$APT

Aptos (APT) has seen a strong price increase recently, surging by around 10% due to several key developments. This rise is partly due to Aptos's recent acquisition of HashPalette, a major blockchain firm in Japan, signaling a strategic expansion into the Asian market and particularly into the entertainment and digital assets sector. This move is likely to help Aptos establish a foothold in Japan’s blockchain space, boosting investor confidence and pushing the price upward as new Japanese users may adopt the Aptos ecosystem.

Additionally, the total value locked (TVL) on the Aptos blockchain has recently reached an all-time high of $920 million, placing it among the top DeFi blockchains. Increased staking incentives on exchanges, such as a 20% APR for staked tokens on MEXC, have also drawn more attention to APT, reducing supply and adding upward price pressure. Analysts have noted that if Aptos can maintain its momentum, it might break through a key resistance level at around $9.62, potentially leading to further increases toward $12 or even higher if the trend sustains.

A major token unlock event this month will release around $93 million worth of APT tokens, which could introduce selling pressure and potentially lead to price dips. Despite this, the token's strong support levels around $7.50 to $7.85 might help stabilize prices if a decline occurs.

With these mixed factors, the short-term outlook includes both opportunities from the ongoing expansion in Asia and DeFi growth, alongside some potential downward pressure from the token unlocks.