above the critical $8 mark could trigger a major bullish pattern. Potential price points in the future include $9 and even $10, which accounts for 45%, indicating strong buying interest.

$APT