According to CoinGecko, no cryptocurrency or token has increased more during the previous week than Aptos.
The native token of the Aptos blockchain, APT, has increased in value by almost twofold over the last week and by 46% just the other day, reaching as high as $20.4. Aptos’ growth since the beginning of the year has been 350%. Why?
It’s tough to pinpoint a specific cause, but data from CoinGecko’s UpBit exchange in Singapore indicates that the South Korean won trading pair accounted for roughly half of the $2 billion in APT traffic in the previous day. APT was listed on UpBit for $18.63 at the time of writing.
The fact that it is selling for almost $0.50 more than that on Binance and most other exchanges suggests that at least some of the activity is the result of arbitrage deals. Arbitrage traders, to put it simply, profit on price differences. They sell for the highest price they can obtain and buy at the lowest price that is offered.
The price differential between South Korean exchanges’ listings of cryptocurrency assets and those of their international competitors, known as the “Kimchi premium,” is so regular. The Seoul Central District Prosecutor’s Office just started an inquiry into unlawful remittances worth 2 billion Korean won that arbitrage traders used to take advantage of it last year.
It’s also important to note that despite just being the 20th-largest DeFi ecosystem overall, Aptos has experienced tremendous growth over the previous month. Despite the fact that January hasn’t even ended, the DeFi volume on Aptos increased from $14 million in December to $51 million this month.
The trading pair between APT and Binance USD (BUSD) on Binance accounted for an additional 10% of the APT volume over the previous day. Two APT liquidity pools, which currently make up another 18% of APT’s trading activity, were recently added by Binance, the largest cryptocurrency exchange in the world by volume.
Cryptocurrency peer-to-peer trading is supported by liquidity pools. In order for their tokens to be exchanged with other users, individuals are encouraged to “pool,” or deposit, their tokens. They are necessary for the operation of decentralized exchanges like Uniswap and Curve. But they are also used by centralized exchanges like Binance.
The APT/Tether and APT/Bitcoin liquidity pools on the Binance Liquid Swap platform made their debuts on January 20. For contributing money to the pools, the network pays users with BNB, the utility token for the exchange.
Binance is guaranteeing a 92.42% yield on APT/USDT and a 99.49% yield on APT/BTC liquidity pool deposits as of the time of writing. Users would receive 0.71% and 1.07% BNB incentives out of it, paid every hour, accordingly.
Since the beginning of the year, Aptos has regularly outpaced the market. It did, however, have a rocky beginning when its mainnet opened in October.
The project faced a lot of criticism for delaying the release of its tokenomics. When the blockchain, which had claimed speeds of up to 150,000 transactions per second, revealed rates of only 4 transactions per second following its major debut, the criticism increased.
Mo Shaikh, a co-founder of Aptos, stated on Twitter at the time that it was an indication that
the network was idling ahead of projects coming up.
Many of the VC firms that have established themselves as industry leaders have backed Aptos, including Andreesen Horowitz, Multicoin Capital, Jump Crypto, Tiger Global Management, Blocktower Capital, and Coinbase Ventures. Additionally, the initiative closed a $150 million Series A round and a $200 million strategic round prior to its launch.
Two businesses on that list—the venture arm of Sam Bankman-Fried’s crypto empire, FTX Ventures, and hedge firm Three Arrows Capital—have since declared bankruptcy.
Other Altcoins that can provide major and bigger opportunities
Investors are finding that new and emerging altcoins are the simplest method to make significant gains quickly. As they build their portfolios of cryptocurrencies for 2023, investors must take into account the best crypto presales available on the market. Pre-sale tokens that have already been listed on exchanges have done particularly well, such as IMPT, which surged hundreds or percentages right after being listed.
Fight Out (FGHT)
The finest Move-to-Earn (ME) presale, Fight Out (FGHT), is selling out quickly as investors swarm to the stock. With only $3.56 millions raised so far, investors have a slim chance of obtaining FGHT coins.
The new Web3 platform called Fight Out is designed to make it easier for people to adopt healthy habits. The technology is so ground-breaking that the user’s daily workouts and activities will be recorded by the mobile application, along with the ability to tap into digital avatars for use in the metaverse.
Each user inside the ecosystem has a “soulbound” avatar that virtually reflects their achievements in terms of fitness and health in the actual world. As the first move-to-earn crypto project to access the metaverse, Fight Out will guarantee dynamic human interactions.
The user’s companion for getting “combat fit” is the mobile application, but it also performs a wide range of other tasks, such as monitoring and tracking exercise routines and programs. Fight Out distinguishes itself from other M2E platforms by operating a global chain of gyms.
Fight Out tweets: “Connect with the #FightOutCrew to achieve the highest levels of self-improvement and empowerment! Remember that every step you take toward achieving your fitness objectives is progress as you take the first one. Join the presale now to receive a bonus of up to 50%!”
Connect with the #FightOutCrew and experience the ultimate in self-empowerment and self-improvement! ?
Take the first step towards your fitness goals, and remember that every step forward is progress.
— Fight Out (@FightOut_) January 22, 2023
These gyms will have a range of amenities, including exercise centers. Every fitness center will contain a co-working area, a health bar, and a studio where professional athletes create video workouts that can be viewed on the Fight Out companion app.
Guild of Meta Masters (MEMAG)
The first gaming guild to focus specifically on mobile web3 solutions is Meta Masters Guild (MMG). The team’s goal is to create outstanding blockchain-enabled mobile games that create a decentralized gaming environment and give our users sustainable incentives for their contributions to the ecosystem.
While in-game rewards will be paid in “Gems,” all games in this new ecosystem will use a single token called the Meta Masters Guild token (MEMAG). The Gems tokens can then be redeemed or invested in various ways within the ecosystem, including staking, by players.
Two new games are anticipated by users: Raid NFT, a turn-based fighting game where players choose warrior assets and engage in combat in various harsh situations, and Kart Racers, a PVP racing game suited for mobile devices.
Players can explore a vast virtual area akin to an open-world game but with less organization in Meta Masters World, a game that caters to the metaverse.
In an ongoing presale, investors are purchasing MEMAG tokens for $0.01 each. To date, $977k has been raised. Six days remain for investors before the price rises to $0.013.
Fight Out (FGHT) – Move to Earn in the Metaverse
- CertiK audited & CoinSniper KYC Verified
- Early Stage Presale Live Now
- Earn Free Crypto & Meet Fitness Goals
- LBank Labs Project
- Partnered with Transak, Block Media
- Staking Rewards & Bonuses