Aptos (APT) Decouples From Crypto Market Downtrend, Here Are 3 Catalysts Behind the 12.5% Surge

With billions wiped off the crypto market over the past few days, decoupling from the general trend is setting Aptos (APT) apart. Today, Aptos is the most profitable

Aptos (APT) Surges 12.5%, Outperforming Top 50 Cryptos Amid Market Downtrend

As the broader crypto market continues to trend downwards, losing over $70 billion in the past few days, one digital currency is decoupling from the bearish market. Aptos (APT) has surged by 12.5% in the past 24 hours, outperforming the top 50 cryptos by market cap.

Despite the market downturn, Aptos has seen its price rise from $8.03 on Oct. 3 to a high of $8.93 on Oct. 4, largely paring off the losses accrued over the past week. Notably, Aptos is now the most profitable out of the top 50 digital currencies by market cap.

3 Aptos Catalysts Boosting Surprising Rally

The surge in Aptos price can be attributed to several key catalysts.

Firstly, trading volume has surged for the altcoin. According to data from CoinMarketCap, the 24-hour trading volume for Aptos has jumped by 62% to reach $550,398,876. This boost in trading volume ranks Aptos as the 17th most traded asset on the market.

The surge in trading volume is a sign of growing positive sentiment around Aptos, which has contributed to the price growth, outperforming Solana and its rivals.

Secondly, the Aptos network has seen intense positive activity overall. According to data from AptoScan, Aptos network speeds reached a monthly high on Oct. 3 as user transactions per second (TPS) soared to 1,051.

This bump in network speeds marks a vote of confidence in the technology, which could help it compete with its core rivals.

Thirdly, the price of Aptos has presented a more positive trend over the past month. While most altcoins are down month-to-date, Aptos has jumped by 17.5%. This trend is attractive to investors, who project this trend to continue.

Altcoin Recovery Trends

While Aptos remains an outlier on the market, other digital currencies are also making rebound moves.

Dogecoin, for instance, has seen intense whale acquisition in the past 24 hours, as whales scooped up one billion DOGE to set the price on a bullish path.

Despite critics like Peter Schiff warning of a bear market, other altcoins like XRP, Shiba Inu (SHIB), and Solana (SOL) are also making headway overall.

The above is the detailed content of Aptos (APT) Decouples From Crypto Market Downtrend, Here Are 3 Catalysts Behind the 12.5% Surge. For more information, please follow other related articles on the PHP Chinese website!