2023-04-14
Aptos is a layer 1 blockchain that uses the Move programming
language developed by Aptos Labs. Move originally developed by Meta for its
Diem project. Aptos claims that Move is easy to develop into smart contracts
and decentralized applications. Aptos’s native token is APT which can use for
paying transaction fees, staking, governance, and use for payment in DApps.
CryptoPotato reported that Aptos released 4.5 million APT
tokens into circulation on April 12. Increase supply of APT in circulation by
0.5%. APT has a total supply of 1.024 billion tokens.
Aptos mainnet went live in October 2022. Since its debut the
price of APT went from $7.3 in October 2022 to $12.9 in April 2023, performing
76.7% gain. Currently Aptos is 30th most valuable cryptocurrency. The
value of Aptos has overtaken Near Protocol and Fantom, the layer 1 blockchains
that came before it.
One of the reasons making Aptos price so expensive is that
Aptos is heavily support by big name venture capital firms including Andreessen
Horowitz, FTX Ventures, Tiger Global, and Multicoin Capital.
Aptos’s goal is to be Solana killer. Aptos claims that it has
time to finality in less than 1 second and the network can process 160,000 TPS.
Move is promise to be easier to develop when compare to Rust, the programming language
uses for Solana.
There is so much hype around the project as Aptos is
overpriced right now. The highest market cap it can have is $9.8 billion that
is the market cap of Solana right now. Aptos currently has the market cap of
$2.41 billion. Aptos has the maximum potential upside of only 300% gain, that’s
a very narrow profit individual investors can get.
List of smart contract blockchains that potentially can compete with
Ethereum.
1. Solana ranks #10, values $9.8 billion.
2. Polkadot ranks #11, values $7.96 billion.
3. Avalanche ranks #15, values $6.24 billion.
4. Cosmos ranks #21, values $3.52 billion.
5. Aptos ranks #30, values $2.40 billion.
6. Near ranks #35, values $1.98 billion.
7. Fantom ranks #42, values $1.45 billion.
8. Flow ranks #50, values $1.05 billion.
