Aptos (APT) Token Outperforms the Broader Market With 400% Gains In A Month

Since the beginning of 2023, the cryptocurrency market investors have been cheering with a strong rally led by Bitcoin as well as the altcoin space. However, one cryptocurrency that’s caught everyone’s attention is Aptos’ native token APT.

On Wednesday, January 25, the Aptos (APT) token price surged by a staggering 40% hitting its new all-time high of $19.9. Aptos is now among the top 25 cryptocurrencies with a market cap of $2.9 billion.

Since the beginning of this month, the APT token price has surged by a staggering 400% as the price mutiplies by 4x. Since its launch in October 2022, Aptos has seen a huge investor interest and delivered strong performance despite the negative market sentiment.

Aptos is a Layer-1 blockchain network developed by former Meta employees. The recent price rally in Aptos (APT) token comes amid the strong whale movement over the last two weeks.

Furthermore, the numbers of bids for APT token on crypto exchange Coinbase has shot up significantly which could mean a strong institutional demand for the altcoin.

Besides, another report from Binance Research stated that the interest in Aptos NFTs is increasing considering the fact that the collections within the ecosystem saw their sales and floor price reach new highs.

In its report, Binance Research noted: “NFT investors [have] start[ed] accumulating them to become early adopters and take advantage of potential flipping opportunities.”

Aptos’ largest NFT marketplace Topaz has also confirmed this statement adding that three of their five collections have seen the sales volume increase by a staggering 600% respectively. The other two collections rose by more than 100%.

Along with Aptos, other altcoins like dYdX and Litecoin have also shown strong jump in the last 24 hours.