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Aptos mainnet was only spear in full in October 2022 amid last year’s tumultuous bear market. Since then, the Aptos development team has been busy. According to Santiment, chain development has been almost constant even if it is far from the highest levels of all time.

Because of this, CoinGecko noted a strong bullish push as Aptos native token APT soared 147% in the weekly time frame. The current sentiment surrounding cryptocurrencies adds to the bullish trend.

According to recent newsthe market may continue its bull run as the Bitcoin derivatives market sends bullish buy signals.

What’s going on at Aptos?

Aptos naming and identity branch, Aptos names, has been on a roll lately as they make their smart contract code open source. According to threadthis would make contracts much more secure as individuals can customize their contracts.

It would also make the code more decentralized, allowing the community to have more input and authority over what can be implemented in the future for Aptos Names.

Image: Aptos Names Twitter

Pancake Swap too continued with its multi-channel deployment on Aptos. Since the proposal, the decentralized exchange has deployed over 14 farms on the blockchain with four APT pairs available.

Investors should watch these levels

According to CoinGecko Data.

Since January 1, Aptos has found three price levels in case the token faces strong rejection in the coming days or weeks.

As it stands, the rally is supported at $12.32. If the token is rejected, investors and traders can count on this crucial support if the $16.01 support is broken.

APT total market cap at $3 billion on the daily chart | Chart:

At present, the token is able to reach these new heights thanks to on-chain developments that give confidence to investors.

As of this writing, January 26, long buyers more numerous short sellers by a very small margin.

Image: Coinglass

This may be a sign that investor confidence in the token’s long-term outlook is still optimistic. For now, investors and traders can cash in some gains to protect against potential downsides in the APT market.

Monitoring the overall crypto market situation is also a must, as market movements by major cryptos can have an effect on the price trajectory of APT.

Image selected by New Scientist

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