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Bulls dominate Bitcoin and ETH, Aptos (APT) gaining momentum

Last week, the cryptocurrency market showed a positive trend, with bulls gaining strength against the bears in both Bitcoin and Ethereum. Although some altcoins posted significant gains earlier in the week as seen on both weekly and daily charts, adding to overall market optimism, these gains were later recouped by the end of the week.

Several tokens on the weekly winners list have seen significant increases. Aptos (APT) is currently at the top, followed by Curve DAO Token. In third place is Hedera (HBAR), with other tokens also seeing notable gains.

Aptos (APT), a Layer 1 PoS blockchain often dubbed the “Solana killer,” has performed exceptionally well among alternative coins.

Aptos has seen many developments over the past week such as: B. Web3 infrastructure provider Moralis announcing integration with Aptos, adding support for all existing API node wrapper endpoints and creating dedicated Aptos APIs. 1/ Hey Moralis community! 👋 We are very excited to welcome you to the Aptos family! Soon developers will be able to build and deploy applications at scale with @MoralisWeb3, the leading web3 development platform that provides everything needed to build, launch and grow in one place!picture

Additionally, Binance has introduced new liquidity pools for Aptos (APT/BTC, APT/USDT) to its Liquid Swap offering, as reported by TronWeekly.

This started a rally that resulted in APT ending the week at $11.75 with a substantial gain. Data from Coinmarketcap shows that APT is currently trading above its significant resistance of $14.38, up 11.56% over the past 24 hours and an impressive 77% gain for the week.

APTUSDT 2023 01 22 13 24 29Source: Trade View

According to CoinMarketcap, the value of the Curve DAO token has increased significantly over the past few days, with the token currently trading at $1.12, up 9.38% and 35% in the last 24 hours and the last seven days, respectively recorded.

CRVUSDT 2023 01 22 13 22 56Source: Trade View

The reason for this price increase is said to be a tweet from the token’s official account, which highlighted that the token currently offers an impressive 77% vAPY for LPs and 77% vAPY for the DAO, and it seems that the v2 pools are particularly beneficial for new tokens.picture

HBAR, a cryptocurrency that also serves as the Hedera Network’s utility token, has also performed well over the past week. Coinmarketcap reports that HBAR is currently trading at $0.06941 and is up 33.29% over the past week. This uptrend solidifies its market position and demonstrates the resilience of its ecosystem.

HBAR USDT 2023 01 22 13 20 48Source: Trade View

Additionally, some popular coins are seeing gains on the weekly charts, including AXS up 24%, Shiba Inu up 19%, and Fantom up 18%, according to data from CoinMarketcap. Some altcoins with losses on the weekly charts are USDC, BUSD, TRON, and LDO.

Bitcoin (BTC) & Ethereum (ETH) Weekly Recap

Over the past seven days, bulls have gained an advantage over bears as Bitcoin (BTC) price surpassed its key $23,000 resistance level and Ethereum (ETH) traded near $1,600.

Bitcoin (BTC) has reached new highs not seen since August 2022, surpassing $22,700 on Jan. 20. It’s the first time the largest currency has reached this level. BTCUSDT 2023 01 22 13 16 43Source: Trade View

The bull run continued while maintaining momentum and breaking the main $23,000 resistance level on Jan. 21. It’s a significant development for the cryptocurrency market and traders are keeping a close eye on where it will go next.

Similarly, Ethereum (ETH) also saw gains over the week, starting at $1,552.52. The bulls managed to push the price down to a major resistance level of $1,674.18 on Jan. 21. However, ETH failed to hold and the digital currency closed the week at $1,627.12.ETHUSDT 2023 01 22 13 19 13Source: Trade View

However, Bitcoin is currently trading at $22,588.86, up slightly by 0.04% in the last 24 hours and a notable 8.22% increase in the last seven days. While Ethereum is trading at $1,626.10, with a minimal daily gain of 0.01% and a 4.95% gain over the past seven days.

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