Kaikos said the APT token was seeing consistent buy orders larger than $250,000 — all of which were executed on Binance.
Layer1 blockchain Aptos (APT) posted a 44% gain over the last 24 hours to trade at a new all-time high (ATH) of $19.39, according to CryptoSlate’s data.
The positive price performance continues its impressive run over the last 30 days, which has seen it rise by 481%.
APT draws whale
Blockchain analytical firm Kaiko said Aptos had drawn whales movement over the last two weeks. The firm tweeted that the APT token was seeing buy orders larger than $250,000 — all of which were executed on Binance.
However, it noted that the large trades since Jan. 23 were majorly sell orders, coinciding with when the token had a slight price pullback.
Kaiko added that Aptos liquidity is improving — 10% market depth tripling to $14 million from $3.5 million, while its 1% depth rose to $4 million from $1.5 million.
The analytical firm also suggested that APT could be seeing institutional demand on Coinbase — where its “volume of bids is now nearly double the volume of asks.”
Rising interest in Aptos NFTs
Binance Research said that interest in Aptos NFTs is increasing, considering that collections within the ecosystem have seen their sales volume and floor prices rally to new highs. Binance Research said:
“NFT investors [have] start[ed] accumulating them to become early adopters and take advantage of potential flipping opportunities.”
The statement is confirmed by data on Aptos’ largest NFT marketplace, Topaz. Three of the top five collections on the marketplace have seen their sales volume increase by more than 600% respectively — the other two collections rose by over 100%.
Binance Research added that the APT token trading volume is up 147% thanks to the two new liquidity pools opened for the asset on Binance.
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Author: Oluwapelumi Adejumo