Key takeaways
- APT is the top performer among the 50 largest cryptocurrencies by market cap, rising 7% in the past 24 hours.
- The rally follows Bitwise filing an amendment to its Aptos ETF application with the SEC.
Bitwise submits amendment to its Aptos ETF filing with the SEC
APT, the native token of the Aptos blockchain, is the best-performing asset among the top 50 cryptocurrencies by market capitalization. The token gained roughly 7% over the last 24 hours and is trading above $5 per coin.
This upward move followed a Thursday announcement from the Aptos Foundation that Bitwise filed an amendment to its Aptos ETF application with the United States Securities and Exchange Commission (SEC). Market observers view the filing as a positive sign, suggesting continued regulator engagement and aligning with recent spot-ETF approvals.
Additional positive momentum for Aptos comes from the planned Aave V3 integration. Together, these developments encouraged buyers to take control of the market and push APT above the $5 level. If bullish momentum persists, APT could challenge the $6 mark in the near term.
APT targets incentive liquidity at $6.30
While the APT/USD 4-hour chart remains technically bearish at a higher timeframe, shorter timeframes have turned bullish following the recent rally. Technical indicators are shifting in favor of buyers, indicating increased buying pressure.
The relative strength index (RSI) sits near 62, signaling more buyers entering the market, and the MACD lines have crossed into positive territory, reinforcing the bullish case.
If the bullish trend holds, APT may test the incentive liquidity (ILQ) level near $6.30 within hours or over the weekend. Should the rally extend, APT could target transaction liquidity (TLQ) at $7.07, a level last seen in April 2025.
Despite the short-term bullish signals, the 4-hour structure retains a bearish bias, meaning APT could face selling pressure at the liquidity targets noted above. If selling intensifies, APT might retrace to the lower support near $3.72. A failure to hold that support could open the door for sellers to push APT below $3 for the first time this year.