Aptos APT/USD is topping monthly gains, up 437% at $18.77, outperforming advances clocked by apex crypto Bitcoin BTC/USD and Ethereum ETH/USD.
What Happened: APT was hovering around the $3 to $4 mark for the first few months of its launch, until Jan 9 when the price started moving to over $15. This represents a 275% move in two weeks.
So…$APT has been outperforming in the last couple of weeks. Why? What is the latest with #Aptos and what is coming up for this new #Layer1?— Binance Research (@BinanceResearch) January 25, 2023
A #Binance Research thread
BTC was up 37% and ETH at 31.8% in the last 30 days, according to data from Benzinga Pro.
Binance Research has identified several factors contributing to Aptos' recent price rally. First, NFTs from Aptos has been experiencing a surge in both floor price and trading volume.
See More: Best Crypto Day Trading Strategies
Subsequently, on January 20, Binance opened two new liquidity pools for Aptos pairing APT with BTC and USDT. According to data from CoinMarketCap, this has resulted in a 56% increase in the price of APT and a 147% increase in the trading volume.
Last but not the least, Aptos is a recently launched proof-of-stake blockchain that utilizes the Move programming language, which also drove its surge.
Read Next: Bitcoin, Ethereum, Dogecoin Spike: Analyst Warns Apex Crypto Could Dip Back To $20K If Tech Selloff Intensifies
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Get ready to uncover the secrets of decentralized finance and security in the crypto market with Crypto Unlocked , Benzinga's new virtual crypto event series. Don't miss out on this opportunity to learn from the experts and connect with fellow crypto enthusiasts — subscribe and turn on notifications for Crypto Unlocked on YouTube today !