Aptos launches state-of-the-art features- Can it save APT from the bears

• Aptos launched a new update that enables accurate accounting and calculations for DeFi applications. 
• However, APT’s price declined by over 9%, and market indicators were bearish, at press time. 

Aptos [APT], on 20 April, released an upgrade that added several new features to the network. As per the tweet, the newly launched update will provide support for high-precision integers U256, U32, and U16, enabling accurate accounting and calculations critical for various DeFi applications. 

🔹Network Feature Highlight🔹
Improved Calculation Precision with U256

With Aptos’ upgradeability, we’ve seamlessly launched mainnet support for high precision integers U256, U32 and U16, enabling accurate accounting and calculations critical for various DeFi applications.

— Aptos (@Aptos_Network) April 19, 2023

Realistic or not, here’s APT market cap in BTC’s terms

Aptos Node Release v1.2.4

The latest node release added exponential back-off to reduce timeouts for full nodes in low-bandwidth environments. It also brought in a few performance optimizations to reduce latencies and better handle timeouts.

Additionally, Aptos will now be able to allow the functionality outlined in its AIPs 1, 2, 3, and 4. Considering the features introduced, the new release has the potential to propel further network growth, which seemed to be in good condition.

As per Artemis’ chart, Aptos’ active addresses showed a rising trend since the end of March. Interestingly, the same remained true with Aptos’ transaction count as well, which registered an increase over the past few weeks. 

Source: Artemis

Aptos investors aren’t happy

As Aptos launched its update, the entire crypto market was experiencing bearish sentiments. The global crypto market cap declined by nearly 4% in the last 24 hours.

APT also fell victim to the bears, as its price declined by more than 9% in the last 24 hours. According to CoinMarketCap, at the time of writing, APT was trading at $11.36 with a market cap of over $2 billion. 

Source: Santiment

The plummet was accompanied by an increase in trading volume, which was most likely because investors were selling their assets. It is to be noted that negative sentiments around APT also spiked during this period, which was not a good sign for the token.

Nonetheless, APT’s one-week price volatility declined lately and this reduces the chance of another unprecedented price drop in the near term. 

How much are 1,10,100 APTs worth today?   

What to expect for APT?

A look at APT’s daily chart revealed more reasons for concern, as most of the market indicators were favoring the bears. For example, the Exponential Moving Average (EMA) Ribbon displayed a bearish crossover.

Furthermore, APT’s Relative Strength Index (RSI) was resting below the neutral zone, suggesting that a further price decline was likely. The Chaikin Money Flow (CMF) also registered a dip, which can be pretty troublesome for bulls in the future. However, APT’s Money Flow Index (MFI) remained bullish as it went up slightly. 

Source: TradingView