Active addresses on the Aptos network have exploded to over 1.8 million, more than doubling from the previous month, while daily transactions remain robust at approximately 1.7 million. Despite this surge in user adoption, the APT price has declined sharply, falling nearly 27% monthly to trade around $2.67, highlighting a disconnect between network growth and capital inflow.
A recent token unlock on November 5 injected $30.3 million worth of APT into circulation, yet the price saw a brief uptick amid declining trading volume, raising questions about whether this move reflects genuine demand or thin liquidity. Total Value Locked (TVL) hovers near $1 billion, still below previous peaks, and perpetual trading volume for APT surged 62% in a week, according to DefiLlama data.
Institutional confidence remains strong, with Bitget's CEO endorsing Aptos at Hong Kong FinTech Week as a key bridge between traditional and decentralized finance. Half of Bitget's institutional users on Aptos now access the network through regulated channels, bolstered by partnerships with Microsoft and AWS. The platform's use of the Move programming language, modular architecture, and high throughput is praised for enabling secure, scalable smart contracts and seamless developer updates.
From a technical perspective, APT broke below a descending wedge pattern, with the Cumulative Volume Delta (CVD) showing weak buying pressure at $227.43K. The MACD indicator suggests fading seller momentum, but resistance at $3 and $4 levels must be overcome to shift sentiment. Short liquidations totaling $6.54 million have pressured the price, with Binance accounting for $1.56 million in leveraged shorts. Liquidity concentration around $2.80, with over $1 million in orders, indicates potential for upward movement if buying pressure resumes, potentially triggering a short squeeze toward the $3 zone.
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