Foreign media reports that APT has been under continuous pressure over the past week, with a drop of over 30%, and the price once fell to $0.61, hitting a record low. In contrast to the weakening price, the number of on-chain transactions on Aptos continues to rise, but the number of active users has decreased significantly, raising new questions about the actual usage of the network.
Price and activity diverge
The report points out that this round of APT's decline occurred during a period when on-chain transactions were still active. In the past 180 days, Aptos has processed more than 1.7 billion transactions, and the daily transaction volume has recently increased from about 5 to 7 million transactions at the beginning of the year to 15 to 19 million transactions.
However, another metric that better reflects user engagement is weakening. Aptos' daily active addresses have dropped from over 1 million earlier this year to a mere 68,800. The article argues that this means the growth in online transactions has not been accompanied by a broader expansion of users.
The market is more concerned about user churn.
In this set of differentiated data, the market is clearly more concerned about the decline in user engagement than the increase in transaction volume. The report mentions that fewer users generating more transactions may mean that some activity comes from a few applications, a concentrated user base, or automated programs, rather than broader organic growth.
This also explains why the increase in on-chain transactions failed to improve APT's price performance. As key support levels were breached, selling pressure intensified, and trading volume increased simultaneously during the decline, indicating that this pullback was more like a deliberate sell-off than volatility caused by insufficient liquidity.
$0.82 becomes a short-term level to watch.
The article argues that after APT broke below the key area of approximately $0.82, the market structure has clearly weakened. Until it regains this level, bears remain in control, and the price remains in a range lacking clear support.
The report noted that if buying interest fails to recover, the market may continue to focus on the performance around $0.60. If risk appetite declines further, the price could even test the $0.50 area. Conversely, if $0.82 can be recovered, market sentiment may ease, creating conditions for a subsequent move towards the $0.95 to $1.15 range.
