Is Aptos (APT) Crypto Primed for Continued Run-Up?

Aptos (APT), a layer 1 blockchain token, is experiencing a surge in trading volume (84.3% in 24 hours) and market cap (12.7%). With a circulating supply of 396.441M APT out of a total supply of 1.087B APT, the token's bullishness is further indicated by its high sentiment and extreme greed index. Derivatives data reveals increased buyer dominance, while technical analysis suggests a strong uptrend supported by bullish EMAs, MACD, and RSI indicators.

Is Aptos (APT) Crypto Set for Further Gains?

Aptos crypto has been making waves in the crypto market, with a notable surge in trading volume and a market cap that has crossed $7 billion. With less than 40% of its total supply in circulation, APT crypto has plenty of room for growth.

Surging Trading Volume and Market Cap

The Aptos crypto has seen an 84.3% increase in its trading volume over the past 24 hours. This surge has been accompanied by a 12.7% gain in market cap, propelling APT crypto to the 21st spot in the global cryptocurrency rankings.

Volatile and Inflationary, but Bullish

Aptos crypto exhibits high volatility, with a volatility level of 13.6%. Its supply inflation rate is also significant, at 123.17%, compared to its peers. However, the crypto's sentiment remains bullish, with the fear and greed index indicating extreme greed.

Derivatives Data Suggests Buyer Dominance

The derivatives trading volume for Aptos has jumped by 77% over the past 24 hours, hitting $1.06 billion. Open interest has grown by 18.3%. With a long/short ratio of 0.9459, APT crypto has witnessed a significant short liquidation, indicating a higher level of buyer confidence.

Growing Blockchain Activity

Alongside the surge in trading, the volume and total value locked (TVL) for Aptos crypto have been rising steadily. The current TVL stands at $495.9 million, while the stablecoins market cap has reached $93.34 million.

Technical Analysis Points to Continued Momentum

APT crypto's price has been on an upward trajectory, displaying a parabolic momentum. Since its November 2023 lows, the crypto's price has risen by over 280%. This strong buying sentiment suggests that the price could continue to climb.

Bullish Indicators Support Price Surge

Technical indicators on the daily chart are predominantly bullish. Exponential moving averages (EMAs) are bullish, with the price having risen by 45% from the 50-day EMA. The MACD line and signal line are both in positive territory, and histograms on the chart are bullish as well.

Conclusion

With its strong performance in terms of volume, market cap, and technical analysis, Aptos (APT) crypto is poised for further growth. The crypto's high bullish sentiment, extreme greed indicators, and derivatives data suggest that the upward momentum is likely to continue. Investors should note that this article is for informational purposes only and does not constitute financial advice.