- Recent data shows a significant increase in active addresses and transaction volumes, indicating heightened activity on the network.
- On the technical front, APT exhibits the potential for a breakout, as both derivative and spot traders place bullish bets on the token.
Although there are indications of improvement, Aptos (APT) has faced temporary setbacks. Currently, the token is dropping by 6.27% over the last day, mirroring the overall market’s slump as reported at this moment.
Over an extended period, Asset Protection Trusts (APT) have struggled, experiencing a 27.20% decrease over the last month and a further 7.23% fall within the last week.
As an analyst, I’ve noticed some intriguing market indicators that hint at APT potentially regaining its bullish trend. This optimistic outlook is bolstered by favorable market correlations and a surge in network activity.
APT records spike in key metrics
New information from Artemis suggests an increase in key indicators for Advanced Persistent Threat (APT), possibly shaping its price trend over the next few days.
The report shows a significant rise in the Aptos blockchain’s daily active addresses, reaching approximately 1.2 million, which suggests an uptick in network usage.
Furthermore, we’ve seen a significant increase in the number of daily transactions, reaching approximately 4.5 million over a 24-hour period. This figure represents a mix of buying and selling actions, suggesting increased market participation and interaction.
Although these measures don’t conclusively predict the trend of APT’s price, examining both futures and current market trades provides hints that the price might rebound.
Spot and derivative traders place buy bids
Traders on the spot and futures markets are displaying heightened purchasing behavior, suggesting a growing positive outlook towards APT.
Currently, there’s been a substantial increase in APT outflows from exchanges over the last seven days. The total net flow for APT stands at approximately $15.05 million, marking a significant jump from the $2.59 million reported the week before.
As a crypto investor, I understand that exchange netflow refers to the movement of digital assets entering and leaving exchanges. Seeing a negative netflow means that a significant amount is being withdrawn, indicating traders are moving their holdings into personal wallets for long-term storage. This action is typically associated with a bullish market trend, where investors believe the price will increase over time.
Traders in derivative markets are adding to the purchasing frenzy as well. Over the last eight hours, the funding rate – an important indicator mirroring traders’ overall attitude – has been climbing gradually.
Based on information from Coinglass, the APT’s current funding rate is 0.0081%, suggesting that more investors are holding long positions rather than short ones in the market. This positive funding rate implies that long traders are paying a premium, which indicates their optimistic view about the asset potentially increasing in value.
Potential rally to $15
According to the graphs, both spot and futures traders seem to be responding to a significant demand area that ranges from around $7.69 to $8.64.
On the charts, we see that both spot and derivative traders are acting in unison within an important demand region between $7.69 and $8.64.
Or even more informally:
The graphs show that both spot and future traders are reacting to a key area of demand around $7.69 to $8.64.
As a researcher studying market trends, I’ve noticed that this specific area has historically sparked upward surges on four distinct instances. These patterns lead me to speculate that we might witness a similar response in the current scenario.
Read Aptos’ [APT] Price Prediction 2024–2025
As a researcher, I’ve observed that should the demand zone provoke another rally, there’s a possibility that APT could experience a significant surge of approximately 76.17%, potentially pushing its price up to $15.33. Conversely, if APT doesn’t swiftly respond to this level, it might linger within the demand zone for an extended duration before eventually breaking out upward.
If the existing positive trends continue, APT appears poised for a substantial upward shift within the market.
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2025-01-10 05:11