Why is APT Coin Pumping Today? Price Surges Over 17% Following Huge Collaboration

The cryptocurrency market has witnessed a significant surge in the price of Aptos, with its current price standing at $7.76. The 24-hour trading volume for Aptos has reached an impressive $234,250,793, marking a 15.94% increase in the last day. Aptos now ranks #33 on CoinMarketCap with a market cap of $1,707,129,230. The price has surged by over 17% in the last hour.

The primary catalyst behind this surge appears to be Aptos’s recent partnership with tech behemoth, Microsoft. This collaboration aims to explore innovative solutions related to asset tokenization, digital payments, and central bank digital currencies. Aptos Labs, the Layer 1 blockchain developed by ex-Meta employees, will leverage Microsoft’s Azure OpenAI Service as part of this partnership.

In the early stages of this collaboration, the focus will be on utilizing Microsoft’s AI capabilities to simplify the onboarding process for web3 users and assist developers in creating smart contracts and decentralized apps. Aptos plans to introduce the Aptos Assistant, a user-friendly digital assistant powered by Microsoft’s AI, designed to address queries related to the Aptos blockchain.

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Earlier this year, Microsoft’s significant investment of $10 billion in OpenAI, the creators of ChatGPT, made headlines. Rashmi Misra, Microsoft’s general manager of AI & emerging technologies, emphasized the potential of merging AI and blockchain. By integrating Aptos Labs’ technology with Microsoft’s Azure Open AI Service, the goal is to democratize blockchain use, enabling effortless onboarding to web3 and fostering the development of innovative decentralized applications using AI.

Aptos CEO Mo Shaikh expressed excitement about the collaboration, stating that AI and blockchain are “generational breakthroughs” that will significantly influence the internet’s evolution. With Microsoft’s support, the shared vision is to make this technology accessible to a broader audience, ensuring more individuals and organizations can benefit from it.

According to the famous Twitter analyst and technical analysis expert, Ali (@ali_charts), there’s an intriguing speculation about the potential price trajectory of #Aptos ($APT). Drawing a parallel with $SOL’s price movement, Ali suggests that if #Aptos were to follow a similar path, its value could skyrocket to an impressive $37. However, he also provides a cautionary note, stating that any dip for #APT below the $5 threshold might serve as a sign of invalidation.

In conclusion, the partnership between Aptos and Microsoft is a testament to the growing intersection of AI and blockchain. As these two powerful technologies converge, the potential for innovation and growth in the crypto space is boundless.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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