Aptos price remains under pressure this year, even though the network experienced strong on-chain metrics.
Aptos (APT) fell to $8.35 on Sunday, its lowest since November 5 of last year. It has fallen about 45% from its peak in November.
Aptos has powerful on-chain metrics
According to third-party data, the Aptos ecosystem continues to grow and is doing well. According to Nansen, the number of active addresses on Aptos has continued to grow over the past few months. The number of active addresses now exceeds 1.2 million, an increase from less than 100,000 in August last year.

Further data shows that the number of transactions on Aptos continues to increase this year. The number of 30-day transactions increased by more than 30% to 156 million.
Meanwhile, the total value of its ecosystem continues to rise.
According to DeFi Llama, the total amount locked in the network is over $1.05 billion. Aries Markets, Echo Protocol, Amnis Finance, and Thala are the biggest players in that ecosystem.
Sui also holds over $792 million in stablecoins, Higher than Sui (SUI)'s $465 million. Stablecoins like Tether and USD coin are widely used in the DeFi, NFT, and gaming industries.
The top Aptos network is also seeing an increase in trading volume in the decentralized exchange industry. Over the past seven days, trading volume has surged to $133 million, with Thala, LiquidSwap, and Cellana Finance being the largest players in the ecosystem.
Aptos price technical analysis

The APT token peaked at $15.40 on December 7th, but has now plummeted to around $8. It fell below the 50-day moving average and key support at the Dec. 9 low of $10.53.
On the positive side, Aptos is forming a descending wedge chart pattern consisting of two descending and converging trend lines. These two lines are nearing a confluence, which often leads to a strong breakout.
The MACD and Relative Strength Index indicators are forming a bullish divergence pattern. This divergence occurs when the two indicators rise while the price is trending down.
Therefore, the coin is likely to make a strong bullish breakout, with the first resistance point to watch at $10.53. A break above this level would signal further upside, with the next point at $15.40, an 85% increase from current levels.