The crypto currency market has exhibited an unusually optimistic trend since 2023 start. During the past half month, the prices of several assets have increased, including Bitcoin, which has seen its value rise by 37% and is now trading at over $22,500 for the first time in nearly months.
Altcoins have emerged as the true stars of the segment, with many bringing off a remarkable market performance, and although it is an outstanding achievement, altcoins have emerged as the big stars of the market.
According to the statistics provided by CoinMarketCap (1), Aptos (APT), one of the top performing coins in last week, with a gain of 93% during this time.
With a price increase of more than 340% since the beginning of the year, APT has emerged as one of the coins with the most remarkable performance in 2023. Even though it is a relatively new token, its price increase in 2023 is expected to outperform that of numerous market titans, including Ethereum (ETH), Solana (SOL), Ripple (XRP), and of course – Bitcoin (BTC).
Aptos (APT) is now trading for $13.85 on the market as of this writing.
What is Fueling this Exponential Growth?
Aptos was one of the latest projects to be introduced into the crypto currency world when it was released on October 19, 2022. On October 23, the value of one APT token in ATH was determined to be $10.25. Despite this, APT began trading at $3.43 at year start due to the FTX crisis in November.
The significant increase in the price of APT can be ascribed to various variables, and one of these factors is the expanding support from various crypto currency initiatives. After receiving authorization from its user community, the crypto currency exchange known as PancakeSwap announced (2) on January 6 that it would be deployed on the Aptos blockchain.
The price of APT shot up by 97.6% in the week that followed this statement, which marked the beginning of APT's price boom in 2023. During this time, Atomic Wallet, considered one of the best cold crypto wallets with more than 3 million users, announced that they would begin supporting APT immediately.
The ongoing hype generated about the APT project due to its roots in the long-defunct Meta Diem blockchain program is another element that has contributed to the tremendous price increase that APT has seen.
Many investors view Aptos as a blockchain that has a huge chance of becoming a major contender to Ethereum, Solana, or other smart contract-compatible platforms because it is crafted with many fascinating features, such as its one-of-a-kind programming language, Move.
What Kind of Things Can We Anticipate From Aptos In 2023?
In 2023, the Aptos blockchain will be an important one to watch. The developer team will emphasize the introduction of demand-driven gas charges, as indicated by the roadmap (1) for the project. This will be done to significantly lower the gas fees now being charged on the network.
It is anticipated that a successful update of this kind might benefit an APT token that is soaring high in the skies. However, it should go without saying that this is nothing more than conjecture and should not be used as a basis for making investment choices.