Aptos, a Layer 1 blockchain with an APT token, has been surging since the start of the year, which has seen its value surging by over 400 percent year-to-date. In today’s trading session, despite being down by a percentage point, it was able to set its all-time price high of $19.36 after starting aggressively bullish and, at one point going up by more than 5 percent.
Why has the Aptos Price Been Surging?
Following an impressive start to the year that has seen its value surging by over 400 percent n the past few weeks and setting an all-time price high, speculations about why the crypto is doing well have continued to emerge. Fortunately, there doesn’t seem to be a conspiracy pushing its value to the upside.
The current bullish trend has been partly due to the industry-wide crypto recovery that has pushed other altcoins to the upside. Due to its significant correlations with industry trends, Aptos value has also adopted the general trend of the crypto markets.
The increased activity on the Aptos crypto has also resulted in its price continuing to surge. For instance, in the past 24 hours, we have seen its trading volume surge by more than 100 percent. In most cases, such a huge surge in trading volume always results in crypto projects also going up, as we have seen with Aptos in the past 24 hours, where it has surged by more than 30 percent.
The surge in trading volume can also be explained as continued growth in traction with crypto users. Therefore, as more users invest in the project, the results has been a continued surge in the markets.
Aptos Price Forecast
As seen from the above analysis, Aptos price has surged by more than 400 percent since the year started. Looking at the chart below, the price action shows a high likelihood of a continued price surge for the next few trading sessions, despite it dropping by a percentage point today.
Therefore, my Aptos price forecast expects to see the current long-term bullish trend resuming. There is a high likelihood that we will see Aptos setting a new price high and possibly trading above the $20 price level. A drop below the $15 price level will invalidate my bullish analysis.
Daily Chart
