Why has the price of $APT quadrupled in 2023? Binance Reserach explores developments and announcements from the new Aptos blockchain.
APT Goes From $4 to $16 in January
Why is the Aptos coin outperforming the crypto market so far in 2023? Binance Research dove into that question in a recent Twitter thread, discussing developments from the new layer-1 blockchain, the rise of [Non-Fungible Tokens (NFTs)]on Aptos, and new Binance liquidity pools.
According to [CoinGecko], the price of $APT has increased from below $4 at the beginning of January to more than $16 as of the time of publication, a 4x increase.
While some investors have attributed the boom in $APT to price manipulation from whales, Binance Research observes that Aptos Co-Founders Mo Shaikh and Avery Ching recently held an AMA where they announced many upcoming developments and community outreach events.
Binance Research also noted increased activity in regard to Aptos NFTs, as collectors try to get into the space early.
Also, Binance opened two new liquidity pools, pairing $APT with $BTC and $USDT.
Aptos [#NFTs] data is encouraging and illustrates these increases…
What is Aptos:
Aptos is a new, independent project focused on delivering the safest and most production-ready Layer 1 blockchain in the world. The team includes the original creators, researchers, designers, and builders of Diem, the blockchain that was first built to serve this purpose.
What is Binance Research:
Binance Research is the research arm of Binance, the world’s leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.