Last Updated on January 26, 2023 by Bitfinsider
First layer Blockchain Aptos’ APT token has increased 250% in just 14 days, despite the fact that the broader crypto market is dealing with bankruptcy, lawsuits, and a drop in overall mood.
On Wednesday, the token has a market capitalization of more than $3 billion, ranking Aptos as the 25th-most valuable network based on current token supply, with a fully diluted valuation of $14 billion based on total supply.
Aptos’ non-fungible token marketplaces appear to have contributed to this growth. Aptos NFT marketplace Topaz data reveal that collections like Aptomingos – a set of comic flamingos – and Aptos Monkeys drew tens of thousands of dollars in trade volume in the last 24 hours, with the minimum prices of several NFT projects climbing in the last week.
Even after breaking the 2022 record high, the price of APT continues to rise. At the time of writing, the layer 1 blockchain token is trading at $18.89, just shy of $20.00. Investors appear to believe that the recent increase in Aptos pricing is credible and could last longer.
What is Aptos and how to start trading Aptos on ProEX
Aptos is a planned Layer 1 distributed ledger that leverages the Move programming language. The cryptocurrency offers improved scalability, dependability, security, and usability for its users.
Aptos is still in the earliest planning stages. It has not yet created Aptos coins or released an official white paper. Despite this, crypto experts are already discussing the Aptos blockchain, which has raised millions of dollars from investors. Aptos will be a Layer 1 blockchain constructed using Move, a Rust-based programming language. A parallel execution engine, high-level security measures, and minimal transaction costs are among the planned features.
Due of its unique history, the Aptos blockchain is generating all this buzz. The blockchain is based on the recently abandoned Diem blockchain proposal from Meta. Diem engineers are creating the Aptos cryptocurrency, which will utilize the programming language originally designed for Diem. It will continue to prioritize Diem’s original objective of developing a scalable, quick blockchain. Moreover, it intends to provide other features that will make the cryptocurrency more accessible to normal consumers.
Who Is Aptos Labs?
Aptos Labs is the group responsible for the Aptos project. Co-founders Mo Shaikh and Avery Ching are currently in charge of a broad group of developers, engineers, and strategists.
Shaikh and Ching worked together on the Diem blockchain project at Meta, where they met. Shaikh has experience in the private equity and venture capital industries, and excels in scaling products. During this time, Ching was one of the top software engineers at Meta and has previously led numerous exciting and innovative development projects. When Meta decided to abandon the Diem project, Shaikh and Ching opted to establish Aptos Labs.
The motto of Aptos Labs is “Building a Layer 1 for everyone.” The organization is committed to developing the most secure and dependable network available. Even though they’ve only existed for a short period, their mission has already garnered significant support. Aptos Labs has successfully raised over $350 million in two funding rounds, deployed its developer testnet, and processed millions of transactions and thousands of nodes.
What makes Aptos distinctive?
If you’re a frequent reader of crypto-related news, Aptos crypto may sound somewhat familiar. Many new blockchains claim to be innovative Layer 1s that will address all scaling issues, which is undoubtedly true. Although it’s natural to approach Aptos with a degree of skepticism, the destination does merit its reputation. The Aptos blockchain is distinguished by its very active community, abundance of investors, and access to unique engines and programming languages. If it lives up to its claims, it will be quite distinct from existing Layer 1 chains.
Why Do VCs Pay Attention to Aptos?
This year marked the debut of the Aptos blockchain, but it is already receiving substantial money. In March of 2022, Aptos accepted its first significant round of investments. A total of $200 million was contributed by several prominent venture capital firms, including a16z Crypto, Multicoin Capital, Hashed, Tiger Global, Three Arrows Capital, FTX Ventures, and Coinbase Ventures. In June, Aptos received an additional $150 million from FTX Ventures and Jump Crypto. Previous investors, including a16z crypto and Multicoin Capital, have participated in various investment rounds.
Is Aptos an Worthy Investment?
Should you immediately join the other venture capital firms and invest in the Aptos blockchain? Aptos appears to be one of the most trustworthy crypto enterprises of 2022. Obviously, no project is infallible, and nobody can examine Aptos in its entirety until it actually launches. However, based on what is currently known about Aptos, it appears to be a sound investment.
Multiple variables combine to make Aptos crypto appear to be an excellent investment option. Initially, the endeavor is a continuation of a Meta-founded initiative that was already producing positive results prior to its cancellation. In addition, the developers working on it are skilled, highly-trained individuals who have previously worked on fascinating projects. Aptos has demonstrated that it can back up its claims with its excellent TPS rates during testing, in addition to its star-studded crew.
Aptos distinguishes itself from the swarm of Layer 1 initiatives due to its distinct design that separates consensus from execution and its use of Move as a programming language for increased security. Armed with this momentum of VC interest and an experienced ex-Diem team, Aptos has a bright future as it strives to completely roll out its launch plans and attain widespread adoption in the crypto industry as the most rapid and secure Layer 1 project to date.
Are you Ready to Trade Aptos on ProEX?
3 Simple Steps to Buy Aptos on ProEX
- Sign up and register an account on ProEX
- Buy USDT via ProEX One-click Buy
- Trade APT/USDT at ProEX Spot
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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.