Aptos outperforms top 30 cryptos in 7D change; reason is quite surprising

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  • Aptos recent­ly con­clud­ed its NYC event in part­ner­ship with KYD Labs.
  • The on-chain met­rics sup­port­ed the mas­sive price hike but the indi­ca­tors were bearish. 

Aptos [APT] sur­prised the cryp­to indus­try over the last few days by reg­is­ter­ing mas­sive price gains. Accord­ing to Coin­Mar­ket­Cap, APT’s price increased by near­ly 40% in the last sev­en days, and at the time of writ­ing, it was trad­ing at $17.63 with a mar­ket cap­i­tal­iza­tion of more than $2.8 billion. 

While APT con­tin­ued to rise, Aptos recent­ly orga­nized an event in part­ner­ship with KYD Labs. As a part of the col­lab­o­ra­tion, Aptos and KYD Labs cre­at­ed the future of fan loy­al­ty through live event ticketing.

Real­is­tic or not, here’s APT’s  mar­ket cap in BTC’s terms

More­over, there was even bet­ter news for the investors- LunarCrush’s data sug­gest­ed that the pump might con­tin­ue in the fol­low­ing days. In fact, Aptos was on the list of the cryp­tos with the high­est Galaxy Score, which is a mas­sive bull­ish indicator. 

The good days are far from over

A look at APT’s on-chain met­rics gave a bull­ish sig­nal, as most of them were sup­port­ive of a con­tin­ued surge. APT’s devel­op­ment activ­i­ty increased in the last week, reflect­ing devel­op­ers’ efforts to improve the network. 

Pos­i­tive sen­ti­ments around APT also increased, reflect­ing investors’ trust in the token. More­over, APT’s pop­u­lar­i­ty saw expo­nen­tial growth as its social vol­ume reg­is­tered an uptick. 

Source: San­ti­ment

How much are 1,10,100 APTs worth today

But these can be troublesome

While key on-chain met­rics looked bull­ish, APT’s dai­ly chart revealed quite a few indi­ca­tors that sug­gest­ed oth­er­wise. For instance, the Rel­a­tive Strength Index (RSI) was in the over­bought zone and reg­is­tered a downtick. 

The Mon­ey Flow Index (MFI) was also hov­er­ing near the over­bought zone, which looked con­cern­ing. APT’s Chaikin Mon­ey Flow (CMF), on the oth­er hand, declined and was head­ing toward the neu­tral mark, fur­ther sug­gest­ing that the price surge might end soon. Nonethe­less, the MACD was still in the bulls’ favor. 

Source: Trad­ingView

That being said, it was pret­ty evi­dent that the bull ral­ly might con­tin­ue for a lit­tle more time before the demand for APT gets arrest­ed by the bears.

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