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Aptos outperforms top 30 cryptos in 7D change; reason is quite surprising

2min Read
This is what investors can expect from Aptos as its price skyrockets 

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  • Aptos recently concluded its NYC event in partnership with KYD Labs.
  • The on-chain metrics supported the massive price hike but the indicators were bearish. 

Aptos [APT] surprised the crypto industry over the last few days by registering massive price gains. According to CoinMarketCap, APT’s price increased by nearly 40% in the last seven days, and at the time of writing, it was trading at $17.63 with a market capitalization of more than $2.8 billion.

While APT continued to rise, Aptos recently organized an event in partnership with KYD Labs. As a part of the collaboration, Aptos and KYD Labs created the future of fan loyalty through live event ticketing.


Realistic or not, here’s APT’s  market cap in BTC’s terms


Moreover, there was even better news for the investors- LunarCrush’s data suggested that the pump might continue in the following days. In fact, Aptos was on the list of the cryptos with the highest Galaxy Score, which is a massive bullish indicator. 

The good days are far from over

A look at APT’s on-chain metrics gave a bullish signal, as most of them were supportive of a continued surge. APT’s development activity increased in the last week, reflecting developers’ efforts to improve the network.

Positive sentiments around APT also increased, reflecting investors’ trust in the token. Moreover, APT’s popularity saw exponential growth as its social volume registered an uptick. 

Source: Santiment


How much are 1,10,100 APTs worth today


But these can be troublesome

While key on-chain metrics looked bullish, APT’s daily chart revealed quite a few indicators that suggested otherwise. For instance, the Relative Strength Index (RSI) was in the overbought zone and registered a downtick.

The Money Flow Index (MFI) was also hovering near the overbought zone, which looked concerning. APT’s Chaikin Money Flow (CMF), on the other hand, declined and was heading toward the neutral mark, further suggesting that the price surge might end soon. Nonetheless, the MACD was still in the bulls’ favor. 

Source: TradingView

That being said, it was pretty evident that the bull rally might continue for a little more time before the demand for APT gets arrested by the bears.

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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