Aptos (APT) Price Snowballs 147% As On-Chain Development Increases

Aptos Mainnet was just started Fully back in October 2022 amid last year’s tumultuous bear market. Since then, Aptos’ development team has been busy. According to Santiment, Progress on China has been almost constant even though it is far from all-time highs.

For this reason, Coin Gecko Aptos, as APT’s native token, noted a strong rally with a 147% increase in the weekly timeframe. Adding to the current sentiment around cryptocurrencies is bullish.

According to Recent newsthe market may continue its rally as the Bitcoin derivatives market sends bulls buying signals.

What’s happening at Aptos?

Aptos name and identity arm, Names of Aptos, has been on a roll lately as they open source their smart contract code. According to ThreadThis will make contracts more secure as individuals can customize their contracts.

It will also further decentralize the code, giving the community more input and control over what can be implemented for Aptos Names in the future.

Image: Aptos Names Twitter

Also PancakeSwap Continued With multi-chain deployment on Aptos. Since the proposal, the decentralized exchange has deployed more than 14 farms on the blockchain with four APT pairs available.

Investors should watch these levels.

The ongoing rally for APT is something the bulls are relishing, making APT among the top gainers in almost all time frames, according to CoinGecko data.

Since January 1st, Aptos has found three price levels if the token faces a sharp decline in the coming days or weeks.

As it stands now, the rally is being supported at $12.32. If the token faces a rejection, investors and traders can count on this key support if the $16.01 support is broken.

APT total market cap at $3 billion on the daily chart | Chart: TradingView.com

Right now, the token is able to reach new highs as a result of on-chain developments that give investors confidence.

At the time of writing, 26 January, long buyers More numbers Short sellers with very little margin.

Image: Coinglass

This could be a sign that investor confidence in the token’s long-term prospects is still optimistic. For now, investors and traders can cash in some gains to avoid a possible downturn in the APT market.

It is also important to keep an eye on the overall crypto market situation as the market movements of major cryptos can affect the APT price movement.

Featured image from New Scientist

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