Aptos and Shiba Inu Drive Crypto Market: Could Reach New Highs

Overview of the Article

  • A top-50 altcoin by market cap, Aptos (APT), could reach “another higher high” after partnering with Microsoft on AI and web3 projects.
  • Shiba Inu (SHIB) is performing relatively better compared to other mid and low-cap altcoins.
  • The ten largest addresses of Ethereum (ETH) now hold more than a third of the supply.

Aptos Could Reach Another Higher High

Smart contract-enabled blockchain Aptos (APT) has partnered with software maker Microsoft in order to build AI tools for blockchain integrations. This news has sparked major FOMO (fear of missing out) among investors which has since calmed down. However, rising volume and developer activity may be foreshadowing another higher high for the native token. APT is currently trading at $7.12 at time of writing, up by over 7% in seven days.

Attention Shifting to Shiba Inu

Traders have shifted their attention to Shiba Inu (SHIB), as it is one of the few bright spots among mid and small caps which are struggling to gain any traction on the weekly time frame. SHIB is currently up 19% with rising social volume, trading at $0.0000118 at time of writing.

Ethereum’s Top 10 Addresses Accumulating Supply

The top 10 largest wallets for Ethereum (ETH) now own 34.6% of its total available coin supply, an increase from 11.2% five years ago. These 27 million ETH added together are worth $51 billion dollars at current prices ($1,848).

The rise in volume and developer activity for both Aptos’ native token APT and Shiba Inu’s SHIB suggests that these altcoins may reach new highs soon due to traders’ increasing interest in them as potential investments.

The data from Santiment analytics platform suggests that two mid-cap Ethereum rivals could be headed into an uptrend soon due to their rising volumes and development activities signaling potential price increases in the near future.