APT is the native token of alternative Layer 1, Aptos. Aptos has been hailed as the “Solana Killer” upon its mainnet launch in October 2022, where its adoption of Move programming language is perceived to enhance the scalability, reliability, security, and usability of a Layer 1 blockchain. Aptos has been on a tear since December, with a 7-day return of 140.1% and a 30-day return of 403.1%. Despite alternative Layer 1 mostly chalking off massive gains of late, including Fantom’s 30-day return of 99.2% and Hedera’s 30-day return of 52.2%, Aptos has still outperformed its peers remarkably.
Fundamentally, there is a lack of blockchain upgrades and new blue-chip protocols joining the platform, while TVL has seen only a 43.4% increment in the past month. PancakeSwap’s decision to continue, deployment, on the network, coupled with the , integration, with the Atomic Wallet, is seemingly unable to justify the recent surge. Zooming in, approximately 50% of the past 24-hour trading volume stemmed from a Korean exchange Upbit. As such, “Kimchi Premium” has likely contributed to APT’s quadruple rally, in which the upcoming , Aptos Seoul Hack 2023, may have buoyed the sentiment of Korean investors.
Check Out the Latest Prices, Charts, and Data for, APT/USDT, !
Talk of the Town
Marinade Finance (MNDE), the largest DeFi protocol on Solana, introduced the Open Doors Program to boost the adoption of its staked SOL offering (mSOL). The program earmarks funds worth 16% of MNDE supply over the next 12 months to incentivize the participation of new users. In detail, one staked Solana for 12 months will receive rewards of 4 MNDE. The launch of mSOL is ahead of Lido’s staked Solana solution, aiming to take up more market shares before similar products enter the market. The program will not only increase revenue for Marinade Finance from a haircut of staking interest but also enhance the decentralization of MNDE tokens as more Solana users will own MNDE.
Check out what else is buzzing in the crypto scene today:
BlockFi financials reveal $1.2 billion FTX exposure. (, Link,)
Binance acknowledges mixing B-tokens’ collateral and customer funds. (, Link,)
France regulators vote for less stringent registration requirements. (, Link,)
Vitalik Buterin introduces “stealth addresses” as a privacy solution. (, Link,)
Pantera, Jump Crypto Back $150M Injective Ecosystem Fund. (, Link,)
Lido presents the design for staked ether withdrawals after the Shanghai upgrade. (, Link,)
