$300M Trading Volume Sends APT Soaring: Are The Whales Buying?
Aptos (APTO), the cryptocurrency powering the newly launched Aptos layer 1 blockchain protocol, is enjoying a higher breakout on Tuesday amid rising trading volumes.
According to CoinGecko, APTO’s trading volumes hovered around $300 million in the last 24 hours, which is impressive for a cryptocurrency with a market capitalization of only around $1.67 billion.
APTO was up about 6% on the day and was trading near $8.0 a token, having enjoyed short-term technical bullish momentum following a break above a downtrend that had been in play since mid-April and the 50ADM.
Helping to fuel the upside is the continued strong performance of bitcoin (BTC) and ether (ETH), as well as increased transactions on the Aptos network.