Avalanche, Aptos & Polkadot — Asian Wrap 20 October

Avalanche price is declining in stair-step fashion, hinting at an explosive move to come. AVAX price shows an influx of bearish volume after breaching the 8-day exponential moving average. Invalidation of the bearish thesis is a breach above $17.

In a Terra 2.0-esque launch, a new blockchain Aptos noted a terrible crash on Wednesday. The highly anticipated blockchain launched its mainnet on October 18. Aptos noted significant hype surrounding the chatter of the blockchain being a “Solana killer”, but the launch was a hype killer.

Polkadot blockchain recognized more than 500 contributions a day in September 2022. Based on data from programming repository GitHub, Polkadot’s development activity has exceeded that of Near, Ethereum, Solana and Avalanche.