• Aptos (APT) price has surged 18% in the past week and is currently trading above $6.87.
• The Aptos network has a high record of staked coins amounting to more than 861 million APTs, or 82 percent of the circulating supply.
• If the asset breaks above a logarithmic falling trend on the daily time frame, experts argue for a possible APT price reversal.
This article discusses the recent surge in Aptos (APT) coin price and its potential for market reversal. It also highlights the strong growth of Aptos network with over 4.1 million accounts and 108 validators despite being in existence for less than a year, as well as details about its seed funding round led by Andreessen Horowitz and series A funding round led by FTX Ventures and Jump Crypto.
Aptos Price Surge
The APT coin dropped as low as $5.36 in the first week of June but since then has surged as much as 18 percent this week to trade above $6.87 on Tuesday. Despite being down more than 65 percent from its all-time high (ATH) around $19.92, the project has received notable attention from investors due to its vibrant team of developers and investors which could be contributing to its current resurgence in value.
Aptos Network Growth
More than 82 percent of Aptos (APT) coins amounting to 861,393,064 units have been staked by more than 4.1 million accounts since launch last year. Additionally, the number of daily active addresses on the network have increased significantly over the past three months with an increase from 75,806 on March 1 to 162,071 on June 16 – indicative of heightened demand for the underlying technology within crypto circles.
The proof-of-stake (PoS) layer 1 blockchain was able to raise a whopping $200 million in a seed funding round led by venture capital firm Andreessen Horowitz (a16z). Moreover, another $150 million was raised through series A funding round led by Sam Bankman-Fried’s FTX Ventures and Jump Crypto – both significant successes that prove investor interest within this project and are likely contributing factors towards its current surge in value this week so far.
Whilst Bitcoin is continuing to edge higher fueled by increased whale interest after largest investment management firm filed for Bitcoin ETF offering institutional customers crypto exposure; if APT breaks above a logarithmic falling trend on daily timeframe it could rally nearly 38 percent according to technical analysis of experts – signaling potential market reversal imminent going forward into next weeks trading sessions ahead