In the last quarter, the crypto market became more stable, and the prices of many coins went up. Since the beginning of 2023, Bitcoin, in particular, has made tremendous gains. It has risen by more than 38% and is now trading above $22,500 for the first time in two months.
Along with Bitcoin, there have been a lot of successful altcoins on the market, and some of them have done really amazing things. CoinMarketCap says that Aptos (APT), one of the first blockchain projects, is up 54.73% from the day before.
Since its start in 2023, APT has been one of the best performers. For example, it went up by 248% in January. As a new coin, it has done better than many others in many areas. But in terms of market share, Ethereum (ETH), Solana (SOL), Ripple (XRP), and Bitcoin (BTC) are close behind.
The price went up because Binance, the biggest cryptocurrency exchange, made a prominent announcement on January 20. The notice said that the fee for adding a new project to the list would go from 1% to 3%. The exchange announced that Aptos (APT/BTC and APT/USDT) are now part of the Liquid Swap service.
The Binance liquidity farming liquidity pool was set up with the help of the automatic market maker strategy. It works the same way as other DeFi swaps because it is made up of different liquidity pools. Each pool has two digital tokens that can be traded.
Binance said they are opening new liquidity pools that will serve different markets. The result was a significant rise in trading volume, and both the APT/BTC and APT/USDT pairs saw a considerable surge in trading activity.
Aptos could do well in the DeFi space. That much is clear. Binance talked about how they want to compete directly in the market and how they will put pressure on former leaders like Solana.
Aptos is getting better after the market crash and is now at a new high point. The rally shows that traders are becoming more aware of and interested in cryptocurrency. It will be interesting to experience what happens in the next few days and weeks.
02 Feb 2023
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