TLDR
- APT token has recently experienced a short-term decline of 6.27% in 24 hours but shows potential for recovery based on increasing network activity
- Daily active addresses on the Aptos blockchain have reached 1.2 million, with 4.5 million transactions recorded in 24 hours
- Currency outflows have increased to $15.05 million over seven days, indicating a long-term holding
- The funding rate stands at 0.0081%, indicating the dominance of long positions in derivatives markets
- Technical analysis identifies key demand zone between $7.69-$8.64, with potential for 76% rally to $15.33
Aptos blockchain’s native token APT is currently experiencing mixed market signals, with recent price declines contrasting with growing network activity and positive trading statistics. 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 past month.
Latest data from blockchain analytics platform Artemis reveals that despite the price drop, the Aptos network is showing strong signs of user engagement. Daily Active Addresses has 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 increase in activity includes both buying and selling movements, indicating active market participation across the network.
Looking at stock market related metrics, APT has seen a marked increase in outflows from trading platforms. Total exchange net flow over the past seven days reached $15.05 million, representing a significant 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 to hold them for the longer term, rather than holding them on exchanges for immediate trading. This behavior usually suggests a more bullish outlook among token holders.
In the derivatives market, traders are showing increased confidence in APT’s upside potential. The funding rate, which measures the cost of holding long versus short positions, is currently at 0.0081%. This positive rate indicates that traders holding long positions are willing to pay a premium, reflecting their optimistic view of 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 acted 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, although such projections are not guaranteed.
The token’s short-term performance remains under pressure, with a 7.23% decline over the past week. This decline is in line with broader market movements, suggesting that external factors are affecting APT’s price action.
Market data indicates that spot traders are also showing increased interest in APT. The increase in currency outflows indicates a shift from short-term trading to long-term holding strategies among market participants.
The combination of rising network activity and increasing outflows from exchanges provides an interesting contrast to the current price action. While the token’s value has declined, underlying statistics indicate continued network growth and user engagement.
Daily transaction volumes of 4.5 million within 24 hours represent a significant level of network usage, indicating that despite price volatility, the blockchain continues to process a large number of user interactions.
The positive funding rate in the derivatives markets adds another layer to the current market structure. At 0.0081%, the rate suggests that futures traders have an optimistic view of APT’s price potential.
Looking at the immediate market environment, APT’s position near the identified demand zone between $7.69 and $8.64 represents a critical time for price action. This zone has previously served as a springboard for upward movement.
Recent data shows that APT trading volume and network statistics continue to diverge from price action, with growing network usage occurring alongside the recent price decline.
