Aptos, Fantom and Hedera Lead the Crypto Bull Run: Prices Surge up to 58% on the Week

Aptos, Fantom and Hedera Lead the Crypto Bull Run: Prices Surge up to 58% on the Week

25 January 2023

APT, the token that powers the layer-1 blockchain Aptos, has been on the run since the beginning of the year, seeing its price rise by 58% in the past week alone.

This is despite APT’s recent correction of 1.5%, which has taken the token’s price from its peak of $14.47 on Monday to $13.92 at present, according to CoinGecko.

Aptos, which was launched with a lot of attention and controversy in October 2022, now has a market cap of about $2 billion, making it the cryptocurrency market’s 35th most valuable network.

The upward price trend started a couple of weeks ago when PancakeSwap, an established decentralized exchange (DEX), had a community vote on whether it should continue to deploy on Aptos.

At the moment, PancakeSwap is the top decentralized exchange on the Aptos blockchain, dominating with $32.2 million in TVL (Total Value Locked), or 58.5% of the market. The total Aptos TVL for today amounts to $55.1 million, DefiLlama data shows.

Additionally, the price of ATP has been affected positively by its token’s inclusion in Atomic Wallet. Not only that – there is a great deal of attention being paid to NFT collections powered in Aptos, which has also contributed to the trend.

FTM, HBAR are Joining the Bull Run

In the meantime, Fantom (FTM) is up more than 29% this week, as a string of remarkable milestones in recent weeks has caused the token to more than double in value since mid-December.

Earlier in January, the Fantom Foundation confirmed the approval of a governance proposal that would allow developers working on the Fantom infrastructure to generate profits from gas fees on their contracts.

Following this, Fantom’s decentralized vault went live with the goal of supporting ecosystem initiatives with a subsidy of 10% of the network’s transaction costs.

According to Fantom, this fund is intended to empower builders on Fantom by providing a decentralized way to fund a variety of projects, ideas, and creations by allowing a community-driven decision-making process to take place.

When all events are taken into consideration, Fantom rallied to $0.42, to its highest level since May 2022, then dropped to $0.39 on Wednesday, CoinGecko data indicate.

An additional cryptocurrency showing a strong uptrend of almost 29% this week is HBAR, Hedera’s native token.

On Sunday, HBAR reached $0.078, its highest price in four months, after the developers declared that the network has officially handled more than 3 billion transactions. Now, the price has fallen to $0.069, according to CoinGecko.

Additionally, Hedera’s market capitalization increased significantly, jumping from about $1.3 billion last week to nearly $2 billion at the end of the last week; however, it fell to $1,61 billion by the time of writing.

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