The layer-1 blockchain network Aptos (APT), which is thought to be a formidable rival to Solana, has seen a 10% increase in intraday trading as demand has increased for the first time in weeks. Aptos is trading at $10.08 at the time of writing, bringing its market capitalization to $3,094,513,055. The trade volume has increased by almost 89% to $448,027,268; this is an interesting statistical insight.
Aptos growth trend
Despite having a community that is often less engaged, Aptos is a consistent high flyer in the larger world of digital currencies. As of October 13, the price of the cryptocurrency has dropped to $4.8341 from its all-time high (ATH) of $19.90, highlighting the long-term price decline driven by early adopters who were profiting from the coin.
An intriguing picture is painted by data from Cryptorank, which shows that Aptos has printed more red months than green ones so far this year. Intense sell-offs of Aptos occurred throughout the next eight months, following a 384.1% rise at the end of January. The digital currency had a 29% decline in APT at the end of February, a 4.38% decline in March, an 8.09% decline in April, and a 19.3% decline in May.
When APT concluded October with a 28.4% growth rate, the situation changed. The tendency persisted in November when the protocol terminated with a 0.1% growth, albeit only slightly. Given that it has risen as high as 43.1% this month, Aptos may be able to close December on a good note thanks to the demand bump indicated by its trading volume, which is in line with recent trends.
Banking on functional relationships
The technology that Aptos has developed has the potential to grow significantly since conventional institutional players are embracing it. As was previously announced in August, Aptos and Microsoft signed a significant agreement that would increase Aptos’ capacity for tokenization.
Such related collaborations, such as those involving Mastercard, may eventually begin to assist Aptos in improving its outlook.
