Aptos (APT) Trading Volume Remains High, Signaling Potential for More Gains
On-chain data reveals that the trading volume of Aptos (APT) has remained remarkably high even after a recent rally, suggesting that there may be further gains on the horizon. Despite a pullback, Aptos still boasts a 9% increase, making it the top performer among the top 100 assets by market cap.
Aptos Social Dominance Calms Down, But Trading Volume Remains Elevated
The surge in Aptos’ price was fueled by a partnership between tech giant Microsoft and Aptos Labs to develop blockchain-based AI tools. However, the excessive hype surrounding the coin contributed to the rally topping out and a subsequent price decline. The social dominance of Aptos on social media has since calmed down, indicating a return to healthier levels of hype. Meanwhile, the trading volume of APT has continued to rise and has reached its highest point since March.
High Trading Volume Suggests Aptos Rally Isn’t Over Yet
A significant increase in trading volume is typically needed to sustain a substantial price movement. With the trading volume of APT continuing to grow, it may be an indication that the Aptos rally is not yet over. The development activity of the project’s public GitHub repositories has also been steadily rising in anticipation of the partnership announcement.
Hot Take: Aptos (APT) Shows Potential for Further Growth
The sustained high trading volume and the calming of social dominance suggest that Aptos may still have room for further growth. Crypto investors should keep an eye on Aptos as it continues to demonstrate strong market performance.
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