- The market cap value of the Aptos crypto is consistently declined over the last few days.
- The price of the APT crypto was outperformed by 79% of the top 100 crypto assets.
Aptos is a layer 1 blockchain token built on the Move programming language, focusing on safety and flexibility. It utilizes parallel processing execution and AptosBFT consensus for efficiency.
APT serves as network fees, validator staking, and governance within the Aptos project, developed by Aptos Labs led by Mo Shaikh and Avery Ching.
The volatility of the Aptos crypto is very high at 14.04%, and its market cap has declined by 4.68% in the last 24 hours at press time. The sentiment for the crypto is also bullish, as per Coincodex.
APT crypto’s market cap dominance is 0.16%, making it the 29th largest cryptocurrency in the world, followed by a market cap of $3.70 Billion. The trading volume for the crypto has further witnessed a decline of 16.97% in the last 24 hours.
APT token is trading with a volume/market cap ratio of 3.17%, and the circulating supply of the crypto is 428.418 million APT. Also, the max supply of the crypto is infinite, and the fully diluted market cap is $9.43 Billion.
The supply inflation of the token is 125.47% which is extremely high compared to its peers.
Also, the stablecoins market cap of the crypto is $90.13 Million and the total value locked for the crypto is $341.52 Million. Moreover, the total raised amount by the Aptos is worth $350.0 Million.
The TVL of the crypto further declined over the last few days. Following this the stablecoin market cap is also declining showing the loss in the interest of investors.
What Does Derivatives Of Aptos Say About The Price Trend?
The derivatives trading volume for Aptos crypto has declined by 27.4% over the last 24 hours. This shows the decline in the trading activity in Aptos crypto.
The open interest has witnessed a slight decline of 6.14% in 24 hours from the press time. Furthermore, a higher long liquidation of $415.70K is recorded in the crypto. Against this, the short liquidation for the crypto is worth just $4.48K.
Technical Charts Showing Weakness In The Crypto Price
From the level of $8.0, the price of APT crypto started to advance and hit the swing high of $19.48. From March 2024, the price of the crypto started to witness profit booking and declined by 57% from the swing high.
The price of the crypto currently is trading at the crucial support of $8.00 at press time and if it further breaks below the same level, a strong downtrend might be seen.
APT/USD Chart by TradingView
The trading price of the APT crypto has declined below the 20,50 and the 200-day EMA on the daily chart. The 20 and the 200-day EMAs have also formed a death cross on the chart indicating strong downtrend.
The MACD metrics are also trading in negative territory while the MACD line has advanced above the signal line showing strength in the price in the short term.
The RSI is also hovering around the lower levels and is trading below the 50-level. It also has declined below the 14-day SMA and is following a bearish cycle.
Summary
Aptos faces declining market cap and interest, with its price nearing equal lows. High volatility and supply inflation add to concerns.
Derivatives indicate reduced trading activity. Technical analysis suggests weakness, with prices below key EMAs and RSI in bearish territory, hinting at a potential downtrend ahead.
The APT crypto might face support at the lower levels of $4.5 and $7.5 where strong swing lows are situated. Also, if the price reverses and surges towards the higher level it might face resistance at the level of $14.2 and $18.0.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.