Aptos (APT) Skyrockets 32%, Bitcoin Remains Flat on Low Trading Volume (Weekend Watch)

By akohad Oct23,2022


Bitcoin continues to trade without any substantial moves in either direction on low trading volumes, similar to previous weekends.

Most alternative coins sit quietly as well, with ETC and APT being among the few exceptions, posting notable gains.

Bitcoin Stalls at $19K

The past seven days were significantly less volatile than the previous week, in which BTC went from $19,000 to $18,200 and up to $20,000 in a matter of 24 hours after the latest US CPI numbers came out.

However, the asset failed to breach the coveted $20,000 line and returned back down to a familiar sight of $19,000. It spent the past weekend there as well as Monday. It tried to get ahead on Tuesday with a price jump to $19,600 but was stopped in its tracks once more.

The scenario repeated on Thursday. This rejection, though, drove BTC south hard, and the asset fell to a 9-day low of $18,600. It bounced off rather quickly and returned to $19,000 as the weekend came.

The low trading volumes have expectedly led to another uneventful trading day, with the cryptocurrency sitting quietly at just over $19,000. Its market cap is still at $367 billion, while its dominance over the alts is inches away from 40%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

APT Steals the Show

The landscape with most alternative coins is similar to the one with BTC, meaning there’re few very substantial price movements.

Almost all larger-cap altcoins are with minor gains. These include Ethereum, Binance Coin, Ripple, Cardano, Solana, Dogecoin, Polkadot, MATIC, Tron, and Avalanche. Shiba Inu sits with a slight loss.

Ethereum Classic stands out as the best performer from the larger-cap alts. It’s up by 6.5% in a day and trades above $23.

Aptos, on the other hand, has skyrocketed by 32% daily. As a result, the native cryptocurrency of the recently-launched blockchain network has neared $10.

However, these gainers have not pushed the crypto market cap upwards, as the metric remains around $920 billion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.


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By akohad

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