Aptos's native token jumps over 15% to hit all-time high

Quick Take

APT, the native token for the Aptos blockchain, rose by more than 15% and hit a new all-time high of $18.78 on Tuesday.
The token’s market capitalization neared $7.4 billion.

Aptos's native token hit a new all-time high on Tuesday after leaping over 15%.

The APT token was changing hands at $18.78 as of 10:51 a.m. EST, according to CoinGecko, with Tuesday's price the highest APT has traded since hitting its previous high in January 2023.

Aptos Labs, the company spurring the development of products and applications on the blockchain, announced a flurry of new initiatives this year. Last month, it introduced a new way for users to sign transactions on its network that eliminates the need for setting up passwords. Then, earlier this month, Aptos Labs announced it was working with Google Cloud to "enhance live service game offerings with Web3 capabilities, to the global gaming community. "

The Aptos blockchain was founded by former Meta executives. At the end of last year, the Layer 1 blockchain unlocked 24.8 million APT tokens, worth over $200 million at the time.

APT price action. Image: CoinGecko.

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