Although the market is Attempt to rebound from a faint September start, some altcoins – including Aptos (APT) – continue to freefall despite bulls’ attempts to turn things around. According to CoinGecko, APT’s current performance is dismal, with the token down 15% since last week.

Meanwhile, Korea Blockchain Week has generated a lot of buzz around Aptos. Several on-chain events were revealed during the event. While positive on-chain events are a great sign of the platform’s long-term growth, investors and traders are still struggling to overcome fear, uncertainty, and market doubt.

Aptos continues to fall to $5.74

At the time of writing, APT bulls are looking to take control of the token’s short-term momentum. However, bears are pressing their advantage, targeting $5.74 in the low term after breaking through the $6.12 support to resistance.

The continued downward market trajectory is the primary reason for APT’s destitute performance. Driven by FUD from the broader financial market, bleed in the cryptocurrency market, APT may experience further losses in the coming weeks.

The APT Relative Strength Index (RSI) suggests that the token’s downward trajectory will continue well below the $5.74 support level. If that happens, it could lead to a larger localized sell-off in the APT market.

There is a greater probability that this thesis will come true because Coin glass notes that low positions have outnumbered long positions over the past 24 hours, further strengthening the token’s downward trajectory.

Investors and traders should keep an eye on upcoming macroeconomic indicator releases due out today. As markets continue to price in a broader decline, positive macroeconomic indicators will provide a much-needed boost to both conventional and cryptocurrency markets in the long term.

Korea Blockchain Week Unveils Fresh Aptos Developments

Aptos Experience in Korea Blockchain Week continues to attract attention from the community. Arculus, a digital security platform, has he partnered from Aptos for the Aptos platform card. This enabled tap-to-pay on Aptos, improving the usability of the token and the platform itself.

On-chain, Aptos has also expanded since the beginning of the year. According to Aptos Labs ecosystem chief Neil Harounian, the platform has recorded Bridge volume was $2 billion and total value locked (TVL) on-chain has tripled since the end of 2023.

This panel is dedicated to stablecoins and payments in @Aptos Experience is 🔥 with panelists from:

– @Visa on enabling cross-border payments
– @PayPal about the speed and finality of digital payments at Aptos
– @IDAfi24 on Building a Regional Regulated Stablecoin on Aptos

Stablecoin summer and… photo:twitter.com/R5aeRKMTVn

—JC | TowneSquare ❏ 🟢 (@realjcz) September 5, 2024

Aptos experience too hosted a conversation about stablecoins and payments on Aptos. Market giants like Visa and PayPal joined in, providing insight into how stablecoins can be implemented to solve real-world problems.

Given that this ecosystem is constantly innovating and evolving through chain development, Aptos still has a chance to earn a place in the market in the long term.

Featured image from Medium, chart from TradingView