Main navigation

Solana 2.0: Here's Why Aptos (APT) Can Take SOL's Place

Mon, 11/21/2022 - 09:46
article image
Gamza Khanzadaev
"Solana Killer" Aptos (APT) gets chance to prove its nickname
Solana 2.0: Here's Why Aptos (APT) Can Take SOL's Place
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

The unexpected collapse of FTX caused the downfall of a blockchain that had close capital ties to the infamous exchange. This is, of course, about Solana and which, among the Layer 1 projects that have not yet fulfilled their role in life, will take the vacant spot. One such project is Aptos (APT), which launched on the main network just three weeks ago.

As a descendant of the big tech world, namely Meta/Facebook, Aptos has great potential for development and partnerships with similar companies. As an example, a recent partnership with Google Cloud has already taken place at Aptos, funnily enough, a few weeks after similar news related to Solana.

Binance Labs, Multicoin Capital and Circle are on the list of funds that have invested in Aptos, according to CryptoRank. However, FTX Ventures and Jump Crypto are also featured there.

Aptos (APT) Is in 23% Recovery Following General Cryptocurrency Market Recovery

Aptos (APT) price action

Aptos remains a "young" blockchain, as its metrics eloquently demonstrate. In terms of price, however, APT, Aptos' native token, seems more poised for imminent advances.

APT to USD by CoinMarketCap

At the current APT price of $4, the project has a market capitalization of just over $500 million, made possible by an extremely limited supply of 13% of the existing APTs. Thanks to this factor, APT was spared from falling too much as a result of the FTX collapse, even though its affiliates were involved in the capital formation of the project.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.