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- Aptos has a new token standard which might be a game-changer for long-term growth<\/em><\/li>\n
- A recap of APT\u2019s recently bearish performance and evaluation of its prospects.<\/em><\/li>\n<\/ul>\n
Major networks such as Ethereum [ETH]<\/a> have thrived off having token standards that streamline interactions. \u00a0The Aptos [APT]<\/a> blockchain looks to be following a similar path with its latest announcement revealing a new token standard.<\/p>\n
\nIs your portfolio green? Check out the Aptos Profit Calculator<\/a><\/p>\n
\nIn its latest announcement, Aptos stated that token standards are important in facilitating network growth. The network revealed the launch of its Aptos Digital Asset (DA) standard as its latest offering which is also aimed at leveraging growth.<\/p>\n
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1\/ Introducing Aptos Digital Asset Standard (DA)<\/p>\n
Token standards are pivotal in establishing a shared foundation to create, manage, and interact with digital assets in a blockchain ecosystem. The new Aptos DA offers builders unrivaled flexibility, composability, and scalability. pic.twitter.com\/GmxZLuyyqF<\/a><\/p>\n
\u2014 Aptos (@Aptos_Network) August 22, 2023<\/a><\/p>\n<\/blockquote>\n
According to the official announcement, this new standard will offer several benefits as far as real-world applicability is concerned. It will particularly make it possible to develop composable NFTs. Speaking of, NFT trading activity took a substantial hit in the last three months.<\/p>\n
![\"Aptos](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Aptos-APT-02.47.10-23-Aug-2023.png\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
Aptos\u2019 total NFT trades count peaked at 5,751 in mid-June and recently dropped to a single-digit count. This underscored just how the slow market conditions have affected the network.<\/p>\n
The new token standard highlights the network\u2019s efforts to boost NFT trading activity. Meanwhile, APT\u2019s development activity also took a hit and fell to its lowest three-month levels on Monday (21 August).<\/p>\n
Will the token standard put APT on a bullish trajectory? <\/strong><\/h4>\n
APT<\/a> had a promising start after delivering an impressive performance in January 2023. However, it has maintained an overall bearish slide since February and recently bottomed out at $4.92.<\/p>\n
It has since bounced back to its $5.82 press time price. Nevertheless, its Money Flow Index (MFI) suggested that the token was still experiencing outflows.<\/a> Hence, short-term prospects remain bearish for now.<\/p>\n
![\"APT](\"image\/svg+xml,%3Csvg%20xmlns=\")
![\"APT](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/APTUSDT_2023-08-23_03-03-28.png\")
<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
So what does the future have in store for this coin? Well, the new Aptos DA standard may unlock more growth opportunities, hence potentially boosting demand for the coin in the network.<\/p>\n
Note that this is still a hypothetical scenario for now. But, if it were to succeed, then that would boost its long-term bullish prospects.<\/p>\n
\n - A recap of APT\u2019s recently bearish performance and evaluation of its prospects.<\/em><\/li>\n<\/ul>\n
![\"Aptos](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Aptos-APT-03.10.30-23-Aug-2023.png\")