ApeX reports 203% gains amid market downturn

According to CoinGecko data, ApeX, the token behind the decentralized derivatives protocol, was reported as the top gainer on Jan. 3.

These gains come in contrast to a declining market, which has experienced a 7.2% decrease in market cap overall. In contrast, ApeX (APEX) over the last seven days, ApeX has recorded a substantial price increase of 203%, while the global cryptocurrency market has experienced a decline of 3.3%.

The current price of ApeX stands at $1.02, reflecting a 203% surge in the last 24 hours and an impressive 184% increase over the past week. ApeX’s market cap is valued at $39,910,193, considering a circulating supply of 44 million APEX.

The positive gains for this token are attributed to a Jan. 2 announcement that the ApeX Protocol, as reported on X, announced the integration of smart contracts from Stacks to scale Bitcoin.

The introduction of the STX-USDT token pair was highlighted, inviting users to participate in trading activities with 25 times leverage for potential gains. 

While Bitcoin (BTC) and Ethereum (ETH) continue to face a slight downturn with less promising news from earlier today, altcoins seem to be creeping ahead in growth.