Solana Killer Aptos Outperforms Market: Reasons

Aptos (APT), a core native cryptocurrency of the eponymous layer-1 blockchain, demonstrates impressive performance as the market declines. The upsurge of APT might be catalyzed by the decision of asset management giant Franklin Templeton to include the blockchain in one of its products.

Aptos (APT) up by 10%, becomes best performer in top 100

Aptos (APT), a high-performance modular layer-1 blockchain, sees its native cryptocurrency jumping by almost 10% while the rest of cryptocurrency market sees 3% capitalization decline.

Image by CoinGecko

In the last 24 hours, its capitalization has extended back above $4 billion mark. The token replaced Internet Computer (ICP) as the 27th largest crypto by market cap.

Such an upsurge was triggered by U.S. investing heavyweight Franklin Templton. The asset manager decided to include Aptos (APT) in its project, OnChain U.S. Government Money Market Fund (FOBXX). Aptos (APT) will accompany Arbitrum, Stellar, Polygon and Avalanche as the tech basis for the fund.

With its $435 million market cap, the fund is the second largest product in the segment of tokenized funds available to retail investors.

Flare (FLR) and Fasttoken (FTN) are two other assets in the top 100 that are in green today.

Almost $300 million in crypto positions, mostly longs, erased in 24 hours

Besides Franklin Templton's step, APT investors' optimism is catalyzed by information about Aptos (APT) acquiring Hashpallette crypto wallet developer.

Other cryptocurrencies are collapsing today amid Middle East tensions and macro uncertainty in the U.S. and China.

Bitcoin (BTC), the largest cryptocurrency, lost 2.4% today, while Ethereum (ETH) is down by 5.7%.

A total of $287 million in crypto liquidations were registered in the last 24 hours; $241 million of them represent long positions.