Aptos Outperforms Market 20%
Aptos climbed up the ranks, winning investors and traders despite the altcoin market slump. The newest market data shows an 18% increase in APT value since last week, suggesting the token may continue to withstand the gloomy market.
Although APT's decision has gained much-deserved attention, it's unclear whether the rapid mood change is a good one. Recent events indicate that Aptos's recent price surge is the start of an upward trajectory that will attract investors and traders.
Messari reviewed the Aptos environment recently. The quarter saw strong increase in most platform metrics. Aptos' DeFi numbers have increased. TVL on the platform increased 123% QoQ. Aptos had $716 million in TVL and rose 11% in 24 hours.
Daily APTUSD chart: TradingView.com, $10.27
The platform's rising user base drove this expansion. Since introduction, average daily new addresses have climbed by 43% QoQ, indicating significant user growth.
In under two years, Aptos CEO and Co-founder Mo Shaikh has served over 20 million addresses, according to a recent interview. An focus on user experience has helped the platform flourish, with Aptos, one of the quickest L1s, processing over 10,000 transactions per second.
Unavoidable $10.41 Rejection, Momentum To Short Positions
Despite APT's incredible rise in the previous 24 hours, bulls are trying to break through the $10.41 resistance level, which will fail before the token stabilizes above $9.31.
APT's short-term direction is negative with its RSI maxed out. Bulls will aim $10.41 in the medium term as the token stays between $9.31 and $10.41.
Investors and traders should still be cautious since the token's RSI indicates a value drop. Bears want to turn $9.31 support into resistance and reach $7.90.
If APT falls below $9.31 in the medium future, investor confidence may drop further.
