As an analyst with over two decades of experience in the financial markets, I have seen my fair share of market volatility and trends. However, the current performance of Aptos (APT) is truly intriguing. In a bearish crypto market where billions have been wiped off, Aptos stands out as the most profitable coin among the top 50 digital currencies by market cap.
Amid significant losses in the crypto market recently, Aptos (APT) stands out as it diverges from the overall trend. Currently, Aptos is the most profitable coin among the top 50 digital currencies by market capitalization, having surged by approximately 12.5% over the past day.
3 Aptos catalysts
Due to its current growth trend, the value of the altcoin reached $8.93, effectively recovering the losses experienced during the last week. An increase in trading activity serves as one significant factor contributing to Aptos’s recent surge.
According to CoinMarketCap’s latest figures, this asset’s trade value has surged by an impressive 62% to reach approximately $550 million, placing it as the 17th most actively traded asset in the market. This significant increase in trading activity suggests a growing optimism towards Aptos, which is reflected in its price growth. Consequently, the token’s value now outperforms Solana and its competitors, making it more lucrative for investors.
Additionally, the Aptos network is experiencing significant growth and activity across all areas, according to data from AptoScan. Specifically, Aptos set a new monthly record for network speed on October 3, as the number of transactions per second (TPS) reached an impressive 1,051. This surge in activity serves as a testament to the faith investors have in its advanced technology, which positions it favorably against its main competitors.
Thirdly, there’s been a more optimistic pattern in Aptos’ price movement over the last month. Unlike many other cryptocurrencies, which have declined this month, Aptos has surged by 17.5%. This upward trajectory is appealing to investors who anticipate it will persist.
Altcoin recovery trends
Despite Aptos being an exception in the market right now, other digital currencies are also experiencing recovery phases. For example, Dogecoin has experienced significant accumulation by large investors (whales) within the last 24 hours, as they purchased approximately one billion DOGE. This action has positioned the price trend towards a bullish direction.
Despite critics like Peter Schiff warning of a bear market, other altcoins like XRP, Shiba Inu (SHIB) and Solana (SOL) are also making headway overall.
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2024-10-04 14:22