• Recent data shows a significant increase in active addresses and transaction volumes, indicating heightened activity on the network.
• On the technical front, APT exhibits the potential for a breakout, as both derivative and spot traders place bullish bets on the token.

Despite some signs of recovery, Aptos [APT] has struggled in the short term. At press time, the token was down 6.27% in the past 24 hours, reflecting the broader market downturn.

Over longer timeframes, APT’s performance has remained under pressure, with a 27.20% decline over the past month and a 7.23% drop in the last week.

However, certain market signals suggest APT could regain upward momentum, supported by positive market correlations and increasing network activity.

APT records spike in key metrics

Recent data from Artemis reveals a surge in critical metrics for APT, which could influence its price trajectory in the coming days.

The report indicates that the number of daily active addresses on the Aptos blockchain has soared to 1.2 million, reflecting increased network activity.

Additionally, daily transaction volume has sharply risen, with 4.5 million transactions recorded within 24 hours. These transactions encompass both buying and selling activity, indicating heightened market engagement.

While these metrics alone do not definitively indicate APT’s price direction, further analysis of derivative and spot trading trends suggests the potential for a price recovery.

Spot and derivative traders place buy bids

Spot and derivative market traders are showing increased buying activity, showing a shift in sentiment toward APT.

At the time of writing, APT outflows from exchanges have surged significantly. Over the past seven days, the Total Exchange Netflow for APT reached $15.05 million, a sharp rise compared to the $2.59 million recorded the previous week.

Exchange netflow measures the movement of assets in and out of exchanges. A negative netflow, as observed here, indicates substantial outflows, suggesting traders are transferring their holdings to private wallets for long-term storage—a move often associated with bullish price action.

Derivative market traders are also contributing to the buying momentum. The funding rate, a key metric reflecting trader sentiment, has been steadily increasing over the past eight hours.

According to Coinglass, APT’s current funding rate stands at 0.0081%, indicating that long positions are dominating the market. This positive funding rate shows that long traders are paying a premium, reflecting their bullish outlook on the asset’s potential to rise.

Potential rally to $15

On the charts, the movements of spot and derivative traders align with a critical demand zone between $7.69 and $8.64.

This zone has historically acted as a catalyst for upward rallies on four separate occasions, suggesting the possibility of a similar reaction this time.

Read Aptos’ [APT] Price Prediction 2024–2025

If the demand zone triggers another rally, APT could surge by 76.17%, potentially reaching $15.33. However, if APT fails to immediately react to this level, it may consolidate within the demand zone for a longer period before an eventual breakout to the upside.

Should the current bullish metrics persist, APT is well-positioned for a significant move higher in the market.