Institutional Interest Drives Aptos (APT) Price Rally

• Aptos (APT) has seen a notable 14% price surge, driven by a sharp increase in network activity, processing over 1,051 transactions per second and reaching 3.75 million daily active accounts.
• Institutional interest in Aptos is rising, with key partnerships such as Franklin Templeton integrating its $435 million fund.

Aptos (APT), the native token of the Aptos blockchain, has shown an impressive 14% surge in price amid growing network activity. This comes as many other cryptocurrencies struggle in a challenging market environment. The APT token, which powers the high-performance Layer 1 blockchain, has caught the attention of traders and analysts.

Recent data shows a sharp increase in network activity. According to Aptos Scan, several key network metrics hit new highs. On Wednesday, October 3, Aptos processed transactions at a phenomenal speed of 1,051 transactions per second (TPS). Daily active accounts (DAA) also spiked to 3,750,939, marking a significant rise in network adoption.

These figures reflect increasing activity on the Aptos network, potentially leading to heightened demand for the APT token as usage rises. Higher activity often aligns with increased user confidence in a blockchain network. This could also boost the Aptos price.

Institutional Interest in Aptos Surges Amid Partnerships

Institutional interest in Aptos has played a crucial role in its recent surge. Franklin Templeton, a major global investment management firm, has integrated its $435 million OnChain U.S. Government Money Fund (FOBXX) into the Aptos blockchain, per the CNF report. This fund is now available on Aptos alongside Avalanche, Arbitrum, Stellar, and Polygon.

In addition, Aptos Labs has made moves to expand its presence in the Japanese market by acquiring HashPalette, a subsidiary of HashPort Inc., reported CNF. HashPalette has strong relationships with key Japanese enterprises, such as telecom giant KDDI. 

Aptos has also secured a significant partnership with Expo 2025 in Osaka. In this collaboration, it will be the exclusive blockchain provider for the event’s digital wallet system. This partnership further strengthens Aptos’ presence in Japan.

APT Price Technical Indicators

As of press time, APT price traded at $9.04, rallying by 13.45% in the last 24 hours. This increase stands out given the sluggish market performance with Bitcoin at $61,400. Meanwhile, over the past month, The APT price has surged by 44.57%. This gain easily outperforms competitors like Solana (SOL), which has only gained 7.52% in the same time frame.

From a technical standpoint, APT recently broke out of a long-term consolidation range, leading analysts to watch for key price levels. Immediate resistance is seen at $10.7, while a more ambitious target sits at $19.00 if bullish momentum persists. Besides, the Aptos DeFi ecosystem is also witnessing explosive growth, reported CNF.

However, the Relative Strength Index (RSI) is currently at 64.24, nearing overbought territory. This suggests that traders should be cautious in the short term as a massive dump could follow the latest price surge.