Aptos

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The bankrupt crypto exchange FTX is seeking to gain court approval to liquidate $3.4 billion in cryptocurrencies. This liquidation approval is likely to come by September 13.



However, FTX’s court documents suggest that the exchange will likely offload a maximum of $100 million in digital assets weekly. This could make the potential bearish effect on the market more gradual as opposed to a sharp fall in asset prices if FTX were to liquidate all of its assets immediately. 



As of January 17, FTX held $685 million in Solana (SOL), $67 million in Dogecoin (DOGE), and $42 million in Dogecoin (DOGE), among other assets. In this article, we will take a look at the price movement for all three coins and determine the potential impact of the FTX liquidation.



Solana (SOL) Price Risks Breakdown From 256-Day Support Line



The SOL price has increased alongside an ascending support line since the beginning of the year. While doing so, the price reached a new yearly high of $32.13 on July 14. 



However, the price has moved downwards since. After creating a lower high (red icon), SOL accelerated its rate of decrease, reaching a low of $17.36 on Sept.11.



        
          
            Stay ahead in the game with Solana (SOL) price forecasts.

          
        
      
    



The low validated the ascending support line for the first time since June 15 (green icon). So far, the line has been in place for 256 days. Whether the price breaks down or bounces can determine the future trend. 



SOL/USDT Daily Chart. Source: TradingView



The daily RSI is bearish, suggesting that the price will break down. Market traders employ the RSI (Relative Strength Index) as a momentum indicator to detect overbought or oversold conditions in a market and make decisions regarding asset accumulation or selling. 



Readings above 50 in conjunction with an upward trend suggest that bulls maintain an advantage, while readings below 50 indicate the opposite, signaling potential bearish conditions.



A 20% drop to the next closest support at $14 could occur if a breakdown occurs. On the other hand, a strong bounce can lead to a 50% increase that takes the price to the $27 resistance area.



Dogecoin (DOGE) Returns to Support After Rejection



The DOGE price had increased alongside an ascending support line since June 10. However, the price broke down from this line on August 15, indicating that the previous upward movement had ended. The breakdown led to a low of $0.055 on August 17.



The price bounced afterward, creating a very long lower wick (green icon) and reclaiming the $0.060 horizontal support area.



        
          
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Despite the bounce, DOGE was rejected by the 0.382 Fib retracement resistance level at $0.066 (red circle). After the rejection, the price again fell to the $0.060 horizontal support area. 



Similarly to SOL, the daily RSI is bearish. The indicator is below 50 and falling, both signs of a bearish trend. 



DOGE/USDT Daily Chart. Source: TradingView



If DOGE breaks down, a 12% drop to the yearly low at $0.053 will be expected. On the other hand, if the movement regains momentum, the meme coin can increase to the 0.5 Fib retracement resistance level at $0.070.



Aptos (APT) Price Approaches Yearly Low



The APT price has fallen since its all-time high of $20.40 on January 24. Initially, the downward movement stopped on June 10 at a low of $5.40. The ensuing bounce (green icon) caused the price to reclaim the $5.80 horizontal area and validate it as support. 



        
          
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However, the price failed to maintain the support area and broke down in September. Similarly to SOL and DOGE, the daily RSI Is bearish, showing no signs of an impending bullish trend reversal.



APT/USDT Daily Chart. Source: TradingView



If the decrease continues, Aptos can fall by another 35% and reach its yearly low at $3.30. On the other hand, if a bullish reversal transpires, APT can increase by 20% and validate the $5.80 area, which is now expected to provide resistance.



For BeInCrypto’s latest crypto market analysis, click here.
The post What Will Happen to Dogecoin (DOGE), Solana (SOL), and Aptos (APT) as FTX Readies to Dump appeared first on BeInCrypto.


These three altcoins could be negatively impacted by the FTX liquidation.
The post What Will Happen to Dogecoin (DOGE), Solana (SOL), and Aptos (APT) as FTX Readies to Dump appeared first on BeInCrypto.


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What Will Happen to Dogecoin (DOGE), Solana (SOL), and Aptos (APT) as FTX Readies to Dump


The decentralized exchange (DEX) SushiSwap has announced it is expanding to the Layer 1 blockchain Aptos.



As the decentralized ecosystem evolves, multiple blockchains are likely to co-exist. Hence, DEXes constantly try to bring liquidity across major blockchain networks. 



SushiSwap Aims to Leverage Aptos’s Technology



In an announcement on Monday, SushiSwap confirmed its expansion to the Aptos blockchain. Last month, the DEX also expanded to Coinbase’s Base network.



While SushiSwap is widely available across many Ethereum Virtual Machine (EVM) compliant blockchain networks, with Aptos expansion, it has now set its footprint to a non-EVM chain.



Click here to read our ultimate guide to the Aptos network.



Aptos’ Move programming language has attracted the attention of SushiSwap to launch its v2 Automated Market Maker (AMM) on the Layer 1 protocol. Moreover, the DEX said that it has planned more integration with Aptos.



SushiSwap explains Move as follows:




“Designed for smart contracts, the Move programming language empowers developers to create applications simply, securely, and swiftly.”




Click here to read our guide on smart contracts.



However, per data from the Token Terminal, Aptos’ core developers have declined by 35% in the past 365 days. But on the brighter side, the core developers have increased by 9.8% in the past 90 days, trying to reclaim the 2022 highs.



As of Sunday, 67 core developers are building on the Aptos network. Token Terminal defines core developers as follows:




“Number of distinct GitHub users that that made 1+ commits to the project’s public GitHub repositories during the past 30 days.”




Aptos daily core developers. Source: Token Terminal



The announcement has not significantly impacted the price action of either SUSHI or Aptos network’s APT token. The screenshot below shows that in the past 24 hours, the price of SUSHI has declined by nearly 3%, whereas the price of APT has fallen by 3.87%.



SUSHI and APT price. Source: BeInCrypto



Do you have anything to say about SushiSwap Aptos expansion or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).



For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
The post SushiSwap Completes First Non-EVM Chain Deployment on Aptos appeared first on BeInCrypto.


Decentralized Exchange SushiSwap has expanded to the Layer 1 blockchain Aptos, marking its first deployment on a non-Ethereum Virtual Machine chain. The move aims to leverage Aptos' Move programming language.
The post SushiSwap Completes First Non-EVM Chain Deployment on Aptos appeared first on B...

Aptos price	$5.11
Low - High 24H	$5.08 - $5.16
Market cap	$1.21B
Volume 24H	$21.04M
All time high	$19.92 -74.37% January 26th 2023
All time low	$3.08 65.76% December 29th 2022
Genesis date	N/A

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