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The Aptos token has grown in price by 420% in 30 days, the price of dydX has increased by 90%, the price of Injective has risen by 72%. Santiment specialists expect continued growth in prices for crypto assets
In January of this year, prices for some altcoins rose by tens or even hundreds of percent. According to Santiment analysts, sentiment in the crypto community may signal peaks, but if traders do not take into account emotions, then the rally may continue.
Aptos (APT) – volume growth
Aptos (ART) token exchange rate increased by 420% over the month from $3.61 to $18.9. The weekly increase in the price of the asset amounted to 145%, daily – 40%. As of 11:00 Moscow time, ART is trading at around $18.93, according to CoinGecko. The market capitalization of the coin exceeded $3 billion.
APT is the native token of the Aptos blockchain launched in October 2022. The first-level network allows you to create smart contracts and decentralized applications in the Move language, which has increased security and code reliability. The main feature of this network is the use of parallel transaction execution technology, which increases the throughput of the block and increases the speed of transactions.
Developers reported last week that the Polygon and Flow networks have begun using Aptos technologies to speed up transactions. It also announced a partnership with the Moralis Web3 project, which will allow about 300,000 more developers to create and deploy applications on Aptos. Binance has added new liquidity pools for APT/BTC and APT/USDT pairs.
Aptos traded volumes over the past 24 hours amounted to $2.6 billion, most of which came from the APT/KRW (Korean won) trading pair on the South Korean exchange Upbit — $1.2 billion (46.35%). From February 1 to 3, Seoul Hack 2023 hackathon from the Aptos Foundation ecosystem developers will be held in Seoul.
dYdX (DYDX) – token unlock transfer
Another cryptocurrency that has shown significant growth over the past month is dydX (DYDX). The price of the token increased by 90% in 30 days from $1.15 to $2.19. With an asset capitalization of $313 million, the daily trading volume was $476 million.
DYDX is the native token of the decentralized cryptocurrency exchange dYdX, which supports margin trading and perpetual futures trading. In 2021, some of the dydX tokens were distributed among project employees and investors, but blocked. The unlock was supposed to begin with the release of approximately $156 million worth of tokens into circulation in early February.
On January 25, the dydX team announced that the start of unlocking is being pushed back to December of this year. After the message from the developers, the price of the token began to grow. The daily increase in the rate of dydX was 30%.
Injective (INJ) — fund launch
The rate of the Injective (INJ) cryptocurrency has also grown significantly. Over the month, the price of the asset rose by 72% from $1.31 to $2.26. The market capitalization of the asset reached $175 million with a daily trading volume over the past 24 hours of $147 million.
Injective is a protocol for financial instruments. The goal of the project is to make exchanges fully decentralized public networks. The platform is operated by INJ token holders. Injective Protocol was launched through an ICO in 2020, backed by industry players such as Binance and Pantera Capital.
The creators of the Injective project announced on January 25 the launch of the $150 million Injective Ecosystem Fund. The initiative aims to accelerate the adoption of a blockchain optimized for financial applications. Pantera Capital, KuСoin Ventures, Jump Crypto, Gate Labs, Delphi Labs, Flow Traders and Kraken Ventures have joined the project. The INJ token exchange rate increased by 20% per day.
Santiment analysts also drew attention to the growth of tokens over the past day. They also saw LCX (LCX) up 39%, SONM (SNM) up +31%, Concordium (CCD) up 22% and Nevros (CKB) up 21%. They wrote on Twitter (the social network is blocked in Russia) that after a five-day drawdown, prices met some resistance. The hype and emotion indicators on social media may be signaling tops, but traders may not take this into account and the rally will continue, Santiment believes.
Earlier, Santiment named the top 10 most developing altcoins and explained why the activity of developers is important to consider when evaluating crypto projects and compiling an investment portfolio.
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