- Aptos grabs the limelight from Ethereum and Solana by rallying more than 130% in a week’s time.
- In months of launch, Aptos’ native token APT has received support from some of the popular wallets and crypto exchanges in the market.
Altcoins are having a great time amid the recent crypto market bounceback earlier this week. While Ethereum (ETH) clocks a strong 18% gain on the weekly chart, Solana (SOL) is up by a staggering 46 percent over the last seven days.
However, one altcoin that has outperformed both ETH and SOL is Aptos (APT) which is up by a massive 109% on the weekly chart. Besides, the Aptos altcoin project is a rival smart contract platform to both Ethereum and Solana.
As of press time, the APT token is currently trading at a price of $8.07 and a market cap of $1.049 billion. The Aptos blockchain network uses a programming language dubbed Move, initially developed by Meta’s now-abandoned crypto project Diem.
Created by Diem’s former executives, Aptos seeks to further Diem’s original goal of creating a fast and scalable blockchain that is accessible to the masses. As said earlier, the APT rally comes amid the overall bounce in the crypto space. On the other hand, the Aptos ecosystem is also buzzing with several projects and milestones popping up.
Furthermore, the Aptos blockchain came into the limelight as the Solana network faced major trouble following the collapse of the crypto exchange FTX. The launch of Aptos came just around that time making it easier to gain early traction.
With the launch of Aptos, even the NFT traders started moving away from Solana and moving to Aptos. Topaz, the NFT marketplace of Aptos, had garnered millions of dollars within weeks of its launch. APT, the native token of Aptos is available for trading at some of the popular cryptocurrency exchanges such as Binance, Digifinex, and Coinbase Exchange.
Growing Support for Aptos’ APT Tokens
APT, the native cryptocurrency of Aptos is seeing growing support within a few months of its launch. Atomic Wallet, a self-hosted crypto wallet having 3 million customers worldwide, recently announced support for APT token holders.
Similarly, Flow, a blockchain network created by developers of Ethereum-based CryptoKitties implemented the coding protocol Jolteon, created by the executives of Aptos. Before the beginning of 2023, Aptos cofounder and CEO Mo Shaikh said that this year will bring significant development to the Solana rival. He added:
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There’s some really cool DeFi stuff that’s going to be coming live soon that takes advantage of not only things like Move, but also parallel transaction processing. So, you know, central limit order books, AMMs (automated market makers), DEXes (decentralized exchanges) – all of these things will be really cool things to keep an eye on Aptos. That’ll be step changes in innovation relative to everything that we’ve seen in the previous generation of blockchain. So we’re looking forward to all of that.
