Aptos gained 54% in 24 hours, maintaining its bullish form for the year

Since the turn of the new year, the crypto market has seen a significant boom. Over the past three weeks, several assets have experienced price gains, such as Bitcoin, which gained more than 37% to trade above $21,000 for the first time in two months.

While this is an impressive feat, altcoins have been the real stars of the market, with many outperforming the market. Aptos (APT), one of the trailblazing tokens of 2023, has recorded a mere 54.73% gain in the last 24 hours. Data from CoinMarketCap.

APT has been one of the best performing coins in 2023, gaining over 248% since the beginning of the year. Although it is a relatively new token, its value growth in 2023 is higher than many market giants, including Ethereum (ETH), Solana (SOL), Ripple (XRP) and of course – Bitcoin (BTC).

At the time of writing, Aptos (APT) is trading at a market price of $12.60. According to CoinMarketCapThe daily trading volume of the token has also increased by 373.99%, reaching a value of $1.82 billion.

Apt

APT Trading $12.64 | Source: APTUSD Chart on Tradingview.com

What is behind the rise of APT?

Aptos was launched on October 22, 2023, making it one of the newest projects in the crypto space. On October 23, the APT token achieved an ATH value of $10.25. However, APT started the New Year trading at $3.43 due to the FTX crisis in November.

That said, the dramatic rise in APT’s price so far can be attributed to a number of factors. One of which is the growing support from various crypto projects. On January 6, PancakeSwap, the largest BNB chain DEX, announced Its deployment on the Aptos blockchain follows approval by its user community.

The week following this announcement, the APT price increased by 97.6%, marking the beginning of the APT price rally in 2023. announced They will immediately provide support for APT.

Another key factor in APT’s impressive price growth is the continued buzz around the project since it originated from the now-defunct Meta Diem blockchain initiative.

Additionally, Aptos has been designed with many interesting features, including its unique programming language – Move – which has led many investors to consider it compatible with Ethereum, Solana, and other established smart contract platforms. Considered as a blockchain with great potential to become a major competitor.

What to Expect from Aptos in 2023

The Aptos blockchain is definitely one to look out for in 2023. According to the project roadmap, the developer team will be the main focus Implementation of demand based gas charges In an effort to rapidly reduce existing gas fees on the network.

If successful, it is expected that such an upgrade could positively impact an APT token that is already soaring high in the clouds. However, it goes without saying that this is mere speculation and should not be relied upon in making investment decisions.

Feature Image: Chart from Boxmining, Tradingview.com



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