Aptos (APT) is trading at $4.60, testing a major resistance at $4.70 with the launch of the USD1 stablecoin from World Liberty on October 6.
Aptos (APT) is trading at a price of approximately $4.6, with a daily trading volume of about $815 million. The currency has experienced an increase of over 8% in the past twenty-four hours, and about 7% over the week.
Analysts and traders are closely monitoring the network's preparations for integrating a new stablecoin.
Launch of the USD1 stablecoin on Aptos
Aptos Foundation announced that the stablecoin USD1 from World Liberty Financial will launch on October 6. The press release, shared with CryptoPotato, confirmed that Aptos will be the first Move-based blockchain to support USD1, a design stemming from Meta's Libra project and designed for widespread financial use.
At launch, USD1 will support Aptos DeFi protocols like Echelon, Hyperion, Thala, and Tapp. Wallets and exchanges, including Petra, Backpack, OKX, OneKey, Bitget Wallet, Nightly, and Gate Wallet, will provide access to the currency. Liquidity pools and incentive programs are set to launch simultaneously, ensuring that transactions can be conducted immediately for institutional and individual users.
Testing the price for the main resistance
Analyst Linart Snyder pointed out that the APT stock is approaching the resistance level of $4.7, which has limited the price during its long downward trend. He stated: "If we break this level, we confirm a reversal in a very long downward trend," adding that $6.77 is a realistic target with several profit-taking levels in between.