Aptos recently closed its NYC event in partnership with KYD Labs.
The on-chain metrics supported the massive price increase, but the indicators were bearish.
Aptos [APT] surprised the crypto industry in recent days by posting huge price gains. According to CoinMarketCapAPT’s price is up nearly 40% in the past seven days, and at the time of writing, it is trading at $17.63 with a market cap of over $2.8 billion.
As APT continued to rise, Aptos recently hosted an event in partnership with KYD Labs. As part of the partnership, Aptos and KYD Labs created the future of fan loyalty through live event ticketing.
Aptos ✊ @KYDLabs
Our NYC event was super charged! The meeting celebrated Aptos’ first step in changing the broken ticketing system.
When we give power back to creators, the community can focus on what matters: building culture and connection within Web3 and beyond! pic.twitter.com/v7PYoJ2Uot
— Aptos (@Aptos_Network) January 27, 2023
Realistic or not, here it is APT’s market cap in BTCs requirements
Plus, there was even better news for investors: LunarCrush data suggested the pump could continue for the next few days. In fact, Aptos was on the list of the cryptos with the highest Galaxy Score, which is a huge bullish indicator.
TOP 15 coins from @LunarCRUSH Galaxy score
Galaxy Score – proprietary score that crypto continually measures against itself with respect to the community metrics it pulls in from the internet$FLOKI $CULT $KWAK $YOOSHI $NAKA $KAI $KLV $DEGO $EWT $WAVES $LSS #C98 $APT $ASM $ FAST pic.twitter.com/ylEDgIavR1
— 🇺🇦 CryptoDiffer – StandWithUkraine 🇺🇦 (@CryptoDiffer) January 27, 2023
The good days are far from over
Take a look at APTThe on-chain metrics gave a bullish signal as most of them supported a sustained increase. APT’s development activity increased over the past week, reflecting the developers’ efforts to improve the network.
Positive sentiment around APT also increased, reflecting investor confidence in the token. In addition, APT’s popularity grew exponentially as its social volume increased.
Source: Sentiment
How many 1,10,100 APTs worth today
But these can be tricky
While key on-chain metrics looked optimistic, APT‘s daily chart revealed quite a few indicators that suggested otherwise. For example, the Relative Strength Index (RSI) was in the overbought zone and registered a downtick.
The Money Flow Index (MFI) also hovered near the overbought zone, which looked worrying. APT’s Chaikin Money Flow (CMF), on the other hand, declined and moved towards neutral, further suggesting that the price surge could soon come to an end. Nevertheless, the MACD still favored the bulls.
Source: TradingView
That said, it was pretty clear that the bull rally could continue for a while before demand for APT is held back by the bears.
This post Aptos Outperforms Top 30 Cryptos in 7D Change; reason is quite surprising
was published first on https://ambcrypto.com/aptos-outperforms-top-30-cryptos-in-7d-change-reason-is-quite-surprising/
