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Binance Research Explores Why Aptos is Booming Right Now

by BSCN

January 25, 2023

Why has the price of $APT quadrupled in 2023? Binance Reserach explores developments and announcements from the new Aptos blockchain.

$APT Goes From $4 to $16 in January

Why is the Aptos coin outperforming the crypto market so far in 2023? Binance Research dove into that question in a recent Twitter thread, discussing developments from the new layer-1 blockchain, the rise of Non-Fungible Tokens (NFTs) on Aptos, and new Binance liquidity pools.

1/
The $APT price chart shows the coin stuck around the US$3-4 mark for the first few months of its launch, until Jan 9th when price started moving from US$4 to over US$15 where it sits now. This represents a ~275% move in around two weeks. Why?
— Binance Research (@BinanceResearch) January 25, 2023

According to CoinGecko, the price of $APT has increased from below $4 at the beginning of January to more than $16 as of the time of publication, a 4x increase.

While some investors have attributed the boom in $APT to price manipulation from whales, Binance Research observes that Aptos Co-Founders Mo Shaikh and Avery Ching recently held an AMA where they announced many upcoming developments and community outreach events.

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Mo and Avery announced significant upcoming community engagement, including the #AptosWorldTour, various conferences and developer meet-ups. They also discussed expected 2023 developments with #Aptos. To get the full picture, check out the recording: https://t.co/gomO5Kt1Of.
— Binance Research (@BinanceResearch) January 25, 2023

Binance Research also noted increased activity in regard to Aptos NFTs, as collectors try to get into the space early. (Check out the top 10 NFTs on Aptos, as reported previously by BSC News.)

Also, Binance opened two new liquidity pools, pairing $APT with $BTC and $USDT.

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Aptos #NFTs have also started to see increases in both floor price and trading volume as NFT investors start accumulating them to become early adopters and take advantage of potential flipping opportunities. @TopazMarket data is encouraging and illustrates these increases.
— Binance Research (@BinanceResearch) January 25, 2023

What is Aptos:

Aptos is a new, independent project focused on delivering the safest and most production-ready Layer 1 blockchain in the world. The team includes the original creators, researchers, designers, and builders of Diem, the blockchain that was first built to serve this purpose.

Where to find Aptos Labs:

What is Binance Research:

Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.