Aptos outperforms other coins in the top 50; here’s why
Key takeaways
- APT is the best performer among the top 50 cryptocurrencies by market cap, up 7% in the last 24 hours.
- The rally comes after Bitwise filed an amendment to its Aptos ETF application.
Bitwise files an amendment to its Aptos ETF application with the SEC
APT, the native coin of the Aptos blockchain, is the best performer among the top 50 cryptocurrencies by market cap. The coin added 7% to its value in the last 24 hours and now trades above $5 per coin.
The positive performance comes after the Aptos Foundation announced on Thursday that Bitwise has amended its Aptos ETF application with the United States Securities and Exchange Commission (SEC). This is a good sign as it indicates SEC engagement and tracks with other spot approvals.
Furthermore, Aptos will soon launch on Aave V3. These latest developments resulted in buyers taking control of the Aptos market and pushing APT’s price above $5. If the bullish momentum continues, APT could cross the $6 mark soon.
APT targets ILQ at $6.3
The APT/USD 4-hour chart is bearish and efficient, but the lower timeframes have turned bullish thanks to its latest rally. The technical indicators are also turning bullish, suggesting buying pressure.
The relative strength index of 62 shows that more buyers are entering the APT market, while the MACD lines crossing into the positive region cements the assertion.
If the bullish trend persists, APT could test the Inducement Liquidity (TLQ) level at $6.30 over the coming hours or during the weekend. In the event of an extended rally, APT will take out the Transactional Liquidity (TLQ) at $7.07, its highest level since April 2025.
However, the 4H chart is still bearish and efficient, which means APT could face selling pressure at any of the above-mentioned liquidity levels. Once mitigated, APT could dip and test the low at $3.72. Failure to defend this support level could allow sellers to short APT below $3 for the first time this year.
