Why Aptos (APT) Increased By 150%?

Key Points:

• Numerous signs point to the fact that the bulk of analysts did not anticipate Aptos’ market growth. APT still established itself as one of the market’s top performers, with a price increase of more than 150% since the start of the recovery.

Numerous signs point to the fact that the bulk of analysts did not anticipate Aptos’ market growth. APT still established itself as one of the market’s top performers, with a price increase of more than 150% since the start of the recovery.

These are the causes that went into it. Given its trading volume in relation to market leaders like Bitcoin and Ethereum, Aptos was one of the most actively liquidated assets in the last 48 hours.

Bulls have absorbed almost $15 million in shorts, causing a short squeeze that propelled the price straight to the new ATH. Bears however did not give up and launched even more short positions, outnumbering bulls on the market even after a large price increase.

Given the lack of a strong resistance level for the price above the current ATH, if the same situation arises on the market, we will witness yet another short squeeze, which will most likely have a stronger impact on the cryptocurrency.

The prolonged lockage period of payments to investors and core developers until November 2023, which enables early retail investors to realize gains, may also have contributed to the significant increase in selling pressure.

Smaller traders should exercise caution, though, as institutional investors and whales control the majority of Aptos. The top 20 holders presently own 97% of the available supply, according to the distribution of funds. This could pose an issue in the future if the majority of asset owners opt to sell their holdings, particularly after the unlocking period in November 2023.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News