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5 reasons why the Aptos (APT) rally could still have wings

Published 01/27/2023, 04:30 PM
Updated 01/27/2023, 06:00 PM

Aptos’ APT reached a new all-time high of $20.39 after posting gains exceeding 400% since the start of 2023. While the rally could just be a pump-and-dump event due to the perception of weak fundamentals, increasing negative sentiment toward the token will likely fuel the prices in the short term.

Let’s explore some of the factors that could be propelling the Aptos price rally.

Aptos transaction volume by purpose of transactions. Source: Pinehearst
Number of active developers working on blockchains and dApps. Source: token terminal
Funding rate for APT perpetual swaps. Source: Coinglass
Aptos spot trading data. Source: Coingecko

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