Aptos price has within a short period proved to be one of the best layer 1 protocols to invest in this year. In addition to achieving a new all-time high, APT is now 415% more valuable than its all-time low of $30.08. Investors have been treated to a bullish party with gains exceeding 21% in 24 hours, 104% in seven days, and a whopping 338% in 30 days.
The latest price pump can be attributed to FOMO, as investors rush to join the buying party. CoinMarketCap reveals a spike in trading volume by 84% to $1.6 million, implying that accumulation is high among investors.
Aptos Price Gives Solana A Run For Its Money, Find Out Why?
Aptos is a relatively new layer 1 blockchain that has quickly come to be referred to as the “Solana-killer.” This project launched in October and its success stems from the many innovative features the project offers to developers in the industry.
The vibrant community has also been at the center of the meteoric rise in Aptos price, but more importantly as mentioned, the protocol is known for its many unique features. The Aptos blockchain was built using a new programming language referred to as Move.
Move was the language behind Meta’s Diem platform that hoped to connect billions of people. The Aptos team took up the abandoned language to carry on with the vision Meta had for Diem to create a scalable and fast blockchain that can integrate with other platforms for mass adoption and usage.
Renowned developers have been joining the Aptos ecosystem, starting with the developer behind the popular Ethereum-based nonfungible token (NFT) and gaming platform, CryptoKitties. In collaboration with the Aptos team, the developers implemented a project called Jolteon via the Flow blockchain.
Aptos CEO Mo Shaikh Looks Forward To A great 2023
Mo Shaikh, Aptos CEO and co-founder recently said that he is looking forward to a great year with the network focusing on decentralized finance (DeFi) initiatives. The team is working on various projects including a parallel transactions processing mechanism to be used by decentralized exchanges (DEXs). The idea is to spread the protocol’s wings to all the areas of the DeFi sector – to complete with established chains like Ethereum and Solana.
The Aptos blockchain is set to host PancakeSwap, the biggest DEX in the market, currently hosted on BNB Chain following an announcement made on January 6. PancakeSwap said the decision was arrived at following overwhelming requests from the community.
Aptos is also expected to debut on Atomic Wallet, one of the leading crypto wallets globally. It boasts 3 million followers, which means APT is heading for more exposure.
Aptos Price Update
Aptos price is trading at $15.85 at the time of writing and is likely to have exhausted its intraday bullish potential. The Money Flow Index (MFI) is at its highest level ever (90.38) which implies that more money continues to flow into APT markets.
However, the Stochastic oscillator finds Aptos price to be extremely oversold, although it has sustained its position above 80.00 since the beginning of the year. Therefore, it may not be cause for worry, especially with investors still dealing with FOMO.
However, a healthy retracement to $14.00 would not be a bad idea, instead, it may allow more sidelined investors to buy into the rallying market. If investors book profits in huge numbers, Aptos might retrace to test support at $12.00 before resuming the uptrend.
The uptrend in Aptos price may take a temporary hold but it is bound to resume and propel the token to new record highs. With the developments the Aptos team would be rolling out in 2023, this rally in January could be the beginning of a remarkable bull market.
Should You Invest In Aptos Today?
Before investors buy Aptos after its splendid rally, they might want to consider these coins offering a better risk-reward ratio.
Meta Masters Guild (MEMAG) is a new play-and-earn cryptocurrency going through its presale stages ahead of its initial debut on exchanges. The team behind this token is building the first mobile-focused Web3 gaming platform that will reward users for playing games they actually like. Meta Masters Guild’s third presale stage is selling out fast having raised $1.345 million so far.
Fight Out (FGHT) is a token that is piquing the interest of move-to-earn (M2E) enthusiasts. The platform is using Web3 solutions to remove the barriers to entry associated with existing M2E platforms like STEPN. FightOut presale is about to exit its first round with $3.40 million raised. Investors can take advantage of a 50% bonus, although limited to purchases made until the $5 million threshold set by the team.
C+Charge (CCGH), on the other hand, is a crypto project aiming to open the carbon credit industry to EV drivers globally. When users pay for charging using CCHG, they will earn carbon credits, stored in a mobile application. C+Charge believes that it is the first off and on-chain platform working toward the standardization of EV charging requirements. CCHG’s presale has brought in $381k, far ahead of its first listing on exchanges.
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