Aptos is riding the bullish trend that has surged through the market. According to the latest market updates, the token has experienced an impressive increase of nearly 36% in price, aligning with the movements of major cryptocurrencies like Bitcoin and Ethereum, which has positively influenced the overall sentiment surrounding the token.
Investors are increasingly drawn to various statistics indicating that Aptos has seen significant growth since the beginning of the year. If the momentum persists, we could witness APT pushing new limits in the upcoming days or weeks.
Growth And Developments Bolster Investor Confidence
Recently, X user @apt_everstake published an article on X that discussed the platform’s metrics from last month, highlighting strong long-term prospects for the protocol. The report reveals that Aptos has grown to reach 3 million monthly active users, marking an 11% increase since July.
At its peak, the platform recorded 450k active users, while the average daily accounts surpassed 190k, reflecting a 12% rise compared to last July.
— Aptos Nerd | Everstake (@apt_everstake) September 21, 2024
Aptos also showcased impressive throughput, achieving a peak of 360 million transactions in a single day and a transaction rate of 12,000 per second.
On-chain activity, like that of Aptos, attracts both partners and retail investors. These are clear indicators that the platform is on a promising trajectory, making it an attractive investment opportunity.
In a collaboration between Aptos, Ankaa Labs, and OKX Ventures, Ankaa announced their inaugural cohort of projects to be supported by the Ankaa Accelerator program. As mentioned in the blog post, five projects were selected based on their “significant potential to enhance the Web3 ecosystem.”
The program will support these ventures with part of their $10 million investment from Aptos and OKX.
Momentum Slows at $8.24
Despite the rapid price movement following a shift in investor sentiment, APT’s attempt to surpass the $8.24 resistance proved unsuccessful, leading the token to seek stability above $7.76.
The recent price action of APT has depleted bullish momentum, resulting in a somewhat bearish atmosphere despite the significant gains over the past days. The relative strength index (RSI) suggests a potential reversal in the token’s momentum, possibly leading it back to $7.27 in the short to medium term.
Nevertheless, the token’s strong correlation with Bitcoin, and by extension the entire market, should benefit bulls in the upcoming days. With Bitcoin having recently surpassed the $60k threshold, Aptos could potentially mirror this price action if the market climate continues to strengthen investor confidence.
Featured image from Medium, chart from TradingView
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