- 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 $2.8 billion.
While APT continued to rise, Aptos recently organized an event in partnership with KYD Labs. As a part of the collaboration, Aptos and KYD Labs created the future of fan loyalty through live event ticketing.
Aptos ✊ @KYDLabs
Our NYC event was super charged! The meet up celebrated Aptos’ first step in changing the broken ticketing system.
When we put power back in the hands of creators, the community can focus on what matters–building culture & connection across Web3 and beyond! pic.twitter.com/v7PYoJ2Uot
— Aptos (@Aptos_Network) Јануари 27, 2023
Реално или не, еве APT’s market cap in BTC’s услови
Moreover, there was even better news for the investors- LunarCrush’s data suggested that the pump might continue in the following days. In fact, Аптос was on the list of the cryptos with the highest Galaxy Score, which is a massive bullish indicator.
ТОП 15 монети од @LunarCRUSH Galaxy Score
Galaxy Score – комерцијален резултат кој постојано го мери криптото против себе во однос на метриката на заедницата извлечена од друга мрежа$ ФЛОКИ $КУЛТ $QUACK $YOOSHI $НАКА $KAI $KLV $DEGO $EWT $ WAVES $LSS #C98 $APT $ASM $ БРЗО pic.twitter.com/ylEDgIavR1
— 🇺🇦 CryptoDiffer – StandWithUkraine 🇺🇦 (@CryptoDiffer) Јануари 27, 2023
The good days are far from over
Поглед АПТ’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.
Колку се 1,10,100 АПТ вреди денес
But these can be troublesome
While key on-chain metrics looked bullish, АПТ’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.
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.
Source: https://ambcrypto.com/aptos-outperforms-top-30-cryptos-in-7d-change-reason-is-quite-surprising/