- A crypto investor’s $226,000 purchase of APX tokens in 2022 is now worth over $7 million after the token’s price surge.
- APX, the native token for APX Finance, climbed more than 120% in 24 hours and reached an all-time high of $1.98.
- The price rally followed the launch of a token swap, allowing APX holders to exchange their tokens for ASTER, the new Aster protocol token.
- Aster’s total value locked briefly exceeded $2 billion after the token release but later fell to $545 million.
- Aster has received backing and support through programs run by BNB Chain and incubation by YZi Labs.
A crypto investor who acquired $226,000 worth of APX tokens in 2022 now holds assets valued at more than $7 million, following a sharp increase in APX’s price this past week.
Blockchain data from Arkham Intelligence shows that wallet 0x9d22 gathered 3.62 million APX tokens when prices were below $0.07 each. The tokens are now trading around $1.95, as of the latest data. APX rose by over 120% in one day, reaching a record $1.98 on Sunday. The market capitalization now stands at $827 million, with $79 million traded in a single day. APX’s price has jumped nearly 8,000% from its 2022 low.
APX is the main token for APX Finance, a decentralized platform for trading crypto-based derivatives on BNB Chain and Arbitrum. The exchange provides order book and on-chain perpetual contracts with up to 1001x leverage, while also offering high yields to liquidity providers through pools focused on stablecoins.
The recent surge in APX value came after the launch of a planned upgrade. The swap allows holders to exchange APX for ASTER, which is the new token of the Aster protocol. Early users who participated in the swap received better rates, with the offer structured to reduce incentives over five time periods. According to Aster’s official documentation, APX DAO stakers could remove their positions without a penalty and convert their tokens during this window.
After ASTER’s debut, the total value locked (TVL) on the Aster platform quickly climbed above $2 billion, according to Cointelegraph reports. The figure later dropped to $545 million. Trading volume on Aster reached $434 million in one day, placing it among the most active decentralized finance platforms for derivatives, though still behind Hyperliquid in total volume and open interest.
A spokesperson for BNB Chain confirmed that Aster gained technical guidance, support, and exposure through its partnership. YZi Labs, linked to Binance, also incubated Aster and invested in its predecessor project, Astherus.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- XRP ETF Frenzy: Analysts Predict XRP Could Hit $25 After Approval
- Jefferies: Crypto in “1996” Phase, $1T Market Potential by 2029
- BRICS Currency Plans Face Skepticism, Dollar Dominance Persists
- Flora Growth Unveils $401M 0G Treasury, Rebrands as ZeroStack
- Vitalik Buterin: Low-Risk DeFi Can Give Ethereum Google-Like Stability
