Despite an exciting new partnership with innovative gas credit protocol Shinami, the Aptos (APT) price was subdued on Tuesday.
The Aptos price fell 4.5% on the session from highs around $9.30 to the $8.50s.
The price drop comes amid sell pressure across the crypto space, with most major coins dropping a few percent.
The debut of Bitcoin and Ether ETFs in Hong Kong was a dud, and macro remains a headwind. The Fed is expected reiterate patience when it comes to rate cuts at tomorrow’s meeting.
That helped kill any excitement about the partnership with Shinami.
Shinami is a protocol that allows dApps to purchase gas credits so that dApp users can transact for free.
We’re now on 2 chains! Excited to partner with @Aptos to support Move builders, starting with a gas credits program
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1/2 pic.twitter.com/00lKaCZtwX
— Shinami (@ShinamiCorp) April 29, 2024
And Aptos is giving dApp builders some of these credits for free to encourage development.
That should help spur development on the upcoming chain, which is good for its long-term prospects.
That being said, in the short-term, Aptos traders are focused on chart analysis.
With the Aptos price currently 55% down from last month’s highs, here is where it might go next.
Aptos Price Prediction – Where Might APT Go Next?
The $7.50 area is a key zone of support for APT. But with the 21DMA adding downside pressure to the price, a downside break could be coming soon.
That could open the door to a return to late-2023 lows in the $4.70 area.
Aptos remains a highly risky altcoin to invest in. Sure, its got a lot of potential.
After all, the blockchain was built by former Facebook developers (who worked on Libra). And, presumably, former Facebook employees are highly competent.
That being said, the blockchain will need to see further adoption to justify its hefty $3.6 billion market cap.
As per DeFi Llama, it last had $640 million in trade value locked (TVL).
That’s a good start. But for Aptos to be worth tens of billions it will need to have a TVL in the billions.
APT Alternative to Consider – Mega Dice Casino (DICE)
Crypto investors looking for investments with greater upside potential than Aptos should check out presale investing.
Web3 projects and protocols often sell their native tokens at a discount to early investors to raise funds for development.
If presale investors can find a good project that gains traction in the market, they can book exponential gains.
One project that analysts at Cryptonews are a big fan of is Mega Dice Casino.
This already well-established crypto casino has launched a presale of its utility token DICE.
DICE holders get big cashback benefits on their wagers and can also generate passive income via DICE staking.
The crypto casino is also running a $750,000 airdrop to reward early presale investors.
Don’t Miss Out! Join the $DICE Airdrop and Earn Your Share of a $750,000!
Learn how below
pic.twitter.com/OqbkcWR2LL
— Mega Dice Casino (@megadice) April 30, 2024
The project has already raised $660,000. And potential investors better move quickly, as when the $1 million milestone is hit, the DICE price will rise.
$DICE presale has raised $600k!
Only $400k left before next price increase
pic.twitter.com/j2UrXVvjpM
— Mega Dice Casino (@megadice) April 30, 2024
Check Out Mega Dice Casino’s Presale
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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