Aptos Foundation Launches New AI Tools, APT Price Rally To $50?

Aptos Foundation has entered into a collaboration with the decentralized AI platform FLock io to strengthen its existing blockchain environment. This alliance aims at enhancing the coding experience of the Move language through the use of AI-based technologies.

In the wake of this announcement the APT price rose by more than 5% which indicates favorable investor perception.

Aptos Foundation Launches New AI Tools

On X (formerly Twitter), the Aptos Foundation and FLock io announced their collaboration to build AI tools for Move, a language used on the Aptos blockchain. Move, which was initially designed by Meta for the Diem project, is famous for its ability to ease the process of handling blockchain operations. However, it is still to date relatively new which has been a big factor in its low usage.

To overcome this, FLock io has created a large language model for Move which aids the developers to code in a better and faster way. Initial evaluations reveal that this model is superior to other similar AI tools such as ChatGPT-4 in producing efficient and readable Move programming code. Bashar Lazaar, who is the head of grants and ecosystem at Aptos Foundation said,

“Move’s adoption could be quite complex without the right tools.”

With the new AI technologies, developers hope to enhance the process of writing and reviewing the codes of smart contracts on Aptos. Jiahao Sun, the CEO of FLock io pointed out that their tools are made to assist developers in handling blockchain related tasks and enhance the security measures.

APT Price Jumps As Wave 3 Set to Begin

Since the announcement of this collaboration, APT’s price has experienced a substantial 5.34% increase, reaching $10.25. Analysts suggest that this upward trend could continue if the current market momentum holds. In the short term, key resistance levels are expected around $10.30, and if the price breaks through, the next psychological barrier at $10.50 could be tested.

Concurrently, the open interest in APT has risen by 5.27%, now standing at $225.42 million, indicating growing anticipation in the market. Meanwhile, crypto analysts believe that Aptos has completed an ABC correction in Wave 2 of the Elliott Wave cycle.

This correction sets the stage for the highly anticipated Wave 3, which is often the strongest phase of the cycle. Crypto analyst CryptoBullet1 subsequently predicts that this wave could push APT’s price to at least $50.

Source: X
According to him, short-term targets for APT price include a mid-term milestone of $29. Beyond that, macro targets are set at $49, with further projections pointing to $95 and potentially $130.

Adding to the bullish potential, data from Token Terminal shows that the number of monthly unique, fee-paying addresses on the Aptos network has surpassed 7 million. This rise in unique addresses reflects growing user activity and adoption on the Aptos network, further fueling the bullish sentiment surrounding APT’s potential.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.