Aptos Price Continues to Defy Gravity as Activity Rises

Aptos price has been one of the best-performing cryptocurrencies in 2023 as it roared to its highest point on record. APT jumped to a high of $20.45, the highest point on record. In all, it has jumped by more than 493% from the lowest level of all time. 

Why Aptos is soaring

Aptos is one of the fastest public blockchains in the world. It is an Ethereum rival that acts as a foundation for developers to build adaptive and high-quality applications across all sectors. The network, which is well-funded, has excellent speeds of more than 10,000 transactions per second.

Aptos has gained a lot of traction in the past few months. A good way to look at it is to consider the volume of assets that have been locked in the ecosystem. Data compiled by DeFi Llama shows that Aptos has a total value locked (TVL) of more than $75 million. 

The number of apps in its ecosystem has been on a steady growth in the past few months. According to DeFi Llama, the number of DeFi apps in its ecosystem have grown to 16. It has a total value locked (TVL) of more than $75.65 million, making it one of the biggest players in the industry. 

PancakeSwap is the biggest app in its ecosystem with a TVL of over $34 million. This is notable because the DeFi platform moved to the network just a few months ago. Other large players in Aptos are Tortuga, AUX Exchange, LiquidSwap, and Ditto among others.

Aptos is also becoming a major player in the NFT space. While its scale is not the size of chains like Ethereum and Solana, it is gaining traction in the industry. Some of the most popular Aptos NFT collections are Aptos Undead, Aptos Ant Club, and Aptoads among others.

Aptos price prediction

While Aptos price is soaring, a key challenge is that most of tokens are held by insiders. In its document, Aptos noted that 13.48% and 16.50% of all tokens went to investors and the Foundation. The community only received 51% of the total tokens. Still, this is a common situation among most blockchains. 

The four-hour chart shows that the Aptos price has been in a strong bullish trend in the past few days. In this period, APT has moved above all moving averages. It has also risen above the key resistance levels at $8.85 and $14.60, which were the highest levels on 15th January and January 2022. 

Aptos price has moved above all moving averages. Therefore, the coin will likely have a bearish breakout in the coming days. If this happens, the next key support level to watch will be at $14.60.