Upbit, a crypto exchange, stopped and resumed Aptos (APT) services after detecting a scam token called “ClaimAPTGift.com” that mimicked the real APT token. The scam token was created on September 21 and airdropped to 400,000 Aptos wallets, containing links to phishing websites.
Initially, South Korean cryptocurrency exchange Upbit failed to verify the source code of the scam token and recognized it as the real APT token, allowing some users to sell it and profit from it. However, afterward, Upbit fixed this issue on Sept. 24 and asked for refunds from the users who sold the scam token. The price of APT crypto on the Upbit is slightly higher than on other exchanges due to this incident.
At the time of writing, APT crypto is $5.26 with a minor drop of 0.94% with a trading volume of 56.732K and an average trading volume of the last 10 days is 97.209K. The Aptos crypto has a market cap of 1.245 Billion and an FD market cap of 5.55 Billion. APT has a circulating supply of 237.195 Million.
The performance of APT was lackluster throughout the year, it gave a negative return of -41.67% in a year, -53.04% in 6 months, -24.35% in the last 3 months, and -7.89% in a month. The performance data describes the prolonged downtrend of APT crypto.
Technical Analysis of Aptos Crypto Price in 1-D Timeframe
The ongoing trend favors bears, and the crypto was also in a corrective phase, which made buyers cautious. Moreover, the APT trades below the significant moving averages and tries to attain the 50-day EMA to hold the gains.
The price action of the APT crypto showed that selling pressure was noted on the charts and was in a downtrend, forming lower lows over the past few months. Moreover, due to declining investor interest, trading volume was below average. At the time of publishing, Aptos crypto (USD: APT) is trading above the 50 and 200-day SMAs (Simple moving averages), which do not support the price trend.
The current value of RSI is 0.02 points. The 14 SMA is above the median line at 0.02 points which indicates that the Aptos crypto is bearish.
The MACD line at 46.82 and the signal line at 60.03 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the APT crypto price.
Summary
Aptos (USD: APT) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the APT crypto price. Aptos Price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
- Support Levels: $4.33 and $3.14.
- Resistance Levels: $6.15 and $7.34.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/09/27/aptos-crypto-apt-crypto-price-surges-because-of-a-scam-token/