The Aptos Foundation and OKX Ventures have joined forces to create Ankaa, a $10 million fund that will help projects on the Aptos blockchain that deal with decentralized banking, real-world assets, games, social platforms, and AI.
The fund’s goal is to encourage growth and new ideas in the Aptos environment. However, the news has caused a big drop in Aptos’ native token, APT. It has gone from a high of $6.68 to a low of $6.25, a 4% drop. The market value of the token is about $2.97 billion, and trade has dropped more than 44% to $94 million.
The upcoming release of more than 11.3 million APT on August 12 is likely to affect how well the token does in the market. The recent drop in price has also changed how people feel about the coins. A drop in open interest shows that the trend is changing.
The open interest in APT has gone down, which means the trend has changed, but the long/short ratio has gone up, which means people are feeling bullish.
Aptos’ selling heatmap shows possible support and resistance zones. If bearish trends continue, APT could fall to $5.58 and a $5 zone drop is possible.
