APT Rallies 20% as Aptos Celebrates 2nd Anniversary

• The native token APT of the Aptos blockchain surged over 20% in a single day, reaching a peak of $11.18.
• This Layer 1 blockchain platform is attracting considerable interest as it approaches its second anniversary, celebrated last Friday.

Aptos (APT) has recently climbed back to a price that it had lost since April. After hitting a one-year low in August, the token has been on a steady rise, reaching a high of $11.18 this Tuesday.

Aptos (APT) Price Performance

In the last 24 hours, Aptos’ price soared over 20%, fluctuating between a low of $9.83 and a high of $11.18. As of 9:00 AM UTC today, it remains nearly 10% higher than its price at the same time yesterday, which was $11.08.

The recent price surge appears to have been fueled by strong investor interest. Trading volume for the digital asset increased by 119%, with over $453.75 million worth of tokens traded across various crypto exchanges and DeFi wallet addresses. Additionally, the rising price boosted the market cap of its circulating supply of 1.12 billion to $5.71 billion.

Over extended periods, Aptos has demonstrated substantial growth as well. Its valuation has improved by approximately 6% over the past week, 40% over the past month, and an impressive 85% over the past year. However, it still sits about 44% below its all-time high of $19.90 achieved two years ago.

Reason for the Rally

Despite Bitcoin’s (BTC) dip to $66K today after nearly breaking the $70K mark yesterday, Aptos has defied the market trend with its upward movement toward its highest value since April.

The surge in demand for the token was spurred by the celebration of Aptos’ second anniversary in the Web3 sector. On October 18, the independent layer 1 blockchain platform commemorated this milestone in a social media announcement.

Aptos reported having 27.7 million active addresses since inception and processing a total of 1.7 billion transactions, including a peak of 13,367 transactions per second, all while hosting more than 250 projects on the platform.

Currently, Aptos operates with 149 validator nodes across 22 countries, has committed $150 million in total grant funding, and awarded over 165 grants.

In its third year, Aptos aims to sustain its momentum towards “driving the next trillion-dollar economy.” The focus is on delivering services that enable fast, affordable, and dependable payments globally.

Additionally, it plans to leverage its Tether and USDY integrations to potentially onboard an extra five billion Internet users into the realm of digital finance between 2024 and 2025.