Aptos’ transaction speed advantage could cement itself as the ‘Solana Killer’.
APT is up more than 400% in the past month.
With its growing list of partnerships and product launches, Aptos [APT] has caused the crypto world to sit up and take notice. It recently completed the first leg of its ambitious world tour hackathon in Seoul.
Seoul, that’s a wrap!
Thanks to the rockstar hackers who made the first stop on the #AptosWorldTour such success.
We are amazed by the talent, ideas and potential of Aptos.
Culture 🤝 is being built here.
Where to now? Stay tuned. pic.twitter.com/2v1HRC2Vqy
— Aptos (@Aptos_Network) February 5, 2023
In addition, it expanded its footprints in the web 3 gaming ecosystem. Its partner METAPIXEL announced the upcoming launch of ‘Pixelcraft’ on the Aptos network through an official title reveal video.
The next question on everyone’s mind, though, is whether all this hype is enough to dethrone Solana [SOL] against which APT has been consistently positioned.
Realistic or not, here is APT’s market cap in terms of BTC
Aptos has a clear advantage in this area
Aptos is a layer-1, proof-of-stake blockchain launched in October 2022 by Meta’s (formerly Facebook’s) post-Meta engineers failed to launch its own blockchain. The chain was developed using a Rust-based programming language called MOVE.
Unlike other blockchains, Aptos uses parallel execution mechanism that helps reduce latency and generate faster transaction speeds. It is precisely in this department that Aptos challenges Solana.
According to ZebPaySolana can process 65,000 transactions per second (TPS), while Aptos can clock more than double at 150,000 TPS. This transit differential could decisively shift momentum in APT’s favor over the long term.
Solana also suffered from several network failures in 2022 interviewSolana co-founder Anatoly Yakovenko called network outages Solana’s curse.
Aptos’ NFT and DeFi spaces are promising
APT’s total volume locked (TVL), while significantly less than Solana, has shown better growth recently. While SOL grew 0.44% over the past seven days, APT increased by nearly 4% over the same period, data from DeFiLlama showed.
APT’s TVL was $61.38 million at time of press, primarily driven by Pancakeswap [CAKE]which had a dominance of almost 60%.
Source: DeFiLlama
Aptos’ growth is also driven by the NFT collections. NFT trading volume on the network recently hit a three-month high of $1.92 million. The expansion has been lightning fast in the past two weeks.
Source: Sentiment
How much are 1,10,100 APTs worth today?
The growing appeal of Aptos is reflected in the price action of late, with it becoming one of the most profitable cryptos on the market.
The price exploded from around $3 at the start of the year to $15.57 at the time of writing. During the same period, the market capitalization skyrocketed to more than $2.6 billion. That being said, the price action over the last 10 days indicated retracement.
The Relative Strength Index (RSI) fell from overbought territory. While still above the neutral 50 level, there were early indications of a retracement.
The On Balance Volume (OBV) also started to move south, implying that traders wanted to take profits after the bullish rise. The Awesome Oscillator (AO) was also in red.
Source: TradingView APT/USD
This post Aptos [APT] 2023 kicks off with a bang, should Solana holders be concerned?
was published first on https://ambcrypto.com/aptos-apt-starts-2023-with-a-bang-should-solana-holders-be-worried/
