- The price of Aptos is up by double digits for the second time in over 4 months.
- APT volume climbs to record high.
On August 9, Aptos made an important announcement regarding its partnership with Microsoft. Following this announcement, there was a notable and substantial reaction in the price and trading volume of APT, the token associated with Aptos.
Read Aptos (APT) Price Forecast 2023-34
Aptos will partner with Microsoft
On August 9, Aptos unveiled a strategic cooperation with Microsoft to “unlock Web3 on the Aptos network”. This collaboration included leveraging Microsoft Azure’s infrastructure to introduce innovative AI-driven blockchain tools such as the Aptos Assistant chatbot.
In addition, to improve network security, Microsoft will facilitate Aptos Labs in serving validation nodes on the Azure platform. Following these revelations, trading volume and development activity statistics surged to record levels.
Today we make Aptos history.@AptosLabs works together with @Microsoft to unlock Web3 on the @Aptos_Network.
like a @msPartner, our joint suite of AI-enabled tools provides developers and users around the world with effortless access to Web3. (1/6) pic.twitter.com/zWsrVWhSql
— Aptos Labs (@AptosLabs) August 9, 2023
Aptos volume, developer activity, and social dominance spike
When news of the collaboration surfaced, Sanitation data revealed significant peaks in volume, developmental activity and social dominance.
According to the Santiment chart, APT’s trading volume rose to over 637 million by the end of August 9. The last time this volume level was reached was around April.
At the time of writing, the volume had climbed even higher, over 741 million, last seen at this volume level nearly five months ago.
In addition, the Santiment chart showed a noticeable uptick in development activity. The trajectory of Aptos development activity had risen to about 87 since about August 3.
However, on August 9, it experienced a notable increase, reaching 115. While there was a slight drop to 112 at the time of this writing, the increase remained evident.
Source: Sentiment
In addition to these trends, there was a marked increase in social dominance, which peaked at over 1.5% when the partnership was announced. However, this figure fell below 1% at the time of writing, indicating a decline in the token’s social prominence.
APT witnesses a spike of almost 11%
On the Aptos daily chart, there was a noticeable 10.52% increase in value leading to a closing price of $7.40 on August 9. The only other occasion when APT experienced a similar sharp rise was on June 17, when it rose more than 11%.
Remarkably, these two cases represented the only instances of double-digit spikes in more than 4 months.
Source: TradingView
How much are 1,10,100 APTs worth today?
However, at the time of writing, the initial excitement seems to have died down. The trade value of the token had settled around $7.2, reflecting a small loss of 1.5%.
Despite this, the overall trend remained bullish, as indicated by the Relative Strength Index (RSI) sitting above the neutral line.