thecoinrepublic.com
- 1 Aptos price (APT) surged 6.01% in the past 24 hours and is currently trading at $5.45.
- 2 Aptos price has gained more than 6% intraday ahead of the news of the resumption of deposits and withdrawals of APT tokens on the South Korean exchange UPbit.
- 3 APT price has shown a gain of over 8% in the last two days.
Aptos price has surged by more than 6% and might account for more by the end of the Intraday session. The Aptos crypto price has shown gains after fixing an issue of fake APT tokens creation. The South Korean Exchange UPbit discovered on early Sunday that a fake deposit of APT tokens had been made.
A new fake APT token with the site “ClaimAPTGift.com” seems to be the source of the problem. It was created on September 21 and made its way to 400,000 Aptos wallets. The fake token was probably a common token airdrop scam, where users get tokens that have links to phishing websites that trick them.
UPbit failed to check the source code of the scam tokens properly, because of which it mistook the fake tokens for real ones. Some Korean users said that they got APT without sending any to themselves, as X user Definalist reported.
Aptos Price Nearing 50-Day EMA Over Daily Timeframe
The price action analysis of the Aptos crypto shows that the price trend favored the bears and was sliding down below the 50-day EMA. The price declined near the round level of $5. The bulls accumulated near this level, leading to a consolidation followed by a price surge.
However, the price still trades within the consolidation range and might show more gains after the breakout. The breakout of the consolidation may turn the short-term trend bullish.
The volume analysis shows that APT crypto received $421 Million in the past 24 hours, which is a massive 887% higher than the previous day’s volume. The crypto holds a market cap of $1.28 Billion and ranks 35th in the crypto market. The volume-to-market-cap ratio is 32.12%, indicating high volatility in the market.
RSI And MACD Shows Optimistic Trend In the Short-Term
MACD lines are showing a positive crossover. Additionally, histogram bars are being formed above the mean line of increasing height, indicating that the bulls are regaining momentum.
The EMA analysis shows that the APT price is nearing a key exponential moving average of the 50-day EMA, indicating the increment in the buying volume in the short term. However, the buyers must surpass the EMAs in order for the price to surge toward bullish territory.
Conclusion
Aptos crypto price rose by 6% after fixing a fake token issue. A scam token called ClaimAPTGift.com was created and sent to 400,000 Aptos wallets. UPbit, a South Korean exchange, mistook fake tokens for real ones and allowed fake deposits. UPbit fixed the issue and restored the trust among its users. The price is still in a consolidation range but may break out and turn bullish. The volume increased by 887% and the volume to market-cap ratio is currently 32.12%, indicating high volatility.
Technical Levels
- Support Levels: $4.87 and $3.94.
- Resistance Levels: $5.63 and $7.11.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.