Crypto market news live: Why Aptos is soaring 61.1 per cent this week as Bitcoin price is up 9.3 per cent
Aptos is riding high this week, with record 61.1 per cent growth that has filled investors with confidence in the ‘Solana-killer’.
The newly released token and blockchain, developed by the same team behind Meta’s abandoned cryptocurrency project Diem, was built to enable ease-of-use, widespread adoption and scalability with its proprietary programming language called Move.
Consequently, Aptos technology has garnered the support of NFT-based games like Crypto Kitties, as well as leading crypto exchanges and crypto wallets.
Its meteoric rise was triggered on 6 January when crypto exchange PancakeSwap announced its rollout on the Aptos Blockchain.
This was followed shortly after by the confirmation that crypto wallet Atomic Wallet was supporting the platform in a move that would reinforce its growth and inspire confidence.
It comes as the currency of blockchain-based video game Axie Infinity suffers a sharp dip of 9.2 per cent in the last 24 hours, sparked by a recent growth in supply that outmatched demand.
While still beating its start-of-year value, the token is showing worrying signs of decline, with an almost 60 per cent drop in trading volume over the last 24 hours.
Meanwhile, Bitcoin prices have seen a positive 24 hours, as it once again clears the $23,000 (£18535.70) mark, a milestone that, prior to the last seven days, it had not managed since October last year.
Overall, the leading cryptocurrency is up 9.3 per cent compared to seven days ago.