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Aptos (APT) recorded high gains over the past three days. Besides the recent improvement in market sentiment, APT’s performance anchors on the Aptos SDKs (Web3 game development tool kits) deployment. Aptos announced a partnership with NPIXEL, a leading Korean Triple-A gaming studio.
At the time of writing, APT price has rallied over 21% in the last seven days, with a 70.57% rise in trading volume over the past 24 hours. APT’s rally didn’t just start today. After two consecutive days of decline, APT surged 14% on Monday, March 13, pushing its price from $10.40 to $11.95 and current price.
APT Price Soaring In The Wave Of New Web3 Gaming Plans
APT is the native token of the Aptos blockchain, a layer-1 proof-of-stake blockchain that deploys a Smart Contract programming language called Move. Aptos launched its blockchain to bring mainstream adoption to Web3 and empower an ecosystem of DApps to solve real-world problems.
The blockchain has been sticking to its vision through several Web3 acceleration programs, with the latest one being the new software development kit (SDK). With the SDK, Aptos plans to enter the Web3 gaming space, granting game developers and users ownership of in-game assets.
According to Aptos Labs, the SDK is a big win in Web3 gaming as it enables interoperability and transparency in gaming. It would allow gamers to port virtual goods, purchase, liquidate, and trade game items. The launch of the SDK is partly responsible for APT’s increased trading volume and price.
NPIXEL chose to build its new gaming universe, METAPIXEL, on Aptos, marking a new milestone for the blockchain as it ventures deeper into gaming. This development is probably the primary source of increased activity on Aptos and why the APT token price is rallying today.
Using an underlying blockchain technology from Aptos, players in METAPIXEL can earn in-game assets and mint gaming equipment as NFTs. Players can trade the in-game digital assets and NFTs on Aptos-based NFT marketplaces. This utility would generate more traffic on APT and might also boost its price and trading volume.
Did The Latest CPI Data Affect Aptos?
Aside from the Web3 gaming tools, APT’s price performance is riding on the improved sentiment within the broader cryptocurrency market. Over the past three days, cryptocurrency prices increased following the banking turmoil in the US.
Moreover, the long-awaited February consumer price index (CPI) is finally out. The consumer price index for February is 6.0%, a notable change from the January index. The new CPI shows inflation rate continued to slow down in February. Items prices were up by 0.4% in February, as expected by economics, compared to January’s 0.5%.
Related Reading: ARK Invest’s Cathie Wood Claims Current Banking Crisis Was Inevitable
Cryptocurrency prices often decline when the CPI increase. The latest CPI data shows a reduction from the January inflation rate, a positive outcome for crypto. It could be why the investor sentiment has not crashed and crypto prices, APT inclusive, are still green today.
At press time, APT is trading at $12.20, with a high of $14.57 and a low of $12.18. Aptos (APT) price has increased by 7% over the past 24 hours while its trading volume has risen by 70.57% at $1.238 billion.
