On January 26, 2023, cryptocurrency apts (APTs) hit an all-time high and then lost 20% of their value over the next five days. In the last 24 hours, it has also lost 8.3% against the US dollar. Despite the drop from its all-time high, the APT is still up 349% compared to last month’s exchange rate.
Aptos hits $20 ceiling, slides 20% lower from all-time high
Aptos, a layer one (L1) blockchain created by two developers of the former Diem cryptocurrency project in Meta, saw significant growth against the US dollar last month. Six days ago, it reached an all-time high of $19.92 per unit. However, in the last 24 hours, SUITABLE it has lost 8.3% in value and is trading between $15.89 and $17.48 per coin.
Despite this decline, Aptos was one of the best-performing cryptocurrencies in January 2023 and is up more than 400% from its all-time low on December 29, 2022. Of the thousands of cryptocurrencies in the industry, it is worth a total of $1 trillion as of February 1, 2023, APT ranks 28th in terms of market capitalization.
Currently, the circulating supply of 161,361,143 APTs is valued at $2.55 billion in USD. APT global trade volume was $423.74 million in the last 24 hours. Of that volume, 57.32% was exchanged for Tether (USDT) and 18.15% was traded for the Korean Won (KRW), making the Korean Won the largest APT fiat currency pair, surpassing percentages traded for the Euro or the US dollar.
About 1.46% of all APT transactions today are exchanged against the Turkish lira. In the decentralized finance (defi) space, APT has $61.24 million Total Value Locked (TVL) in defi on Feb 1, 2023. On Wednesday, Pancakeswap dominated APT Value Locked in defi with 59.76%. The Aptos team and community members are on the “Aptos World Tour” recently completing a stop in korea
“When considering where to hold our first hackathon, there was no doubt that Seoul was our best option,” Mohammad Shaikh, co-founder and CEO of Suitable Laboratories saying in the event. According aptoscan.com statistics, the largest wallet, controlled by the Aptos Foundation, holds 52.53 million APTs, or 5.162% of the total supply. The top five APT wallets, including the largest address held by the Aptos Foundation, have 11.22% of the supply among 3,101,008 unique addresses.
What do you think about the current state of APT in the cryptocurrency market? Do you think it has the potential to recover or will it continue to fall? Let us know your thoughts in the comments section below.
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