Is Aptos (APT) Crypto Worth Investing in 2023?
Aptos is a layer-1 blockchain network created by Aptos Lab. It is designed for the betterment of the blockchain network to introduce mass adoption to the Web 3.0 space with efficiency and security.
Like most popular cryptocurrencies on the market, Aptos does have its own peculiarities that are gaining market traction. In this article, we will go over this specific digital currency in depth and determine whether you, as a crypto investor, should consider investing in it or not.
Aptos (APT): Token overview
Here is a market overview of Aptos (APT) as of now:
| Price | $11.36 |
| Market Cap | $1,848,129,432 |
| Fully diluted market cap | $11,568,545,067 |
| 24-hr volume | $329,076,559 |
| Circulating Supply | 162,624,556 APT |
| CoinMarketCap Ranking | #32 |
What is Aptos (APT)?
Aptos is the new blockchain network founded by the former employees of Meta, Avery Ching and Mo Shaikh. They both worked on Meta’s blockchain project, called the Diem project, which was later discontinued.
After the project was discontinued, they independently formed Aptos Labs to create Aptos, which is a Layer 1 proof-of-stake (POS) blockchain network with a Rust-based programming language in the crypto space.
It is a network that claims to process over 150,000 TPS through a parallel execution engine, whereas most blockchains use sequential execution transactions. Their “parallel execution” technology certifies that all transactions on the chain are performed simultaneously and validated subsequently.
Basically, the requisite amount of transactions will go through, and failed transactions won’t stop the whole system. The failed transaction is aborted and re-executed.
Aptos is claimed to have been created to bring more efficiency to the crypto space, which will help bring mass adoption to Web 3.0 with security.
Aptos mainnet, called “Aptos Autumn,” is already on the run and was launched on October 18, 2022.
APT is the Aptos blockchain’s native token. It is the digital currency that reflects Aptos progress in the form of demand and, consequently, price.
How much is Aptos (APT) worth?
The Aptos (APT) token was launched on October 18, 2022, with a price of $8.5 per token. APT has steadily risen in the rankings since its inception.
As of the date of this article, the value of Aptos (APT) is $11.36 per token, with a market cap of $1,848,129,432 and a fully diluted market cap of $11,568,545,067. Its current circulating supply is 160,289,078 APT, with a maximum supply of 1,015,668,377 APT.
On January 26, 2023, APT touched its all-time high price of $19.01.
The scenario of Aptos (APT) so far
Aptos was listed in October 2022 with lots of hype as the founders were Meta’s former blockchain engineers.
The incompletion of Meta’s Denim project raised hope among people for Aptos to be the complete base layer blockchain project.
Mo Shaikh, who is the current CEO of the company, has immense experience in the field of multinational financial services, and blockchain has created hype in the market for Aptos.
Aptos’s entry was stated as the “Solana Killer” in the crypto space, as Aptos claimed a throughput of 160,000 transactions per second (TPS), whereas Solana, one of the fastest blockchains, had a throughput of 65,000 TPS.
On the other hand, Ethereum, which is the second-largest crypto by market capitalization, lacks scalability and faster transactions. Aptos aims to solve all of the base-layer problems of blockchain networks to become the ideal blockchain network in the crypto space.
Aptos’ entry had good exposure in the crypto market for its efficient ecosystem with new parallel execution engine technology, which is claimed to process over 150,000 TPS.
They also came up with a new smart contract language called “Move,” which is a bridge for new smart contract development based on Rust, which is used in Solana as well.
Investors speculated that Aptos would play a vital role in the future of blockchain networks because the operators were well known for their work at Meta.
Is Aptos (APT) a good investment in 2023?
Yes, Aptos (APT) could be a smart investment in 2023. Actually, it is one of the experts’ top picks for eager crypto investors to invest in this digital currency.
The cryptocurrency market considers Aptos (APT) to be fairly well-liked. They are a base-layer blockchain network that uses cutting-edge, effective technology to advance and widen the adoption of the Web 3.0 era.
It offers new and novel innovations in smart contract design, system security, consensus, performance, and decentralization of the ecosystem.
Aptos is pretty prominent for its professional backend authority in the market. They raised a large sum of money from Venture Capital (VC) funding. The total amount was more than 350 million dollars and is backed by big companies which include Binance, Jump crypto, etc.
Aptos has also been seen trending on CoinMarketCap (CMC). CMC shortlists trending cryptocurrencies based on their market capitalization, trading volume, and other factors over time. Aptos had a good entry into the market, and the year 2023 is speculated to be favorable for the digital currency as it is climbing steadily.
All of these facts seem to suggest that investors should be upbeat about Aptos’ growth going forward. That said, there can be the following potential risks of investing in the newly released cryptocurrency, Aptos:
Potential risks associated with investing in Aptos (APT)
- Often new cryptos are overhyped, leading their prices very high. Be mindful of not buying APT in such environment as it may result in a loss in the long term.
- Being new and open-source project, it may take time to build trust and authority as a secure platform.
Should I invest in Aptos (APT): Conclusion
In conclusion, it can be said that Aptos (APT) is a good investment.
Aptos is completely built from the ground up, and this project may bring efficiency to the ecosystem with low transaction fees and higher security.
Notably, investors should watch the listing price and compare it to similar projects to see if it is undervalued or overvalued. One should also check the tokenomics to see if early investors have their tokens locked up or not.
It is wise for investors with a long-term perspective to invest in a project that is working hard for the betterment of the Web 3.0 ecosystem. Aptos is seen in the downtrend in the last month (February).
Up until now, Aptos has had a good reputation on the market because people have believed in the founders’ ability to establish the project for the betterment of the blockchain ecosystem.
You may visit Aptos’s official website to learn more in detail. They have posted their whitepaper, which contains all of the basic information about the company, its progress, roadmap, and goals.
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Where can I buy Aptos (APT)?
APT is listed on a variety of crypto exchanges. The following are a few of the top exchanges where you can buy, sell, and trade Aptos (APT):
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Disclaimer: This article solely reflects the opinion and research of the author. Readers should not rely on it as their sole source of information and guidance when making investment decisions. Due to the market’s high volatility and risk, they should do their own thorough research and make the right choices.
