Share this article
Layer 1 Blockchain Aptos Token Reaches All-Time High
APT has been surging since the start of the year, but some traders expect the rally to be short-lived.
Updated Jan 27, 2023, 5:01 p.m. Published Jan 25, 2023, 6:38 p.m.
Layer 1 blockchain Aptos’ token, which has been surging since the start of the year, broke an all-time high on Wednesday. The token, APT, reached $16.46 and is up 350% since Jan. 1, according to CoinDesk data.
APT was more recently changing hands at $16.22, a more than 25% gain over the past 24 hours.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The token’s rally has outsized recent moves from the two largest cryptocurrencies by market cap, bitcoin and ether. Bitcoin is up 30% in 2023, while ether has gained 34%.
The funding rates for the token are still negative, however, suggesting traders are expecting the rally to be short-lived.
“If traders are willing to open short positions with highly negative funding rates, they must have belief the token will decline,” Christopher Newhouse, a crypto derivatives trader at crypto market maker GSR, said. “Despite the surge, this suggests shorts think the rally may have gone too far.”
Aptos was founded by two Ex-Meta Platforms employees and has garnered some scrutiny over its APT token distribution since launching mainnet in October. Investors and the Aptos Foundation received almost half the one billion tokens issued.
As CoinDesk reported earlier in the week, non-fungible token markets on Aptos could have contributed to the growth. Data from Aptos NFT marketplace Topaz shows collections such as Aptomingos and Aptos Monkeys attracted tens of thousands in trading volume on Monday. Trading volume for Aptomingos is up 250% over the last 24 hours, according to Topaz.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Ethereum’s P2P Layer Is Improving Just as Institutional ETH Buys Pick Up
Early PeerDAS performance is proof that the Ethereum Foundation can now ship complex networking improvements at scale.
What to know:
- Ethereum co-founder Vitalik Buterin said that the network is addressing its lack of peer-to-peer networking expertise, highlighting the progress of PeerDAS.
- PeerDAS, a prototype for Data Availability Sampling, is crucial for Ethereum's scalability and decentralization through sharding.
- BitMine Immersion Technologies has significantly increased its Ethereum holdings, viewing it as a strategic investment in the network's future scaling capabilities.
Top Stories
