A rise in the popularity of Aptos (APTO), the cryptocurrency powering the recently launched Aptos layer-1 blockchain protocol, is evident seeing Tuesday’s surge in trading volumes. CoinGecko data indicates APTO trading volumes were roughly $300 million in the last 24 hours. It’s an impressive figure given APTO’s modest market cap of around $1.67 billion. Currently, the cryptocurrency is up by approximately 6% trading near $8.0 per token. It benefitted from technical bullish momentum after breaking above a downtrend that persisted since mid-April and the 50-day moving average (50DMA).
The upside potential might have been spurred by the steady performance of crypto titans like bitcoin (BTC) and ether (ETH), coupled with rising transactions on the Aptos network. The official Aptos blockchain explorer registered 230,000 transactions on Monday, marking an approximate increase of 70,000 from this time last month. This could signal increased whale activity or at the very least, signify rising utilization – aspects bullish for the APTO price.
As APTO conquers its downtrend from the April highs and its 50DMA, price predictions steer towards optimism. Bulls eye a retest of supportive resistance in the realms of $9.50 and $11.0. However, for APTO to affirm this surge, it also needs to break above the downtrend from late-January’s yearly highs, which linger around $20. The 200DMA at $9.88 also manifests as a formidable zone of technical resistance. Provided the broader crypto market maintains its bullish trend, Aptos has a strong possibility of pumping up.
That said, diversity in investments is paramount for crypto enthusiasts. A potent high-risk-high-reward investment strategy worth contemplating is crypto presales. This involves buying up tokens of upcoming crypto projects to fund their development. Presale tokens are usually sold cheap and have historically delivered substantial exponential gains to early investors.
One noteworthy project is the Thug Life Token ($THUG). Despite launching merely days ago, this breakout meme coin has garnered over $300,000 through its $THUG token presale. Barring the focus on outmoded dog memes or transient social media trends, $THUG is themed around the timeless Thug Life movement, popularized by hip-hop legends like Snoop Dogg in the 80s.
Given $THUG’s presale price of $0.0007 and total maximum supply of 4.2 billion, Thug Life Token presale values the coin at a conservative full market cap of $2.94 million. This relatively small presale market cap leaves abundant room for explosive growth.
However, meme coin enthusiasts ought to act swiftly since the $THUG presale will conclude once it hits the $2.058 million fork or the 13-day countdown expires. Following the presale, $THUG tokens can only be acquired via airdrops, community rewards campaign, or potentially at elevated prices on major decentralized exchanges (DEXs).
Source: Cryptonews
