The cryptocurrency market witnessed an upward movement in January leading to an impressive performance for a number of altcoins including Solana (SOL), Gala, Mana, Threshold (T), and Aptos (APT).
This upward movement saw the world’s largest cryptocurrency, bitcoin reaching $23,950 a coin before receding to $23,099 at the time of this report. This has however reinforced a possible cryptocurrency momentum in 2023.
Below is a snapshot analysis of 5 Altcoins with impressive upwards movement in January.
Solana: Riding on Bitcoin’s movement, Solana peaked at $26.80 in January after closing at $10.13 at the end of 2022. Thereby, making a gain of $16.67 in January.
In the last 30 days, SOL moved roughly by 133% to $26.80 with resistance at $30, Binance Data reveals. Although SOL has seen a massive fall from its all-time high of $259.90, the 11th most capitalised cryptocurrency has been witnessing some stability after it was negatively impacted by the debacle of FTX. Investor King understands that FTX owns around 10.7% of the total supply of SOL.
Decentraland (MANA): Mana is one of the top-performing cryptocurrencies in January after rising 150% against US Dollar. Over the last two weeks, MANA climbed 7.3%, and in the past seven days, it rose 2.9%. On January 31, 2023, Mana, which is one of the earliest Metaverse projects, rose on the back of Apple Virtual Reality Headset Collections. Apple is rumoured to be launching its VR headset collection this spring, CNBC reported.
GALA: Gala rose from a low of $0.046 to a high of $0.62 after its team announced a new roadmap for the project which will introduce a new burn mechanism. This announcement led to massive buying pressure and a subsequent rise against USD. Although Gala is currently trading at $0.52 at the time of this report, it has claimed 212% upward movement in the past 30 days and is up by 9.49% in the last 7 days.
Apto (APT): Launched in October 2022, Apto has been able to attract the attention of the crypto community with its unexpected upward movement. On the day of launch, it quickly moved from $1 to $100. APT is currently trading at $16.48 at the time of this report. Yet, in the past 30 days, APT is up by 364%, and 36% in the last 7 days. Data from CoinDesk reveals.
Threshold (T): Threshold was born through the merger of two projects, Keep Network and NuCypher. It is a decentralised finance that offers both staking and liquidity. Rising on the announcement of Coinbase listing, Threshold is up by 205% in the past 30 days. It is currently trading at $0.048 at the time of writing this report.