{"id":165717,"date":"2023-09-30T14:34:57","date_gmt":"2023-09-30T09:04:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=165717"},"modified":"2023-09-30T14:34:57","modified_gmt":"2023-09-30T09:04:57","slug":"aptos-dex-volumes-surge-678-following-fake-token-incident-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aptos-dex-volumes-surge-678-following-fake-token-incident-crypto-news\/","title":{"rendered":"Aptos DEX volumes surge 678% following fake token incident &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/04\/image-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>Journalist<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 30, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both;float: none\" \/><\/p>\n<ul>\n<li><em>Decentralized exchanges on Aptos experienced a 678% uptick in trading volumes over the last month.<\/em><\/li>\n<li><em>With APT\u2019s Chaikin Money Flow (CMF) forming a bearish divergence, its price might experience a correction in the next few days.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Trading volumes across decentralized exchanges (DEXes) housed within Layer 1 (L1) blockchain <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/aptos\" data-wpel-link=\"internal\">Aptos [APT]<\/a> jumped by over 678.1% in the past 30 days.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Aptos DEX volumes up 678.1% over the past 30 days. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/DOyyKlHX6h\" data-wpel-link=\"external\">pic.twitter.com\/DOyyKlHX6h<\/a><\/p>\n<p>\u2014 ASXN (@asxn_r) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/asxn_r\/status\/1707784180904456586?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">September 29, 2023<\/a><\/p>\n<\/blockquote>\n<p>\u00a0<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/aptos-price-prediction\" data-wpel-link=\"internal\">Aptos\u2019 [APT] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">The surge came on 26 September after news broke that South Korean cryptocurrency exchange Upbit had briefly tagged a scam APT token as the real network\u2019s token and allowed its customers to trade the same.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">While many expected the incident to impact APT\u2019s value negatively, the coin\u2019s price reacted differently. A recent report by <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/how-aptos-reacted-to-the-fake-apt-fiasco-at-korean-exchange-upbit\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">AMBCrypto<\/span><\/a><span style=\"font-weight: 400\"> noted that the coin recorded a 5% growth in value 24 hours following the incident.<\/span><\/p>\n<h4><b>Aptos emerges the victor<\/b><\/h4>\n<p><span style=\"font-weight: 400\">In addition to its native coin, DEXes on Aptos also recorded an uptick in trading volume. According to data tracked by<\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.artemis.xyz\/comparables?tab=chains\" data-wpel-link=\"external\"><span style=\"font-weight: 400\"> Artemis<\/span><\/a><span style=\"font-weight: 400\">, as of 29 September, trading volumes across these platforms stood at 5.5 million, representing the highest daily volume on a year-to-date basis.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For context, this was under 200,000 as of 26 September and grew by 2650% in just three days.<\/span><\/p>\n<div id=\"attachment_347512\" style=\"width: 1162px\" class=\"wp-caption alignnone\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.10.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347512\" class=\"size-full wp-image-347512\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1152\" height=\"1026\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.10.png 1152w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.10-300x267.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.10-1024x912.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.10-768x684.png 768w\" data-lazy-sizes=\"(max-width: 1152px) 100vw, 1152px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.10.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347512\" class=\"size-full wp-image-347512\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.10.png\" alt=\"\" width=\"1152\" height=\"1026\" \/><\/a><\/p>\n<p id=\"caption-attachment-347512\" class=\"wp-caption-text\">Source: Artemis<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Regarding other growth metrics, the number of unique wallet addresses that sent on-chain transactions daily trended upward since 21 September. With 66,950 daily active addresses as of 29 September, this increased by over 200% in the last seven days.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Interestingly, despite the surge in daily active address count and DEX volume, the number of daily transactions completed on the L1 declined in the past week. According to data from Artemis, this fell by 31% during that period.\u00a0<\/span><\/p>\n<div id=\"attachment_347513\" style=\"width: 1162px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.57.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347513\" class=\"size-full wp-image-347513\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1152\" height=\"1026\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.57.png 1152w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.57-300x267.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.57-1024x912.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.57-768x684.png 768w\" data-lazy-sizes=\"(max-width: 1152px) 100vw, 1152px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.57.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347513\" class=\"size-full wp-image-347513\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-30-at-06.15.57.png\" alt=\"\" width=\"1152\" height=\"1026\" \/><\/a><\/p>\n<p id=\"caption-attachment-347513\" class=\"wp-caption-text\">Source: Artemis<\/p>\n<\/div>\n<h4><b>APT may to looking to shed its gains<\/b><\/h4>\n<p><span style=\"font-weight: 400\">APT traded at $5.35 at press time, having lost almost 2% of its value in the last 24 hours, according to data from <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/aptos\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Among daily traders, accumulation continued. As of this writing, the coin\u2019s Money Flow Index (MFI) rested above its center line at 60.81. This suggested that buying pressure exceeded distribution among the coin\u2019s spot traders.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the coin might be poised to initiate a correction and lose some gains logged during the week. On a daily chart, APT\u2019s price traded slightly above the upper band of its Bollinger Bands indicator.\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\">How much are\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-apt-to-usd\" data-wpel-link=\"internal\">1,10,100 APTs worth today<\/a>?<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">When a coin\u2019s price trades this way, it is considered overbought. This means that its price has moved significantly higher than the average price over a period of time and is at risk of a pullback.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Likewise, while the altcoin\u2019s value climbed in the last week, its Chaikin Money Flow (CMF) trended downward. This created a bearish divergence that often precedes a price retracement.\u00a0<\/span><\/p>\n<div id=\"attachment_347514\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/APTUSDT_2023-09-30_06-16-54.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347514\" class=\"size-full wp-image-347514\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"2560\" height=\"1101\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/APTUSDT_2023-09-30_06-16-54.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/APTUSDT_2023-09-30_06-16-54-300x129.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/APTUSDT_2023-09-30_06-16-54-1024x441.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/APTUSDT_2023-09-30_06-16-54-768x330.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/APTUSDT_2023-09-30_06-16-54-1536x661.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/APTUSDT_2023-09-30_06-16-54-2048x881.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/APTUSDT_2023-09-30_06-16-54.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347514\" class=\"size-full wp-image-347514\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/APTUSDT_2023-09-30_06-16-54.png\" alt=\"\" width=\"2560\" height=\"1101\" \/><\/a><\/p>\n<p id=\"caption-attachment-347514\" class=\"wp-caption-text\">Source: APT\/USD, TradingView<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: September 30, 2023 Decentralized exchanges on Aptos experienced a 678% uptick in trading volumes over the last month. With APT\u2019s Chaikin Money Flow (CMF) forming a bearish divergence, its price might experience a correction in the next few days. Trading volumes across decentralized exchanges (DEXes) housed within Layer 1 (L1) blockchain Aptos [APT] [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":165718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-165717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=165717"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165717\/revisions"}],"predecessor-version":[{"id":165720,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165717\/revisions\/165720"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/165718"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=165717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=165717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=165717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}