- Aptos announces Franklin OnChain US Government Money Fund is represented on the blockchain.
- FOBXX surges past $20 million in subscriptions, signaling a major breakthrough in institutional crypto adoption.
- APT eyes over 10% gains, holds steady above 10-day EMA.
Aptos (APT), a proof-of-stake blockchain network, is gaining on Wednesday amidst new developments in its blockchain ecosystem. Aptos announced the launch of Franklin OnChain US Government Money Fund (FOBXX) represented by the BENJI token.
APT trades at $7.78, eyeing double-digit gains.
Aptos gears up for double-digit price rally
Franklin Templeton has launched the OnChain US Government Money Fund (FOBXX) represented by the BENJI token on Aptos blockchain. The fund is regulated under the 1940 Act and invests at least 99.5% of total assets in government securities, cash and repurchase agreements.
FOBXX surged past $20 million in subscriptions, and Aptos blockchain considers this a sign of rising blockchain adoption among institutional investors.
⚡ Aptos Newsroom, Special Edition ⚡@FTI_DA has launched its Franklin OnChain U.S. Government Money Fund (FOBXX) represented by the BENJI token on Aptos!
— Aptos (@Aptos) October 2, 2024
FOBXX has surged past $20M in subscriptions, signaling a major breakthrough in institutional blockchain adoption. https://t.co/L7CgthT6a0 pic.twitter.com/pgLHfjZN4V
APT could extend its gains by 10.8% and rally toward $8.64, the September 24 peak for the asset. The Moving Average Convergence Divergence (MACD) , a momentum indicator, shows green histogram bars above the neutral line, meaning there is positive underlying momentum in the APT price trend.
The asset could find support at the 10-day Exponential Moving Average (EMA) at $7.41. The asset faces resistance at $11.84, the 50% Fibonacci retracement of the decline from the March 25 top of $19.37 to the August 4 low of $4.32.
APT/USDT daily chart
A daily candlestick close under the 10-day EMA at $7.41 could invalidate the bullish thesis and send APT to collect liquidity at the September 18 low of $5.70.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin holds above $61,000 after sell-off driven by escalating conflict between Israel and Iran
Bitcoin recovers slightly on Wednesday, trading above $61,000, after Tuesday’s slump due to the escalating Israel-Iran conflicts. The decline, which led BTC to trade below $61,000, wiped out more than $500 million from the crypto market.
XRP open interest skyrockets as Ripple tests its stablecoin RLUSD
Ripple has generated interest among derivatives traders as the payment remittance firm tests its stablecoin Ripple USD. Ripple announced that the asset is awaiting regulatory approval and is geared toward institutions, not individuals.
Monero price falls below $150 as Kraken delists XMR in Europe amid regulatory changes
Monero shows weakness trades in the red on Wednesday after losing over 6% the previous day. XMR dipped more than 10% at some point on Tuesday following Kraken’s announcement that it is delisting XMR trading in Europe, which supported this bearish move.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin dips below $61,000 amid escalating tensions between Israel and Iran
Bitcoin (BTC) and Ethereum (ETH) have closed below their key support levels, signaling a potential decline ahead, while Ripple (XRP) is retesting its crucial support level, with a break below likely indicating further downside.
Bitcoin Weekly Forecast: $70,000 mark on sight as bulls remain strong
Bitcoin has risen around 3% so far this week, breaking above its range upper limit of $64,700. This gain was supported by increased institutional demand for ETFs, which recorded inflows of more than $612 million this week.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.