Aptos (APT) Did it 5x in One Month! What’s the Cause of Ascension?

APT, the native token of the recently popular cryptocurrency project Aptos, has delighted its investors by quintupling in value in just one month.

In this article, we will examine what Aptos is, the main reasons for the rise, and technical data, respectively.

What is Aptos (APT)?

Meta’s Diem blockchain The developers, who left the company after stopping the project, regrouped and formed Aptos. aptosis a blockchain network using the Move software language. By combining the PoS system with this new software language, the developers aim to create a blockchain with faster, safer and cheaper transfer fees.

Now that we have briefly summarized Aptos, we can go through the root causes of the rise of APT.

PancakeSwap – Aptos Relationship

An offer recently made available on the network, the largest DeFi revealed the close relationship between one of their projects, PancakeSwap. Per the proposal, PancakeSwap will prioritize new Aptos-based crypto projects on the platform to gain an edge over market competition.

According to on-chain data, more than half of the tokens locked in the Aptos network are in PancakeSwap.

NFT Sales Are Increasing!

As the Aptos project became popular, it was built on NFT initiatives are on the rise. The volume of the collections traded on Topaz, the marketplace operating on APT, increased 3-4 times.

APT Price

Breaking the $14.97 resistance in the past hours APT stopped the rise today.

$APT With a daily depreciation of 1%, it instantly finds buyers at $ 17.85. APT may test the old resistance-new support figure of $14.97 unless there is a new attack on the upside.