TLDR
- APT token has experienced recent short-term decline of 6.27% in 24 hours but shows potential for recovery based on increasing network activity
- Daily active addresses on Aptos blockchain have reached 1.2 million, with 4.5 million transactions recorded in 24 hours
- Exchange outflows have increased to $15.05 million over seven days, suggesting long-term holding behavior
- Funding rate stands at 0.0081%, indicating dominance of long positions in derivative markets
- Technical analysis identifies a key demand zone between $7.69-$8.64, with potential for 76% rally to $15.33
The Aptos blockchain’s native token APT is currently experiencing mixed market signals, with recent price declines contrasting against growing network activity and positive trading metrics. The token has seen a 6.27% decrease in value over the past 24 hours, adding to a broader decline of 27.20% over the last month.
Recent data from blockchain analytics platform Artemis reveals that despite the price downturn, the Aptos network is showing strong signs of user engagement. Daily active addresses have reached a notable milestone of 1.2 million users, indicating healthy network participation.
Transaction volume on the network has also shown remarkable growth, with 4.5 million transactions processed within a 24-hour period. This surge in activity encompasses both buying and selling movements, suggesting active market participation across the network.
Looking at exchange-related metrics, APT has experienced a marked increase in outflows from trading platforms. The total exchange netflow over the past seven days reached $15.05 million, representing a substantial increase from the previous week’s figure of $2.59 million.
These outflows from exchanges often indicate that traders are moving their tokens to private wallets for longer-term holding, rather than keeping them on exchanges for immediate trading. This behavior typically suggests a more bullish outlook among token holders.
In the derivatives market, traders are showing increased confidence in APT’s upward potential. The funding rate, which measures the cost of holding long versus short positions, currently stands at 0.0081%. This positive rate indicates that traders holding long positions are willing to pay a premium, reflecting their optimistic outlook on the token’s future price movement.
Technical analysis of APT’s price chart reveals a key demand zone between $7.69 and $8.64. This price range has historically served as a strong support level, triggering upward price movements on four previous occasions.
Historical data shows that similar market conditions have preceded rallies of up to 76.17% from this demand zone. If this pattern repeats, APT could potentially reach price levels around $15.33, though such projections are not guaranteed.
The token’s short-term performance remains under pressure, with a 7.23% decline recorded over the past week. This downturn aligns with broader market movements, suggesting external factors are influencing APT’s price action.
Market data indicates that spot traders are also showing increased interest in APT. The rise in exchange outflows suggests a shift from short-term trading to longer-term holding strategies among market participants.
The combination of rising network activity and increasing outflows from exchanges presents an interesting contrast to the current price action. While the token’s value has declined, underlying metrics suggest continued network growth and user engagement.
Daily transaction volumes of 4.5 million within 24 hours represent a substantial level of network usage, indicating that despite price volatility, the blockchain continues to process a high number of user interactions.
The positive funding rate in derivatives markets adds another layer to the current market structure. At 0.0081%, the rate suggests that traders in futures markets maintain an optimistic outlook on APT’s price potential.
Looking at the immediate market environment, APT’s position near the identified demand zone between $7.69 and $8.64 presents a critical juncture for price action. This zone has previously acted as a springboard for upward movement.
The most recent data shows APT trading volume and network metrics continuing to diverge from price action, with growing network usage occurring alongside the recent price decline.
