Aptos NFT
NFTs could be a major catalyst for coin demand. We saw this last year with SOL. News travels fast in the NFT community, so word spreads quickly that Aptos offers unique artwork, a very active market, and ultra-low commissions.
Some crypto media outlets have cited the surge in interest in Aptos NFT as one reason for the rise in APT prices. In fact, Topaz, the largest NFT market on Aptos, reported a huge spike in NFT trading volume after the APT price had already surpassed the $10 mark. Specifically, AptoPunks’ volume increased 2,500% in 24 hours, and BabyApetos’ 3,200%.
However, the opposite is more likely. The price increase got everyone talking about APT and the Aptos NFT ecosystem. New users flocked to the market, giving early collectors a chance to sell the NFTs they bought when APT was trading at $4.
With the completion of this sell-off by early investors, the level of activity was on the decline. For example, on January 25th, the daily volume of AptoPunks and BabyApetos dropped by 92% and 97% respectively.
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