APT rises 14% due to strong institutional interest and network advancements.
Network activity peaks with 1,051 transactions per second and 3.75 million active accounts.
Strategic partnerships enhance Aptos’ credibility in the crypto market and expand its reach.
Aptos (APT) is among the top gainers in the cryptocurrency market today, as the post below highlights. While many digital assets struggle, APT has surged by an impressive 14%.
This surge coincides with a notable uptick in network activity, positioning Aptos as a rising star in the blockchain landscape. So, what's fueling this bullish momentum?
https://twitter.com/bitfinmarket/status/1842220031616413825 Surge in Network Activity
Recent data from Aptos Scan reveals a striking increase in network activity on the Aptos blockchain. On October 3, the network processed transactions at a staggering speed of 1,051 transactions per second (TPS).
Such velocity underscores Aptos’ capability to handle substantial demand. Moreover, daily active accounts soared to 3,750,939, reflecting a robust surge in user engagement and network adoption.
This rising activity may translate to increased demand for APT tokens. Greater user confidence often parallels higher usage rates on blockchain networks.
Institutional Interest Fuels Growth
Institutional involvement has significantly contributed to Aptos’ recent price ascent. Notably, Franklin Templeton has integrated $435 million OnChain U.S. Government Money Fund (FOBXX) into the Aptos blockchain.
This integration places Aptos alongside established platforms like Avalanche, Arbitrum, Stellar, and Polygon. Such partnerships elevate Aptos' credibility in the investment community.
Aptos Labs has also made strides in the Japanese market by acquiring HashPalette. This strategic acquisition enhances Aptos’ reach among key Japanese enterprises, including telecom giant KDDI.
Additionally, a partnership with Expo 2025 in Osaka further solidifies Aptos’ standing as the exclusive blockchain provider for the event’s digital wallet system.
As of writing, APT trades at $8.835, a 4.45% increase in the past 24 hours. Technical analysis shows APT recently broke out of a long-term consolidation range.
Immediate resistance lies at $10.7, while a target of $19.00 becomes plausible if bullish momentum continues. However, the Relative Strength Index (RSI) signal overbought conditions, sitting at 68.57.
Traders should proceed with caution, as a significant price correction may follow this recent spike. For now, Aptos stands at a crossroads of opportunity and caution, propelled by institutional interest and growing network activity.
The post Institutional Interest Sparks Aptos’ Growth Amid Network Advancements appeared first on Crypto News Land.
