- Aptos (APT) has seen a surge of 18% in the past week, leading to speculation that a market reversal may be imminent.
- The Aptos network has recorded a sharp uptick in the number of daily active addresses in the past three months.
- The project has received notable attention from the crypto industry due to its vibrant team of developers and investors.
Aptos (APT) coins have surged 18% in the past week, leading to speculation that a market reversal may be imminent. The Aptos network has recorded a sharp uptick in the number of daily active addresses, as well as notable attention from the crypto industry due to its vibrant team of developers and investors.
Staked Coins & Accounts
More than 82 percent of Aptos (APT) coins, amounting to 861,393,064 units, have been staked by more than 4.1 million accounts. The huge hype on Aptos (APT) network earlier this year could be on its way back after dropping as low as $5.36 in the first week of June.
The proof-of-stake (PoS) layer 1 (L1) blockchain raised a whopping $200 million in a seed funding round led by venture capital firm Andreessen Horowitz (a16z). Additionally, it raised another $150 million in its series A funding round led by Sam Bankman-Fried’s FTX Ventures and Jump Crypto. As a result, there is high record of staked coins amounting to more than 861 million APTs or 82 percent of circulating supply with around 4.1 million accounts and 108 validators despite being in existence for less than a year.
Despite altcoin industry remaining relatively calm recently Bitcoin edged higher fueled by increased whale interest and investments management firms filing for Bitcoin ETFs to offer institutional customers crypto exposure. There are signs that APT price could rally nearly 38 percent if it breaks above logarithmic falling trend on daily time frame according to market aggregate data from aptscan.ai which showed an increase from 75,806 transactions on March 1 to 162,071 on June 16 indicating heightened demand for underlying technology.
Despite being down 65% from all time high around $19/92 APT shows signs of possible price reversal due to increasing daily active addresses and whale interest which can potentially see 38% price rally if it breaks above logarithmic falling trend line on daily timeframe.