- Aptos price has soared to the highest point since October last year.
- It has rebounded by over 300% from the lowest level in December.
Aptos price has done well in a high-volume environment as activity in its network continues rising. APT token surged to a high of $14, the highest level since October last year. According to Binance, the token has jumped by over 300% from its lowest point in December.
Activity in Aptos rises
APT price has staged a strong comeback in the past few months. Most of these gains are because of the overall performance of the crypto market where coins like Bitcoin and Ethereum have been soaring. According to CoinGecko, the total market cap of all cryptocurrencies has risen to over $1 trillion.
Another reason for the rally is that activity in its ecosystem has been rising. The best example of this is in DeFi, where, according to DeFi Llama, the total value locked (TVL) has risen to more than $55 million. This amount is the biggest level on record.
As I wrote in this article, most of these gains are because of PancakeSwap, one of the biggest decentralized exchange (DEX) in the world. Data shows that the PancakeSwap TVL in DeFi has risen by 28% in the past 30 days to about $32.25 million.
Find out how to buy PancakeSwap’s CAKE.
Users of PancakeSwap on Aptos benefit from substantially lower fees than in other chains like Ethereum and BNB Chain. However, its platform only has an Earn and Trade feature. In contrast, its BNB Chain platform has other features like NFT trading and prediction.
AUX Exchange is the other big player in Aptos ecosystem. The platform has no trading fees, has an intelligent price routing mechanism, and has advanced order types. AUX has a total value locked (TVL) of over $11 million. Other platforms with a TVL of over $1.1 million in Aptos are ABEL Finance, Ditto, LiquidSwap, and Tortuga. Meanwhile, Aptos NFT volume is starting to gain traction among traders.
Aptos price prediction
Aptos started making high highs and higher lows in December. As it climbed, the coin made a bullish flag pattern between January 15 and 20. The coin also crossed the key resistance point at $8.76, the highest level on January 5. At the same time, these moves have been supported by relatively high volume and moving averages.
I think this rally has run its course and that a brief pullback to $8.76 is on the line. This price is about 32% below the current level. On the flip side, a move above this year’s high of $14.60 will mean that buyers have prevailed and push it to about $18.
