Aptos Cryptocurrency Surges 15.7% to $5.14 on High Volume and Speculative Trading

Aptos, a prominent cryptocurrency, experienced a significant surge, rallying 15.7% to hit $5.14 before slightly retracing to $4.97. This upswing marked a strong recovery from its earlier low of $3.70, reflecting a 15.7% increase over the past 24 hours. The altcoin’s volume surged by 263% to reach $633 million, indicating growing on-chain activity.

Derivatives traders were quick to capitalize on this movement. Aptos’ Perpetual Volume surged to $42.46 million, as speculators raced to ride the rally. This suggests that as the market started to rise, many speculative traders entered the market, reflecting rising risk appetite. Open Interest (OI) also shot up 31% to $205 million. When both Perpetual Volume and OI rise in tandem, it typically signals fresh capital flowing into the market—traders are bracing for higher volatility ahead.

Due to rising demand, investors are purchasing more than selling. This is reflected in a negative Spot Netflow at -$1.74 million. Over 16.5 million APT tokens were scooped up during the surge. Usually, a surge in demand results in higher buying pressure, which precedes higher prices.

According to analysis, Aptos experienced strong upward momentum as buyers made a comeback. When looking at momentum indicators, APT is seeing strong upward movement, as it has recently closed with higher highs. As such, +DI of DMI surged to 29 while the negative index has dropped to 14. Amidst this upswing in positive momentum, the altcoin’s RSI also climbed to 56, edging into the bullish territory and showing no immediate signs of exhaustion.

If momentum continues to build, APT could reclaim the $5.25 level and push toward $5.50. That said, buyers still need to defend $5.00 convincingly to keep this trend intact. Having said that, a failure to reclaim and close above $5.00 may flip sentiment quickly. If rejected, APT could slide back to $4.53.