Home / Supply Chain News /Biggest Movers: MATIC Nears 3-Month High, As LINK Extends Recent Gains

Biggest Movers: MATIC Nears 3-Month High, As LINK Extends Recent Gains

27 Jan 2023

During the past 30 days, the layer one blockchain asset aptos (APT) has risen 391.8% against the U.S. dollar. In the past seven days, Aptos has increased 123.7% after reaching an all-time high of $19.92 per unit on Jan. 26, 2023.

A relatively new cryptocurrency, aptos (APT), reached an all-time high on Thursday when the token hit $19.92 per coin. Aptos, which launched in mid-Oct. 2022, was created by two developers who previously worked on Meta’s Diem project before it was discontinued. The project is also supported by several venture capital firms including Parafi, Andreessen Horowitz, and Multicoin Capital.

When the mainnet went live and aptos (APT) started trading, the price increased about 20%. However, like the rest of the cryptocurrency market during the last two months of 2022, the value of aptos dropped. On Dec. 29, 2022, aptos reached an all-time low of $3.08 per coin. As of Jan. 27, however, the value of APT is 474% higher. Today, aptos’ value is around 11% lower than its all-time high of $19.92 per coin, and in the past 24 hours, APT reached a low of $17.37 per unit.

Crypto Asset Aptos Soars to All-Time High, Increasing 391% in 30 Days

Currently, APT is the 28th largest cryptocurrency in terms of market capitalization out of the entire $1 trillion cryptocurrency market. On Friday, aptos had an overall market capitalization of around $2.83 billion. At the time of writing, aptos has a circulating supply of around 160.54 million APT tokens and in the last 24 hours, the token has seen $813 million in global trading volume. While some traders attempted to short the market during the climb in value, many were ultimately unsuccessful.

“I got completely wiped out,” one trader wrote on Wednesday. “I never short, today I decided to do it and I lost everything. I committed to my APT short and got destroyed. I’m left with nothing, even my bags I sold trying to save that f***ing short. It hurts, I’ve never lost so much in my entire life,” the trader added.

The recent surge in aptos (APT) is being attributed to its deployment by the leading decentralized exchange Pancakeswap. Aptos’ total value locked (TVL) in decentralized finance (defi) has climbed rapidly in recent weeks, with Pancakeswap accounting for 57.62%.

The price rise is also being credited to the blockchain’s issuance of non-fungible tokens (NFTs) and NFT projects like Aptos Land Genesis, Aptos Monkeys, Babyapetos, and Aptopunks. Aptos-based NFTs are seeing significant trading activity on the NFT marketplace topaz.so. Furthermore, APT has also been recently integrated with Atomic Wallet, a defi Web3 wallet with more than 5 million users.

What do you think is driving the recent surge in aptos (APT) and do you think it has the potential to continue its upward trend? Let us know your thoughts in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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During the past 30 days, the layer one blockchain asset aptos (APT) has risen 391.8% against the U.S. dollar. In the past seven days, Aptos has increased 123.7% after reaching an all-time high of $19.92 per unit on Jan. 26, 2023.

A relatively new cryptocurrency, aptos (APT), reached an all-time high on Thursday when the token hit $19.92 per coin. Aptos, which launched in mid-Oct. 2022, was created by two developers who previously worked on Meta’s Diem project before it was discontinued. The project is also supported by several venture capital firms including Parafi, Andreessen Horowitz, and Multicoin Capital.

When the mainnet went live and aptos (APT) started trading, the price increased about 20%. However, like the rest of the cryptocurrency market during the last two months of 2022, the value of aptos dropped. On Dec. 29, 2022, aptos reached an all-time low of $3.08 per coin. As of Jan. 27, however, the value of APT is 474% higher. Today, aptos’ value is around 11% lower than its all-time high of $19.92 per coin, and in the past 24 hours, APT reached a low of $17.37 per unit.

Crypto Asset Aptos Soars to All-Time High, Increasing 391% in 30 Days

Currently, APT is the 28th largest cryptocurrency in terms of market capitalization out of the entire $1 trillion cryptocurrency market. On Friday, aptos had an overall market capitalization of around $2.83 billion. At the time of writing, aptos has a circulating supply of around 160.54 million APT tokens and in the last 24 hours, the token has seen $813 million in global trading volume. While some traders attempted to short the market during the climb in value, many were ultimately unsuccessful.

“I got completely wiped out,” one trader wrote on Wednesday. “I never short, today I decided to do it and I lost everything. I committed to my APT short and got destroyed. I’m left with nothing, even my bags I sold trying to save that f***ing short. It hurts, I’ve never lost so much in my entire life,” the trader added.

The recent surge in aptos (APT) is being attributed to its deployment by the leading decentralized exchange Pancakeswap. Aptos’ total value locked (TVL) in decentralized finance (defi) has climbed rapidly in recent weeks, with Pancakeswap accounting for 57.62%.

The price rise is also being credited to the blockchain’s issuance of non-fungible tokens (NFTs) and NFT projects like Aptos Land Genesis, Aptos Monkeys, Babyapetos, and Aptopunks. Aptos-based NFTs are seeing significant trading activity on the NFT marketplace topaz.so. Furthermore, APT has also been recently integrated with Atomic Wallet, a defi Web3 wallet with more than 5 million users.

What do you think is driving the recent surge in aptos (APT) and do you think it has the potential to continue its upward trend? Let us know your thoughts in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.

Polygon rose to its highest level since early November on Friday, as markets reacted to the latest U.S. consumer sentiment data. Sentiment rose to 64.9 in January, up from a reading of 59.7 in December. Chainlink also surged in today’s session, hitting its strongest point in nearly two months.

Polygon (MATIC) was a big gainer on Friday, as prices rose to their highest point in 11 weeks.

Following a low of $1.07 on Thursday, MATIC/USD raced to an intraday peak of $1.15 earlier today.

As a result of this, polygon moved to its strongest point since November 11, which is the last time prices were trading at this point of resistance.

Looking at the chart, the surge took place when the 14-day relative strength index (RSI) broke out of a ceiling at 69.00.

As of writing, the index is tracking at 72.14, and appears to be en route to a ceiling at the 77.00 mark.

Should this occur, there is a strong possibility that MATIC will be trading above the $1.20 mark.

Another notable mover on Friday was chainlink (LINK), which also surged to a multi-month high.

LINK/USD jumped to a high of $7.33 earlier in the day, which comes less than a day after falling to a low of $6.93.

This rally in price pushed chainlink to its highest point since December 5, breaking it out of a price ceiling in the process.

As can be seen from the chart, LINK climbed past its resistance level of $7.25, however the RSI was unable to also achieve this feat.

Price strength is currently at a reading of 64.15, which is marginally below a ceiling at 65.00.

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Tags in this story
Analysis, Chainlink, LiNK, matic, Polygon

Do you expect chainlink to move towards $7.50 this weekend? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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