Home » Aptos: APT token explodes 230% over the last two weeks, why?

Aptos: APT token explodes 230% over the last two weeks, why?

by Thomas

While the cryptocurrency market caught its breath about ten days ago, some crypto-currencies are standing out and outperforming the leaderboard. This is particularly the case for the APT token of the Aptos blockchain, which has seen a meteoric rise especially in recent days, and for different reasons.

Aptos’ APT is outperforming the rest of the market

The market has been in the green for the last 10 days or so, and it feels good. Bitcoin (BTC) and Ether (ETH) are up 10 percent and 5.1 percent, respectively, leading the overwhelming majority of altcoins in their climb.

But some of them are experiencing momentum that is propelling them above this already largely bullish crypto market, as is the case with APT, the Aptos blockchain token, which has climbed 230% over the past 14 days.

But its most notable momentum has come in the last 3 days, as APT has simply climbed 85% in the space of 2 days. At the time of writing, APT is trading at $12.95, shortly after signing its highest price (ATH) since its existence at $14.47.

Figure 1 - APT token price trend

Figure 1 – APT token price trend


Launched last October, the Aptos project got off to a mixed start, mainly due to the late disclosure of its tokenomics, which were also seen by many observers as likely to favour the blockchain founders. Indeed, the latter have allocated half of the billion APT tokens set up, which has led many investors to fear a massive dump.

For its part, the Aptos team claims that the APT tokens in question will be distributed gradually in order to prevent this kind of problem. At the time of the tokenomics revelation, Aptos CEO Mo Shaikh also claimed that the distribution was done “with the community at the centre”.

APT overtakes Solana, Polygon and Avalanche

As a result of this rise in APT’s share price, APT has overtaken Solana’s SOL and Avalanche’s AVAX in terms of fully diluted value (FDV) market capitalisation. This metric adds the still undistributed tokens to the traditional market capitalisation in order to have a more global representation.

Figure 2 - Ranking of cryptocurrencies by total diluted market capitalisation

Figure 2 – Ranking of cryptocurrencies by total diluted market capitalisation


What has led to such a rise in the value of APT? Well, according to Aptos’ non-fungible token (NFT) platform, Topaz, it appears to be due to the trading volumes of the largest collections exploding. The floor prices of many NFT collections on Aptos have also risen sharply recently, such as the Aptos Monkeys, Aptomingos, AptoPunks and My Ducks collections.

But this is not the only reason, as on 20 January, Binance announced the launch of APT/BTC and APT/USDT liquidity pools, which allows APT holders to generate returns by depositing their tokens on the platform.

Thus, the combination of these 2 pieces of news has contributed to the explosion of the APT price, and it is currently impossible to predict when it will end.

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