Aptos (APT) Price Prediction: APT Price Eyeing $10 ?
Aptos (APT) has been showing some promising signs recently. With its price movements over the next few weeks, there's a possibility that it could approach the highs it reached back in March. In this update, we'll explore the factors influencing APT's price and what might drive it toward those past levels. Let's take a look at this Aptos Price Prediction article in more detail.
How has the Aptos (APT) Price Moved Recently?
As of today, Aptos (APT) is trading at $7.20, with a 24-hour trading volume of $344.19 million and a market capitalization of $3.14 billion, giving it a market dominance of 0.14%. The price has dropped by 0.20% over the past 24 hours.
Aptos reached its all-time high of $19.86 on January 30, 2023, while its all-time low was $3.08 on December 29, 2022. Since its peak, the lowest price recorded was $4.39, and the highest since that low was $7.48. Currently, the price prediction for Aptos is optimistic, and the Fear & Greed Index is at 48, indicating a neutral sentiment.
The circulating supply of Aptos stands at 435.95 million APT out of a maximum supply of 1 billion APT. The annual supply inflation rate is 92.86%, with 209.91 million APT added in the past year.
Why is Aptos (APT) Price UP?
Aptos (APT) has experienced a significant price boost recently, with a 16% gain in just a few days and a 15.74% rise over the past week. This impressive upward movement suggests a potential bullish reversal for the coin. The price has surged over 25% in the last week alone, reflecting strong positive momentum.
This recent surge is also accompanied by a substantial increase in derivatives contracts, which have grown by over 50%. This robust growth in derivatives is contributing to the upward pressure on APTs price, pushing it closer to previous highs.
Additionally, the introduction of native stablecoins on the Aptos platform is a significant development.
Stablecoins are crucial for the maturation and scaling of a DeFi ecosystem, and their availability could further enhance the platforms growth and stability. This development, combined with the increased derivatives activity, is fueling the current positive sentiment and driving the price of Aptos higher.
Aptos Price Prediction: Will APT Price Rise?
Aptos (APT) shows promising signs for further price increases based on its recent performance and current metrics. Over the past year, APT has risen by 28%, indicating a positive long-term trend. It is currently trading above its 200-day simple moving average and is nearing its cycle high, which suggests strong upward momentum.
The coin has demonstrated high liquidity, supported by its substantial market capitalization, and has outperformed 67% of the top 100 crypto assets over the past year. Although it has been outpaced by Bitcoin and Ethereum, the recent surge in price, along with the introduction of native stablecoins, adds to its bullish outlook.
However, APT is still down 64% from its all-time high, and the yearly inflation rate stands at 92.86%, which could impact long-term price stability. Despite this, the high liquidity and current trading conditions suggest that Aptos is well-positioned for potential further gains. With a recent surge of 25% in a week and strong performance metrics, the probability of continued price increases looks favorable, provided the market conditions remain supportive.
Read more: https://cryptoticker.io/en/aptos-apt-price-prediction-eyeing-10
Text source: CryptoTicker
