Aptos Price Under Pressure Despite Strong On-Chain Metrics

The Aptos price has faced significant pressure this year, with a decline of about 45% from its highest level in November. On Sunday, the price retreated to $8.35, its lowest level since November 5 last year.

Aptos Ecosystem Growth

Despite the decline in price, third-party data shows that the Aptos ecosystem is experiencing strong growth. The number of active addresses on the network has continued to rise over the past few months, with over 1.2 million active addresses, up from less than 100,000 in August last year. Additionally, the number of transactions on the network has increased, with 30-day transactions jumping by over 30% to 156 million.

The total value locked in the Aptos ecosystem has also continued to rise, with a total value of over $1.05 billion, according to DeFi Llama. The network’s biggest players include Aries Markets, Echo Protocol, Amnis Finance, and Thala.

The Aptos ecosystem also has a significant amount of stablecoins, with over $792 million, higher than Sui’s $465 million. Stablecoins like Tether and USD Coin are widely used in the DeFi, NFT, and gaming industries.

Aptos Price Technical Analysis

The APT token has formed a falling wedge chart pattern, comprising of two falling and converging trendlines. These two lines are nearing their confluence points, which often lead to a strong breakout. The MACD and the Relative Strength Index indicators have formed a bullish divergence pattern, indicating a potential strong breakout.

If the price breaks above the initial resistance point at $10.53, it could signal more gains, with the next point being at $15.40, up by 85% from the current level.

From high-leverage trading to innovative credit systems, the possibilities to participate in diverse yield opportunities on Aptos are endless.

Investment Tips

  • Keep an eye on the Aptos price and watch for a potential breakout above $10.53.
  • Consider the strong growth of the Aptos ecosystem and its potential impact on the price.
  • Stay informed about the latest developments in the Aptos ecosystem and the wider DeFi and cryptocurrency markets.

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