APT hikes by 11% after Microsoft’s latest partnership
- Aptos price increased by double digits for the second time in over 4 months.
- APT volume climbs to record high.
On 9 August, Aptos issued a significant announcement regarding its partnership with Microsoft. Following this announcement, there was a notable and substantial response in APT’s price and trading volume, the token associated with Aptos.
Read Aptos (APT) Price Prediction 2023-34
Aptos to partner with Microsoft
On 9 August, Aptos unveiled a strategic collaboration with Microsoft to “unlock Web3 on the Aptos network”. This partnership entailed utilizing Microsoft Azure’s infrastructure to introduce innovative AI-driven blockchain utilities, such as the Aptos Assistant chatbot.
Furthermore, to enhance network security, Microsoft will facilitate Aptos Labs in operating validator nodes on the Azure platform. Following these revelations, the trading volume and development activity metrics experienced a surge, reaching record levels.
— Aptos Labs (@AptosLabs) August 9, 2023
Aptos volume, dev activity, and social dominance spikes
When news of the partnership surfaced, Santiment data revealed significant spikes in volume, development activity, and social dominance.
According to the Santiment chart, APT’s trading volume surged to over 637 million by the close of 9 August. The last time this level of volume was reached was around April.
As of this writing, the volume had climbed even higher, exceeding 741 million, with this volume level last observed almost five months ago.
Additionally, the Santiment chart depicted a noticeable upswing in development activity. The trajectory of Aptos’ development activity had risen since around 3 August, reaching approximately 87.
However, on 9 August, it experienced a remarkable surge, reaching 115. Although there was a slight dip to 112 as of this writing, the increase remained evident.
In addition to these trends, there was a pronounced surge in social dominance, which peaked above 1.5% upon the announcement of the partnership. However, this figure dropped below 1% as of this writing, suggesting a decrease in the token’s social prominence.
APT witnesses almost 11% spike
On the daily timeframe chart of Aptos, there was a noticeable 10.52% surge in value, leading to a closing trade price of $7.40 on 9 August. The only other occasion when APT experienced a similar sharp increase was on 17 June, when it soared by more than 11%.
Remarkably, these two instances represented the sole instances of double-digit spikes in a span exceeding 4 months.
How much are 1,10,100 APTs worth today
However, as of this writing, the initial excitement seems to have subsided. The token’s trading value had settled around $7.2, reflecting a minor loss of 1.5%.
Despite this, the overall trend remained bullish, as indicated by the Relative Strength Index (RSI) sitting above the neutral line.