“Solana Killer” Aptos (APT) gained 27 percent. Ethereum rival Fantom (FTM) is up 31 percent after it was announced how much money it has. BONE, the governance token of the Shiba Inu ecosystem, continues to rise with the positive news feed. Altcoin projects, which are the favorite of the Turks, are progressing from the green line in the market.
Aptos (APT) up 27%, what’s in the background?
The price of APT has increased by more than 25% in the last two weeks. The token is closing with a positive result for two consecutive weeks, for the first time since its listing. Interestingly, the APT price increased at a relatively low level of interest, according to CoinMarketCap trading volumes. For example, in the past 14 days, trading volumes have only exceeded $140 million twice, which could previously be considered the minimum for this crypto asset.
In fact, there is no particular reason for the APT price to rise so much. However, it is necessary to look at both the fundamental and technical aspects of this action. Speaking of the performance of Aptos as a Blockchain, the number of addresses is also increasing. Meanwhile, the daily transaction count stands at around 600,000. In addition, the amount of gas fees is also increasing. Also, this provides additional income for Blockchain.
Altcoin price action
When it comes to the APT price chart, an interesting picture emerges. APT, which has been accumulating since mid-November, broke the resistance of the 200-day moving average. It also tested two more times in the last month afterward, breaking above the crucial $5 level. APT is currently on the way for $5.5. According to analysts, if it manages to overcome this, the rate could rise to a block around $7.
Revealed its financial position, Phantom (FTM), up 31%
Fantom’s native blockchain token FTM is up 31%. The altcoin continued to rise throughout the week. The reason for such a huge positivity in the price of the crypto asset is probably the recent statement by Andre Cronje, a well-known DeFi developer, and the founder of the project, regarding the financial situation of Phantom.
As we reported as Kriptokoin.com, Fantom’s financial assets are approximately 350 million dollars. Experts say this is enough to sustain the project for another 30 years. Also, this data gives accurate information for comparison with other metrics that determine FTM price. Therefore, comparing the size of Fantom’s assets with FTM’s current market cap of $600 million and the total value locked in the $460 million project makes it easier to make investment decisions.
BONE up 10% with positive news feed
BONE, the governance token of the Shiba Inu ecosystem, has jumped 12% in the last 24 hours. This happened at a time when most altcoin projects recorded losses or minimal gains in that time frame. At press time, BONE was trading at $0.93, up 11.31%. The increase also coincides with a 25% increase in BONE’s trading volume. The altcoin project has a trading volume of $5,566,761 in the last 24 hours.
BONE is also up a staggering 28% over the past seven days due to positive feedback from investors and the stock market listings it posted last week. Last week, New York-based crypto trading platform Uphold announced that it had listed BONE on the platform. A day before this announcement, SunCrypto, one of the leading cryptocurrency exchanges in India, also announced the launch of BONE on its platform. Likewise, it’s possible that positive techniques helped push the BONE price up.
In recent weeks, BONE has risen in the crypto market rankings. According to CoinMarketCap data, BONE has a market cap of $146,460.221. At this value, it is currently the 148th largest cryptocurrency. Meanwhile, BONE outperforms SHIB, a key token in the Shiba Inu ecosystem. At the time of writing, SHIB was up 0.16% to $0.0000093 while consolidating ahead of a big move.
Altcoin is getting a big run
BONE posted a double bottom bullish pattern on the lows of $0.60 on Nov. 22. It has been exploding ever since. BONE from November 22 saw positive price action in 11 of 12 days. Specifically, since November 27, BONE will celebrate the sixth consecutive green day of price action.
BONE also highlighted its bullish breakout by breaking key resistance levels at the daily MA 50 and 200. Also, the daily RSI has not yet reached the overbought level of 70. This suggests that the run will probably take some time before fatigue sets in.
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