Can Aptos repeat historic 76% rally as APT hits key demand zone

Recent data shows a significant increase in active addresses and transaction volumes, indicating heightened activity on the network.
On the technical front, APT exhibits the potential for a breakout, as both derivative and spot traders place bullish bets on the token.

Despite some signs of recovery, Aptos [APT] has struggled in the short term. At press time, the token was down 6.27% in the past 24 hours, reflecting the broader market downturn.

Over longer timeframes, APT’s performance has remained under pressure, with a 27.20% decline over the past month and a 7.23% drop in the last week.

However, certain market signals suggest APT could regain upward momentum, supported by positive market correlations and increasing network activity.

APT records spike in key metrics

Recent data from Artemis reveals a surge in critical metrics for APT, which could influence its price trajectory in the coming days.

The report indicates that the number of daily active addresses on the Aptos blockchain has soared to 1.2 million, reflecting increased network activity.

Additionally, daily transaction volume has sharply risen, with 4.5 million transactions recorded within 24 hours. These transactions encompass both buying and selling activity, indicating heightened market engagement.

Source: Artemis

While these metrics alone do not definitively indicate APT’s price direction, further analysis of derivative and spot trading trends suggests the potential for a price recovery.