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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 of the top 50 digital currencies by market cap after soaring by 12.5% in the past 24 hours.
3 Aptos catalysts
With the current growth rate, the altcoin price topped $8.93, conveniently paring off the losses accrued over the past week. The boost in trading volume is one of three major catalysts fueling Aptos’s resurgence.Â
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Per CoinMarketCap data, this metric has jumped by 62% to $550,398,876, making it the 17th most traded asset on the market. This boost in trading volume is evidence of growing positive sentiment around Aptos. This has positively translated to price growth, making the token more profitable than Solana and its rivals.
Besides this, the Aptos network is seeing intense positive activity overall. Per data from AptoScan, Aptos has achieved a monthly high in network speeds as user transactions per second (TPS) soared to 1,051 on Oct. 3. This bump marks a vote of confidence in improved technology that can help it compete with its core rivals.
Third, 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.
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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.
