cryptopolitan.com
Aptos (APT) has shown resilience during the recent market downturn by outperforming Solana (SOL) in terms of price appreciation.
Aptos has shown decent resilience in recent market conditions. APT has seen a 36.5% increase in the last 30 days as per CoinGecko data.
The coin has also gained by 22.9% in the last 14 days and a 2% uptick over the previous 24 hours. In contrast, Solana’s performance has been less impressive, with only an 8.8% increase in the last 30 days. SOL has lost nearly 11% in the last seven days and a 3.2% drop in the last 24 hours.
Franklin Templeton chooses Aptos
A major boost to Aptos’ price came with the announcement that Franklin Templeton, a global investment management firm, has launched its OnChain U.S. Government Money Fund (FOBXX) on the Aptos blockchain.
The launch of FOBXX on Aptos allows institutional investors to access the fund through Franklin Templeton’s Benji Investments platform. Additionally, investors have the option to manage their wallets on the Aptos network if they wish to.
Aptos makes strategic expansion into Japan
Aptos has made a strategic move to penetrate the Japanese market by acquiring HashPalette, a subsidiary of HashPort Inc. and developer of the Palette blockchain. This acquisition is particularly important due to HashPalette’s established relationships with major Japanese enterprises. These include telecommunications giant KDDI.
As part of the acquisition, HashPalette will migrate its Palette Chain and applications to the Aptos Network by early 2025. Holders of the Palette Chain’s governance token (PLT) may have the option to exchange it for APT. However, the details of this process are yet to be finalized. The integration is set to be done before Expo 2025 in Osaka.
The acquisition’s timing aligns with Aptos’ role as the exclusive blockchain provider for the digital wallet system at Expo 2025 in Osaka.
Additionally, Aptos Labs is also forming an alliance with HashPort. “This collaboration will enable HashPort to continue building blockchain solutions for its enterprise clients using Aptos Network’s infrastructure, further advancing mass Web3 adoption in the country,” Aptos said.