Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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) 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.
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.