Aptos Rises After Fed Rate Decision

The Fed announced the first interest rate decision of 2023 as expected. The Fed Open Market committee (FOMC) increased the policy rate by 25 basis points by pulling the policy rate to the range of 4.50-4.75. After the decline in cryptocurrencies before the Fed interest rate decision, APT went on the attack again. Aptos, which has had a large transaction volume in the crypto money market recently, has led the market for altcoins by taking the ropes again after the Fed interest rate decision announced yesterday evening.

Continuously working towards improving the ecosystem, Aptos continues to be active on the technology’s evolving blockchain developments, NFTs, DApps, Web3 and smart contracts. As a result of his work on the Layer-1 platform and Ethereum scaling, he started to receive positive feedback.

Solana, which has made a name for itself in the past, has started to create the same effect for the market as Aptos has made an impact in its popular period. Ethereum, which is a pioneer in terms of altcoins, has always been compared with other projects in terms of structure. These projects marked the market at that time and showed sharp rises. With the Aptos working process, activities and the wind behind it, it is the current Ethereum killer candidate.

Before the first Fed rate decision of the new year, the price of Bitcoin in the crypto money market reached the level of $ 22,490, which is the important support point. With the decline, many altcoins tested their support points. APT broke the $15.60 level as a timely resistance. While volatility continued after the Fed decision, altcoin APT was the fastest to keep up with the sharp increase in Bitcoin.