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- APT, the utility token of the Aptos network, has gained over 130% in the last seven days, hitting an all-time high.
- The PankcakeSwap community’s commitment to the network and recent integration into the Atom wallet is linked to the token spike.
- Fantom and Hedera are also on the weekly top gainers list recording over 20% and achieving new milestones.
Digital asset bulls continue to swim in ecstasy after the market’s recent upswing as several assets broke several resistance levels, which they held for months.
Aptos Price (APT) started the year on a rally and has maintained the momentum by gaining over 130% in the past week. APT hit an all-time high of $18.30 after a 24-hour bullish trade, which saw it grow by 41%.
This year, the token price has jumped more than 420% after crashing last year due to controversies around tokenomics and centralization issues. The 420% year-to-date (YTD) growth means that APT has outpaced the YTD growth of the market leaders Bitcoin (BTC) and Ethereum (ETH).
BTC has been up by 30%, while ETH, on the other hand, has gained 33% in 2023. BTC has touched levels not seen for months after hitting pre-FTX highs and then moving to reach $23,400. BTC is currently trading at $23,058, while ETH is trading at $1,602 at press time.
Aptos’ growth has been anticipated after its launch last year by a former Meta employee with the promise of major technical development and increased web3 activity. Although initial growth was hampered by controversy, Aptos now boasts a market capitalization of over $2 billion within months.
The reason behind the graphics
The entire cryptocurrency market has been rallying for weeks, with APT and other assets such as Fantom (FTM) and Hedera (HBAR) among the biggest gainers. The recent renaissance of APT started after the PancakeSwap community voted to stay with the network two weeks ago.
PancakeSwap is the first decentralized exchange (DEX) on the Aptos network and has over $32 million in assets locked in the network. Integration into the Atom Wallet also played a significant role in the surge.
Lastly, decentralized finance (DeFi) activity as a whole is booming on the network in recent weeks with further plans by the team to enter into new non-fungible token (NFT) partnerships. Topaz, APT’s leading NFT marketplace, recorded a sales volume increase of over 250% in the last 30 days.
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