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Aptos APT/USD tops monthly gains, up 437% to $18.77, outpacing advances by apex crypto Bitcoin BTC/USD and Ethereum ETH/USD.
What happened: APT hovered around the $3-$4 mark for the first few months of its launch, until January 9, when the price started to rise above $15. This represents a movement of 275% in two weeks.
BTC is up 37% and ETH 31.8% in the past 30 days, according to data from Benzinga Pro.
Binance Research has identified several factors contributing to Aptos’ recent price rise. First, Aptos NFTs saw an increase in both floor price and trading volume.
See more: Best Crypto Day Trading Strategies
Subsequently, on January 20, Binance opened two new liquidity pools for Aptos pairing APT with BTC and USDT. According to data from CoinMarketCap, this led to a 56% increase in the price of APT and a 147% increase in trading volume.
Last but not least, Aptos is a recently launched proof-of-stake blockchain that uses the Move programming language, which also led to its rise.
Read next: Bitcoin, Ethereum, Dogecoin Spike: Analyst Warns Apex Crypto Could Fall Back to $20,000 if Tech Selloff Spikes
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