Crypto Market Watch: Why Aptos (APT) and Fetch.ai (FET) Are Surging Today?
The altcoin market is led by Aptos (APT) and Fetch.si (FET), is on a bullish sentiment following Bitcoin’s surge to $19k in the past 24 hours. According to our latest crypto price oracles, Aptos price is exchanging at $6.34, up approximately 22 percent in the last 24 hours.
Notably, the APT price is up over 70 percent in the last seven days and market analysts believe there are more upside gains. The Aptos network has a market capitalization of approximately $813,689,465 and a 24-hour trading volume of about $557,229,215.
The Fetch.ai (FET) price, on the other hand, is trading around $0.233030, up approximately 24 percent in the last 24 hours. Notably, the FET price has surged over 115 percent in the last seven days with more gains in the last few hours. The FET network has a market capitalization of approximately $241,423,231, and a 24-hour trading volume of about $185,789,732.
While speculation and FOMO are largely attributed to the recent crypto pump, the utility has played a significant role in specific projects. For instance, Fetch.ai (FET) is developing a decentralized ecosystem on the autonomous of Things (AoT).
Notably, the Fetch.ai network is an interchain protocol, based on the Cosmos-SDK, and uses a high-performance WASM-based smart contract language (CosmWasm). As such, it allows the Fetch.ai network to serve as a layer-1 network for Ethereum and as an interchain bridge to the rest of the blockchain world.
From a technical standpoint, the FET price could end the week trading around $0.25 or beyond. Such a scenario could be invalidated if the weekly derivative bar closes on a bearish wink. In that case, the FET price could correct toward the $0.14 region.
“$FET performed a Weekly Close above the red region & successfully rallied to new Yearly Highs. Approaching the next resistance (orange). If FET turns the orange area into support and/or Weekly Closes above it -> blue
Otherwise, a dip to red may be next,” Rekt Capital noted.
The Aptos market, on the other hand, has gained significant momentum after breaking out of the $5.3 resistance level. After closing Thursday on a strong and bullish bar, analysts believe the digital asset is headed for the $6.86 region soon. Moreover, the so-called Solana killer has a vibrant global community and active developers.