{"id":507054,"date":"2022-10-19T22:00:02","date_gmt":"2022-10-19T22:00:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=507054"},"modified":"2022-10-19T20:29:43","modified_gmt":"2022-10-19T20:29:43","slug":"elrond-and-aptos-take-over-crypto-market-negative-consequences-for-top-coins","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/elrond-and-aptos-take-over-crypto-market-negative-consequences-for-top-coins\/","title":{"rendered":"Elrond And Aptos Take Over Crypto Market, Negative Consequences For Top Coins?"},"content":{"rendered":"<p><strong><span data-preserver-spaces=\"true\">Elrond (EGLD) and Aptos (APT) are attractive in a sideways market as they record extreme price fluctuations. This price action is attracting market participants tired of Bitcoin and Ethereum trending sideways, chopping out long and short positions.\u00a0<\/span><\/strong><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/crypto\/2022-the-year-of-crypto-market-fear\/\" target=\"_blank\" rel=\"noopener \">2022: The Year Of Crypto Market Fear<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Launched a day ago in most crypto exchanges, Aptos experiences massive price fluctuations. At the time of writing, Elrond trades at $57 with a 4% profit in seven days and a 20% profit in thirty days. In the meantime, Aptos deals at $7 with a 47% loss in the last 24 hours.\u00a0<\/span><\/p>\n<figure id=\"attachment_507069\" aria-describedby=\"caption-attachment-507069\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-507069 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/Elgorand-EGDL-Aptos-APT.png?resize=860%2C376\" alt=\"Elrond EGDL Aptos APT\" width=\"860\" height=\"376\"><figcaption id=\"caption-attachment-507069\" class=\"wp-caption-text\">EGLD&#8217;s price trends to the upside on the 4-hour chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/UJ6TlxFV\/?symbol=BINANCE%3AEGLDUSD\" target=\"_blank\" rel=\"noopener nofollow\"><strong>EGLDUSDT Tradingview<\/strong><\/a><\/figcaption><\/figure>\n<h2>Retail Traders Pile In, Betting On Elrond and Aptos<\/h2>\n<p><span data-preserver-spaces=\"true\">NewsBTC reported earlier that Bitcoin and larger cryptocurrencies would likely continue with their sideways movement over the coming weeks. This sideways price action might extend the spikes in volatility for EGLD, APT, and tokens going viral across social media.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In that sense, data from Santiment recorded an increase in the \u201cDiscussion Rate\u201d across Twitter, Telegram, and other platforms. Retail traders have been posting about these cryptocurrencies causing more people to become interested, leading to further volatility.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The research firm said the following on Elrond and Aptos\u2019s price action while <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/02438147\" target=\"_blank\" rel=\"noopener nofollow\">sharing<\/a> the chart below:\u00a0<\/span><\/p>\n<blockquote><p>Elrond and Aptos are both trending Wednesday for different reasons. The price of $APT tanked after launching its highly anticipated mainnet. Meanwhile, $EGLD has benefited from some shilling and giveaways making rounds on Telegram, in particular.<\/p><\/blockquote>\n<figure id=\"attachment_507067\" aria-describedby=\"caption-attachment-507067\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-507067 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/Elrond-EGLD-EGLDUSDT-Aptos-APT-APTUSDT-Chart-1.jpg?resize=860%2C526\" alt=\"Elrond EGLD EGLDUSDT Aptos APT APTUSDT Chart 1\" width=\"860\" height=\"526\"><figcaption id=\"caption-attachment-507067\" class=\"wp-caption-text\">EGLD and APT mention on social media posts that their prices have become volatile. Source: Santiment<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Additional data from Material Indicators support this thesis. Retail traders have been following as Elrond increases its social media posting volumes. Traders with buy orders from $100 to $1,000 are bidding into EGLD\u2019s price action.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The cryptocurrency is losing momentum on lower timeframes. As seen in the chart below, EGLD\u2019s price is coming into heavy resistance at its current levels. Selling orders are thickening and might prevent the price of this cryptocurrency from sustaining its price action.\u00a0<\/span><\/p>\n<figure id=\"attachment_507068\" aria-describedby=\"caption-attachment-507068\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-507068 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/Elrond-EGLD-EGLDUSDT-Aptos-Chart-3.jpg?resize=860%2C432\" alt=\"Elrond EGLD EGLDUSDT Aptos Chart 3\" width=\"860\" height=\"432\"><figcaption id=\"caption-attachment-507068\" class=\"wp-caption-text\">Retail traders jumping into EGLD&#8217;s price action. Source: Material Indicators<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">While more significant cryptocurrencies trend sideways, any rally or volatility in the price of Elrond and Aptos might be short-lived. However, if too many traders jump into these tokens, Bitcoin and Ethereum might lose stability.