The year 2023 is off to a fantastic start for the crypto industry. We cannot yet speak of the start of a new bull market, but the foundation has been laid. Bitcoin (BTC) is already up 35 percent this year, but aptos (APT) is booming.
Aptos crypto on the rise
Aptos (APT) has already risen by 250 percent since the turn of the year. In total, the market capitalization of the project exceeds a respectable $ 2 billion. With that value, aptos is now around 30th place in the top 100 largest cryptocurrencies. Once all APT tokens are in circulation and the project manages to maintain the same price value, it would even have a valuation of USD 14 billion.
Where aptos was still a low of $ 3 per token in November, the APT price reached one last night all time high from $14.5. The price has now dropped to $13.
The increase was mainly due to the huge demand in the spot market, because the derivatives market for APT is not that big at the moment. It seems that the NFT market in particular is driving the price increase of aptos. The popular Topaz NFT marketplace has achieved impressive volumes over the past few days. In that respect, the demand for NFTs also seems to be slowly picking up again.
NFTs popular on Aptos
Some traders on Twitter expect interest in NFTs on Aptos to only increase in the coming days. Buying and selling NFTs has been extremely popular lately on the Aptos blockchain platform.
You’re about to see a bunch of Aptos NFTs flood the market over the next few days/weeks imo.
Where there’s a massive pump, there’s [sudden] massive interest and innovation.
It’s all genuine and we’re all here for the uhhh tech.
— Loma (@LomahCrypto) January 22, 2023
It mainnet of Aptos only launched in October of last year. At the time, the project faced considerable criticism over the initial distribution of the tokens. According to the community, too many tokens had been made available to investors and the Aptos Foundation. In total, both received about half of the tokens.
The fear was that they could potentially liquidate those tokens and then blow the entire market over with it. So far the project is going great though, as the year 2023 has started off great for Aptos. With a 250 percent increase in just a few two weeks, there are few tokens that can match Aptos this year.