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Aptos Price Continues to Defy Gravity as Activity Rises
Aptos price has been one of the best-performing cryptocurrencies in 2023 as it roared to its highest point on record. APT jumped to a high of $20.45, the highest point on record. In all, it has jumped by more than 493% from the lowest level of all time.
Why Aptos is soaring
Aptos is one of the fastest public blockchains in the world. It is an Ethereum rival that acts as a foundation for developers to build adaptive and high-quality applications across all sectors. The network, which is well-funded, has excellent speeds of more than 10,000 transactions per second.
Aptos has gained a lot of traction in the past few months. A good way to look at it is to consider the volume of assets that have been locked in the ecosystem. Data compiled by DeFi Llama shows that Aptos has a total value locked (TVL) of more than $75 million.
The number of apps in its ecosystem has been on a steady growth in the past few months. According to DeFi Llama, the number of DeFi apps in its ecosystem have grown to 16. It has a total value locked (TVL) of more than $75.65 million, making it one of the biggest players in the industry.
PancakeSwap is the biggest app in its ecosystem with a TVL of over $34 million. This is notable because the DeFi platform moved to the network just a few months ago. Other large players in Aptos are Tortuga, AUX Exchange, LiquidSwap, and Ditto among others.
Aptos is also becoming a major player in the NFT space. While its scale is not the size of chains like Ethereum and Solana, it is gaining traction in the industry. Some of the most popular Aptos NFT collections are Aptos Undead, Aptos Ant Club, and Aptoads among others.
Aptos price prediction
While Aptos price is soaring, a key challenge is that most of tokens are held by insiders. In its document, Aptos noted that 13.48% and 16.50% of all tokens went to investors and the Foundation. The community only received 51% of the total tokens. Still, this is a common situation among most blockchains.
The four-hour chart shows that the Aptos price has been in a strong bullish trend in the past few days. In this period, APT has moved above all moving averages. It has also risen above the key resistance levels at $8.85 and $14.60, which were the highest levels on 15th January and January 2022.
Aptos price has moved above all moving averages. Therefore, the coin will likely have a bearish breakout in the coming days. If this happens, the next key support level to watch will be at $14.60.
Bitcoin price has been hovering above its highest level since June 2022 over the past few hours. The largest cryptocurrency by market cap has jumped by 28.30% in the past week, while its year-to-date price inches higher to 70.63%. Bitcoin’s total market cap has increased by 4.77% over the last 24 hours to $547.7 billion, while the total volume of the coin traded rose by 50%.
BTC Skyrockets
Bitcoin price was rallying on Monday as most altcoins slumped, led by the largest altcoin by market cap, Ethereum. The global crypto market cap has increased 2.49% over the last day to $1.18 trillion, while the total crypto market volume jumped 34.88%. Bitcoin’s dominance inched 0.98% over the past 24 hours to 46.34%, its highest level since June 2022.
The recent global banking crisis in which three major banks in the US were closed within days has pushed the BTC price higher. Silvergate Capital, Signature Bank, and Silicon Valley Bank recently disclosed operational difficulties, prompting regulators to shut them down.
Switzerland’s largest banking institution, UBS, announced on Sunday that it had entered a merger deal with its embattled rival Credit Suisse. UBS announced that it would buy its rival for $3.25 billion, with Swiss regulators playing a key role in the ideal. According to the Swiss National Bank, the merger will secure financial stability and protect the Swiss economy.
Bitcoin reacted positively to the news, cruising…
Solana price joined in on the recent rally in the global cryptocurrency market, jumping nearly 17% in the past week. Solana has made substantial gains this year, climbing 102% in its year-to-date price. SOL ranks as the 11th largest cryptocurrency after Binance USD and ahead of Polkadot. Despite the altcoin’s recent rally, the total volume of the coin traded has continued to dwindle.
Fundamentals
Solana price was trading slightly higher on Friday as Bitcoin and other altcoins extended their rally despite the bank contagion fears weighing on the markets. Bitcoin and Ethereum have been leading the recent rally in the market, jumping more than 30% and 20% in the past week, respectively.
Investors have welcomed the resilient crypto prices amid the recent crisis in the banking sector this week. The week started with the collapse of Signature Bank and Silicon Valley Bank on Sunday until the focus shifted to Credit Suisse and First Republic Bank. Traders have been digesting the fate of Credit Suisse even after the bank said that it would borrow up to 50 billion Swiss Francs from the Swiss National Bank.
Several analysts have linked the recent rally in the crypto market to lingering bank worries. Even so, crypto prices are heavily influenced by inflation and the Federal Reserve interest rate hikes. According to analysts, the recent decline in banking stocks points to the vulnerability of traditional institutions, raising liquidity concerns…
Bitcoin price has been on a 4-day consecutive rally, jumping more than 29% since Friday when Silicon Valley Bank collapsed. Despite the tough year so far, BTC has been among the best-performing cryptocurrencies, jumping 57% in the year to date. At the time of writing, Bitcoin was trading 7% higher at $25,820.
BTC is Outperforming
Bitcoin price has been rallying in its recent trading sessions despite the collapse of the Silicon Valley Bank last week on Friday. The coin’s recent rally has been largely boosted by the current bullish momentum in the markets. Bitcoin’s coin market cap has increased by more than 7% in the past 24 hours, while the total volume of the coin traded slipped 8%.
Data by Coinmarketcap shows that the global crypto market cap has increased further by 5.19% to $1.13 trillion, while the total crypto market volume has decreased by 15.96% over the same period. Bitcoin’s dominance has increased by 0.83% over the last day to 44.24%.
The rally in the crypto market has been intricately linked to the recent US Consumer Price Index (CPI) data. The Bureau of Labor Statistics (BLS) reported a 0.4% increase in inflation in February from January, matching consensus estimates by analysts.
The CPI reading declined to 6% year on year, down from 6.4% in January, in line with market expectations. The core CPI, which excludes volatile food and energy prices, came in at…
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