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/jpmorgan-taps-former-celsius-exec-as-crypto-regulatory-policy-director\/\" target=\"_blank\" rel=\"noopener \">JPMorgan Taps Former Celsius Exec As Crypto Regulatory Policy Director<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">According to a pseudonym trader, APT\u2019s volatility and <a href=\"https:\/\/twitter.com\/ByzGeneral\/status\/97457664\" target=\"_blank\" rel=\"noopener nofollow\">increasing<\/a> participation might take out the liquidity from other trading pairs. This price action leads to a sudden shift in price direction for more prominent cryptocurrencies, a situation that might become normal while the market lacks clear direction.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">After 1 day: $150 mil open interest, $3 bil futures volume, $1 bil spot volume&#8230;<\/p>\n<p>This is going to suck so much liquidity from the market.<a href=\"https:\/\/twitter.com\/search?q=%24APT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$APT<\/a> <a href=\"https:\/\/t.co\/iMupyE21It\" rel=\"nofollow\">https:\/\/t.co\/iMupyE21It<\/a><\/p>\n<p>\u2014 Byzantine General (@ByzGeneral) <a href=\"https:\/\/twitter.com\/ByzGeneral\/status\/97457664?ref_src=twsrc%5Etfw\" rel=\"nofollow\">October 19, 2022<\/a><span style=\"color: #333333\">\u00a0<\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Elrond (EGLD) and Aptos (APT) are attractive in a sideways market as they record extreme price fluctuations. This price action is attracting market participants tired of Bitcoin and Ethereum trending sideways, chopping out long and short positions.\u00a0 Related Reading: 2022: The Year Of Crypto Market Fear Launched a day ago in most crypto exchanges, Aptos experiences massive price fluctuations. At the time of writing, Elrond trades at $57 with a 4% profit in seven days and a 20% profit in thirty days. In the meantime, Aptos deals at $7 with a 47% loss in the last 24 hours.\u00a0 Retail Traders Pile In, Betting On Elrond and Aptos NewsBTC reported earlier that Bitcoin and larger cryptocurrencies would likely continue with their sideways movement over the coming weeks. This sideways price action might extend the spikes in volatility for EGLD, APT, and tokens going viral across social media.\u00a0 In that sense, data from Santiment recorded an increase in the \u201cDiscussion Rate\u201d across Twitter, Telegram, and other platforms. Retail traders have been posting about these cryptocurrencies causing more people to become interested, leading to further volatility.\u00a0 The research firm said the following on Elrond and Aptos\u2019s price action while sharing the chart below:\u00a0 Elrond and Aptos are both trending Wednesday for different reasons. The price of $APT tanked after launching its highly anticipated mainnet. Meanwhile, $EGLD has benefited from some shilling and giveaways making rounds on Telegram, in particular. Additional data from Material Indicators support this thesis. Retail traders have been following as Elrond increases its social media posting volumes. Traders with buy orders from $100 to $1,000 are bidding into EGLD\u2019s price action.\u00a0 The cryptocurrency is losing momentum on lower timeframes. As seen in the chart below, EGLD\u2019s price is coming into heavy resistance at its current levels. Selling orders are thickening and might prevent the price of this cryptocurrency from sustaining its price action.\u00a0 While more significant cryptocurrencies trend sideways, any rally or volatility in the price of Elrond and Aptos might be short-lived. However, if too many traders jump into these tokens, Bitcoin and Ethereum might lose stability.\u00a0 Related Reading: JPMorgan Taps Former Celsius Exec As Crypto Regulatory Policy Director According to a pseudonym trader, APT\u2019s volatility and increasing participation might take out the liquidity from other trading pairs. This price action leads to a sudden shift in price direction for more prominent cryptocurrencies, a situation that might become normal while the market lacks clear direction.\u00a0 After 1 day: $150 mil open interest, $3 bil futures volume, $1 bil spot volume&#8230; This is going to suck so much liquidity from the market.$APT https:\/\/t.co\/iMupyE21It \u2014 Byzantine General (@ByzGeneral) October 19, 2022\u00a0<\/p>\n","protected":false},"author":535,"featured_media":507055,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[87237,85692,86661,79915],"class_list":["post-507054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-apt","tag-aptos","tag-egld","tag-elrond"],"acf":[],"yoast_head":"\n<title>Elrond And Aptos Take Over, Negative Consequences For 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Marquez\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g\",\"caption\":\"Reynaldo Marquez\"},\"description\":\"A literature major, Reynaldo M\u00e1rquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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