Aptos price extends gains on broader crypto market recovery, presence in Osaka expo
- APT token rises for the second consecutive day amid a widespread crypto recovery and expectations of growing adoption.
- Aptos powers the official digital wallet of Expo 2025 in Osaka, processing over 588,000 transactions with 133,000 new accounts.
- Expo pavilions offer collectible NFTs on Aptos, enhancing user engagement.
Aptos (APT) price edges higher, increasing by over 2% and trading at $5.34 at the time of writing on Wednesday. This recovery comes after a lengthy drawdown in the first quarter caused by uncertainty in the macroeconomic environment amid tariff tensions and an escalated trade war between the United States (US) and China. APT's upward move can be attributed to a broader bullish sentiment in the cryptocurrency market and the presence of the Aptos team at Expo 2025 in Osaka, Japan.
Aptos digital wallet hits key milestones at Osaka expo
Aptos announced on Wednesday that it had hit several milestones at the Expo 2025, which started on April 13. As the official digital wallet provider of the event, Aptos processed more than 558,000 transactions and added over 133,000 new accounts in the first week.
User engagement at the expo showed spirited experiences and immersion in exhibition content featuring artworks, innovations, architecture, culture, and non-fungible tokens (NFTs) from different countries.
Expo pavilions offered NFT passport stamps powered by Aptos' soulbound innovation. The Aptos team is eyeing more achievements and enhanced user engagement in the coming weeks, with the expo expected to last until October 13.
One week in. Six months to go 🫡🇯🇵
— Aptos (@Aptos) April 23, 2025
Aptos is bringing the vibes as the digital wallet of @expo2025_japan!
558K+ transactions. 133K+ new accounts.
Aptos isn't just scaling—we're out to make history 💪
Catch more Opening Week alpha from the growing Aptos community 🧵 https://t.co/Gq2yXW1Top
How strong is Aptos' price uptrend?
Aptos' price hovers at $5.34 on Wednesday, with the 50-day Exponential Moving Average (EMA) providing immediate support at approximately $5.32. APT sits above the five-month descending trendline, indicating a potential trend reversal and a recovery eyeing the next resistance range between $8.00 and $10.00.
A buy signal from the Moving Average Convergence Divergence (MACD) indicator, along with green histograms and increasing volume, will continue to shape Aptos' technical outlook in the coming days.
APT/USDT daily chart
Looking ahead, traders could anticipate challenges at other minor but liquidity-rich areas such as the 100-day EMA at $6.18 and the 200-day EMA at $7.21. Sudden pullbacks could arise from these regions due to profit-taking and macroeconomic uncertainty.
Holding above the 50-day EMA in the coming sessions will strengthen trader interest. If not, Aptos risks losing momentum, potentially pulling back below the descending trendline. This could target April's low of $3.89.
Open Interest, funding rate FAQs
Higher Open Interest is associated with higher liquidity and new capital inflow to the market. This is considered the equivalent of increase in efficiency and the ongoing trend continues. When Open Interest decreases, it is considered a sign of liquidation in the market, investors are leaving and the overall demand for an asset is on a decline, fueling a bearish sentiment among investors.
Funding fees bridge the difference between spot prices and prices of futures contracts of an asset by increasing liquidation risks faced by traders. A consistently high and positive funding rate implies there is a bullish sentiment among market participants and there is an expectation of a price hike. A consistently negative funding rate for an asset implies a bearish sentiment, indicating that traders expect the cryptocurrency’s price to fall and a bearish trend reversal is likely to occur.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
