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Tag: Aptos

  • Letters: Fix Our Forests disguises logging as fire safety

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    Submit your letter to the editor via this form. Read more Letters to the Editor.

    Fix Our Forests offers
    logging as fire safety

    Re: “Legislation would worsen California wildfire threat” (Page A8, Dec. 28).

    The Fix Our Forests Act isn’t about environmental safety; rather, it is a blatant attempt at expanding the logging industry under the cover of wildfire prevention. Congress is rushing to pass a bill that dramatically expands backcountry logging while weakening environmental review and public input, allowing projects up to 15 square miles to bypass the National Environmental Policy Act.

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    Letters To The Editor

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  • SK Telecom To Launch Web3 Wallet Services In South Korea | Bitcoinist.com

    SK Telecom To Launch Web3 Wallet Services In South Korea | Bitcoinist.com

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    There has been significant development within the Web3 industry recently. South Korean telecommunications giant SK Telecom is set to introduce a Web3 wallet in collaboration with Aptos and Atomrigs Lab. 

    SK Telecom aims to tap into the potential of blockchain technology and further enhance its offerings in the growing digital space through this alliance. 

    SK Telecom Plans To Launch T Wallet

    In the early hours of today, November 7, the largest South Korean tech giant announced that they’ve signed a “tripartite agreement” with Aptos Labs & Atormrigs Lab. According to the announcement, South Korea’s tech giant aims to grow its “affiliations by teaming up with these blockchain firms in a three-way agreement.”

    SK Telecom said:

    This partnership is a strategic move to enhance our affiliations with customer-preferred magnets and decentralized applications (dApps), with a particular focus on our Web3 wallet service, T wallet.

    Through this collaboration, users will benefit from the seamless connection to the promising decentralized application ecosystem within Aptos. SK Telecom added:

    By leveraging the innovative MoveVM blockchain technology offered by Aptos, this integration represents a significant advancement in making Web3 services more accessible to a broader audience.

    SK Telecom also took to its X handle (previously known as Twitter) to share the update, promising its users a seamless and secure Web3 experience. Interestingly, the Aptos Lab responded to this X post by saying the upcoming integration will make Web3 more accessible in Korean.

    Meanwhile, SK Telecom (SKT) plans to launch a Web3 wallet and NFTs initially started in July 2022. Then, the firm collaborated with notable tech companies like AhnLab Blockchain and Atomix Lab to create the wallet.

    The company planned to use Soulbound Tokens (SBTs) to verify credentials like memberships and certifications, as well as store digital assets. But now, it has moved on with new partners. 

    The daily chart shows the crypto market’s total volume is $1.28 trillion. | Source: TOTAL chart from TradingView.com

    SK Telecom Wallet Could Boost South Korea’s Cryptocurrency Market

    On September 20, South Korea’s National Tax Service (NTS) shared official data, stating that almost 80% of its residents hold their overseas assets in cryptocurrency.

    According to data, 5,419 individuals and businesses store their overseas financial accounts in digital assets. This includes assets like cryptocurrencies, stocks, and both deposits and savings.

    In total, these financial assets amount to a substantial 186.4 trillion won, equivalent to $140 million in value. Out of the total, about 70%, which is roughly $130.8 trillion, represents digital assets.

    This data shows that out of the total number, 1,432 institutions and individuals possess digital assets. SK Telecom’s introduction of the T wallet could boost the already active crypto market in Korea.

    Featured image from Shutterstock and chart from TradingView.com

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    Kent Tenix

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  • November To Witness Over $450M In Token Unlocks: Aptos And Avalanche Take The Lead

    November To Witness Over $450M In Token Unlocks: Aptos And Avalanche Take The Lead

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    The crypto market is set to experience significant token unlocks in November, with projects such as Aptos (APT), Avalanche (AVAX), and Hashflow (HFT) leading the way.

    These unlocks are anticipated to release more than $320 million worth of tokens, contributing to the overall $450 million set to enter circulating supplies in the crypto market this month.

    It is worth noting that such substantial releases could have immediate and long-term effects on both the price and availability of these digital assets.

    Aptos And Top Players In November’s Token Release

    Token unlocks are events where previously locked tokens become available for trading, often increasing a project’s circulating supply. These events are critical moments for projects, as they can signal maturation and a new phase of market dynamics. 

    Aptos, a Layer 1 blockchain created by former Meta executives, is expected to have the most significant token unlock by value, releasing 24.8 million APT tokens, currently representing about $165.6 million at today’s price.

    Aptos’s upcoming unlock on November 12 is not just substantial in value but also notable for its distribution, with core contributors, investors, the community, and the Aptos Foundation all set to receive portions of the release.

