Aptos (APT) Price Prediction: On Chain Data Shows Buy Opportunity?
Aptos (APT News): Aptos, the layer one blockchain protocol, is the top 30 cryptocurrency that lost the most value over the past week. APT is currently experiencing low buying pressure which is translating into a decline in price. The ongoing correction is negligible compared to the massive price rise APT experienced in January 2023. The Aptos team also announced that there would be upgrades to the network in the near future.
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The APT price climbed by 450% in January alone. According to CoinGape price tracker, the APT price is at $15.14 as of writing. This is a drop of 3.34% over the last 24 hours.
Recent data from the daily charts shows that APT token holders have been heavily disbursed. According to Santiment Intelligences, this could indicate a decrease in buying pressure. It is often accompanied by a price decline. However, the token is showing positive momentum and a rising price trajectory. Since February began, Aptos sentiment has been negative. This is due to uncertainty about the long-term impact of last month’s massive price rise.
“Weighted sentiment regarding APT was negative, and has been since the beginning of the month.” This indicated that investors are still uncertain about the future of the market and continued negative sentiment.
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