‘Layer-1’ cryptocurrencies Aptos, Fantom, and Hedera achieve impressive gains

APT, the token behind the layer-1 blockchain Aptos (which means it has the capability to process and finalize transactions), has made a strong start to 2023, achieving a growth of as much as 58 percent just during the past week. Aptos reached its current peak of $14.47 three days ago, while it is now trading around $13.85, according to CoinGecko data.

Launched with great excitement but also criticism in October 2022, Aptos currently boasts a market capitalization of just over 2.2 billion dollars, making it the 31st largest cryptocurrency.

The recent price increase actually began two weeks ago after the popular decentralized exchange (DEX) PancakeSwap held a community vote on operating on the Aptos blockchain.

PancakeSwap is currently the largest DEX on Aptos with $32.2 million in TVL (total value locked) and a 58.5 percent dominance. The total Aptos TVL is estimated at $55.1 million, according to DefiLlami.

The price of the APT token has also been influenced by a recent integration into the Atomic wallet, a self-custody crypto wallet across multiple blockchains, as well as the growing interest in NFT collections on Aptos.

Fantom and Hedera join Aptos

Fantom has risen by nearly 29 percent in the last week, as a series of notable achievements in recent weeks has also helped the token double in value over the past month.

Earlier this month, the Fantom Foundation announced a successful vote on a governance proposal that allowed developers building on the network to earn revenue from transaction fees. This was followed by last week’s launch of the decentralized Fantom treasury aimed at supporting ecosystem projects by subsidizing 10 percent of transaction fees.

Fantom jumped to $0.42 on Tuesday, a value last seen in May 2022, before falling to $0.40 today, according to CoinGecko.

Another asset that recorded an impressive upward momentum of nearly 29 percent during the week is HBAR, the token on which the Hedera blockchain is based.

HBAR reached a four-month high of $0.078 on Sunday, as the project announced that the network had officially processed over 3 billion transactions, before falling to the current price of $0.065.

Hedera also recorded a significant increase in market capitalization, which rose from about $1.3 billion weekly to nearly $2 billion on Saturday, before falling to $1.64 billion.