    Meanwhile, Avalanche, another Layer 1 blockchain, is preparing for its considerable token unlock later in the month on November 24, which will see 9.54 million AVAX tokens (valued at approximately $99.3 million at today’s price) released, marking 2.7% of its circulating supply.

    Hashflow, a multi-chain decentralized exchange, is slated to have the largest token release by circulating supply percentage. It is poised to unlock 160.38 million HFT tokens, approximately 73.9% of its circulating supply, on November 7, injecting roughly $42 million into the market.

    The distribution of these tokens will span early investors, ecosystem development, the core team, and community rewards, adding another layer to the economic activities of the project.

    Other Notable November Token Unlocks

    Other projects like Optimism (OP), ApeCoin (APE), and Sui (SUI) are also scheduled for significant token unlocks this November. However, they pale in comparison to the top three in terms of value. Optimism is set to unlock 24.16 million OP tokens worth $32.4 million.

    Apecoin (APE) is poised for an unlock of 15.60 million APE tokens worth $19.5 million, and SUI is to unlock 34.62 million tokens valued at $14.6 million at today’s market prices.

    Each unlock carries potential implications for the broader crypto market, as they may affect liquidity, trading volume, and investor sentiment. Furthermore, out of these six tokens above set to unlock this month, Aptos and Avalanche are the top gainers.

    Aptos (APT) price is moving sideways on the 4-hour chart. Source: APT/USDT on TradingView.com

    Currently, both assets are up 38% and 22%, respectively, in the past 14 days. APT trades at $6.82, down by 2% over the past 24 hours, while AVAX trades at $11.02, down by 2.7% over the same period, at the time of writing.

    Featured image from Unspkash, Chart from TradingView

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    Samuel Edyme

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  • Aptos Hits Record TVL High – Will APT Evade A Market Retraction?

    Aptos Hits Record TVL High – Will APT Evade A Market Retraction?

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    Since the second week of October, there was a noticeable surge in demand for Aptos’ native cryptocurrency APT. This increased interest led to a robust phase of Total Value Locked (TVL) growth.

    Ultimately, this surge in demand for APT resulted in Aptos achieving its highest-ever TVL value of $74 million during the trading session on Thursday, October 26th.

    This surge in TVL is a crucial metric for decentralized finance (DeFi) platforms, showcasing the total value of assets, tokens, or cryptocurrencies locked within the platform’s smart contracts.

    Aptos TVL. Source: DefiLlama

    Aptos Surges Amidst Rising Investor Confidence

    The increase in demand for Aptos’ native cryptocurrency, APT, further demonstrates growing investor confidence and interest in the platform’s utility, potentially indicating an expanded user base or enhanced use case scenarios within the Aptos ecosystem.

    At the time of writing, APT was trading at $6.69, up 4.5% in the last 24 hours, and etching a notable 31.5% increase in the last seven days, according to figures by crypto market tracker Coingecko.

    Source: Coingecko

    This rally can be partially due to Aptos’ distinct position as a proof-of-stake blockchain that uses a cutting-edge smart contract programming language, to facilitate quicker and less expensive transactions on its network.

    For this reason, a lot of cryptocurrency fans frequently associate Aptos with certain decentralized Web3 applications, with a focus on the domain of non-fungible tokens (NFTs).

    AptosOne recently launched Graffio, an NFT-based art display platform. This tool simplifies NFT art creation, with standout features including waived gas fees for social media logins and the creation of an exclusive Graffio wallet.

    APTUSDT currently trading at $6.80 billion on the daily chart: TradingView.com

    APT Price On Bullish Run With 24% Gain 

    The announcement led to a surge in Aptos (APT) price from $4.88 to $6.03 between October 20 and 23, a nearly 24% increase, prompting experts to predict a bullish trend continuing to $7.20 around end of next month.

    Its current value of $6.69 reflects a notable climb of 36% since mid-October, demonstrating a robust upward trend. The increase in price underscores the promising prospects for the future of Aptos and its indigenous digital currency, APT.

    APT seven-day price action. Source: Coingecko

    As Aptos achieves its all-time high in Total Value Locked (TVL), the soaring trajectory of APT’s price and the platform’s advancements in NFT technology have sparked significant optimism.

    The recent market surge and robust momentum hint at the potential for sustained growth and increased interest in APT. Despite concerns looming over a possible market retraction, the record-breaking TVL and the remarkable rise in APT’s value prompt a hopeful outlook, suggesting that Aptos and its native token may be well-positioned to weather potential market fluctuations and maintain their upward trajectory in the near future.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

    Featured image from Shutterstock

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    Christian Encila

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