Aptos Beats Bitcoin, Ethereum: Up 420% In 2023

Lavina Daryanani
Source: Asia Crypto Today

This year has been quite fruitful for investors from the RoI perspective. Instead of getting euphoric and cashing out, it seems like a majority of participants have chosen to stay back. At press time on Friday, the global cryptocurrency market cap stood exactly at $1 trillion, unchanged over the past 24 hours.

While the likes of Bitcoin and Ethereum rallied by roughly 40% each since the beginning of the year, the 26th-ranked cryptocurrency fetched its investors with 10x higher returns. From the beginning of the year, Aptos has rallied by roughly 420%.

Source: TradingView

Also Read: Ethereum Drops 9% Against Bitcoin: Are Altcoins Suffering?

Recently, the Aptos token was integrated into Atomic Wallet, a non-custodial multi-chain crypto wallet. Alongside, the interest in Aptos-based NFT collections has also been improving. These factors, along with the macro bullishness, rubbed off positively on the token’s valuation.

On the development activity front, Aptos managed to position itself in the top 10. As illustrated below, it currently stands in the same list that also features Ethereum, Cardano, Chainlink, Polkadot, and Decentraland.

Gauging the sentiment, directional bias

With over 170.64 million engagements on the social front, Aptos occupied the third spot. Data from LunarCrush revealed that only Bitcoin and Ethereum were ranking higher. With only 124 million engagements, Solana stood two steps lower than Aptos.

At press time, traders seemed to be divided. On exchanges like Binance, Bitget, Bybit, and Gate, the funding rate was mildly negative, indicating that the majority of traders on these exchanges believe that a correction is due for Aptos. However, on other exchanges like OKX, Huobi, and Bitmex, the number was positive, hinting that most traders here are expecting the rally to continue.

At press time, Aptos was trading at $17.59, down by 1.5% on the hourly.

Source: CoinGlass

Also Read: Is a “Bigger Breakout” Looming for Bitcoin, Ethereum?