The Aptos (APT) network, a layer 1 (L1) blockchain that has attracted significant crypto attention, has rallied more than 385 percent in the past 30 days. Trading around $18.25 on Thursday, the APT market has recorded total liquidations of about $6.08 million in the past 24 hours. As more traders take profits, the APT bulls are losing the rising momentum that has existed for the whole of January.
As such, the latest layer 1 blockchain with huge on-chain activity may be looking into an imminent correction. Furthermore, the APT price in the four-hour time frame has broken from a rising trend line.
Nonetheless, the Aptos developers are busy building infrastructure to onboard more NFT and crypto traders. As a result, the Aptos price could rally onward to the price discovery region and set new ATH.
Aptos (APT) Network Welcome New Upgrades
Backed by hundreds of developers distributed around the world, the Aptos network is constantly getting upgrades to meet the demand for decentralized applications. On Wednesday, the Aptos blockchain announced the release of a new upgrade dubbed v1.2.4. Notably, the Aptos node upgrade is meant to bring new features and enhancements to the developers and reciprocate to users.
With the new upgrade, the Aptos blockchain added exponential back-off to reduce timeouts for full nodes in low-bandwidth environments. Additionally, Aptos v1.2.4 has made several small performance optimizations to reduce latencies and better handle timeouts.
Previously, the Aptos team had made several changes including some that could render the network incapacitated.
“Our team also fixed a couple of bugs that had the potential to crash the validator or DoS the system. We identified these issues as part of our routine third-party auditing and bug bounty program,” Aptos Lab noted.
Source: https://coinpedia.org/altcoin/aptos-labs-announces-new-features-apt-price-massive-surge-on-horizon/