Aptos APT native blockchain token has been significantly outperforming the market lately. Factors driving its price dynamics analyzed by Binance exchange
On January 25, analysts at Binance Research conducted an in-depth study of the drivers behind Aptos’ epic rally. APT has risen 253% in the last two weeks, outperforming most cryptocurrencies.
Aptos fundamentals are getting stronger
Aptos has been repeatedly criticized by the cryptocurrency community in the past for being centralized, heavily venture-backed and lacking transparent tokenomics. The project’s early investors included major exchanges such as Coinbase, Binance and FTX. So it’s not surprising that many attribute APT’s boom to price manipulation by whales.
However, Binance Research believes that’s not the case at all. The company noted that the co-founders of Aptos, Mo Shaikh and Avery Ching, recently held an AMA session in which they talked about the upcoming developments. Shaikh and Ching announced increased community involvement and events, including the AptosWorldTour, in addition to various developer conferences and meetings. This event coincided with a major APT price move that started a rally on January 9th.
There was also an increase in NFT activity on the Aptos network, particularly on the Topaz marketplace.
Source: Topaz
But that’s not all. On January 20th, Binance launched a pair of liquidity pools for APT/BTC and APT/USDT, which helped the token price rise by 56%.
What’s happening with the APT price?
Over the past 24 hours, the price of APT has increased by 46.8%. This morning, it reached a new all-time high of $18.83.
But despite the impressive start, Aptos has yet to be tested by time – the only way to see if the project was worth all the hype that accompanied it.
WARNING!
The contents of this article are not to be construed as legal, business, investment, or tax advice.
This article is intended for use and should be used for informational purposes only.
