Aptos Token Price Prediction: Is APT a Risk or an Opportunity?

Source: Aptos

The price of Aptos (APT) fell heavily on its first listing day, as expected by many analysts as well as most crypto traders on Twitter.

The Aptos token is a major project that is described as the future replacement for the Solana blockchain or even Ethereum. It generated a lot of reaction today because of its characteristics, but we also note the beginning of controversy which agitates the networks following a potential risk of dumping by investment firms.

Back to the characteristics of the Aptos project

Aptos is a blockchain of Layer 1. In addition, it is a cryptocurrency that uses a system Proof of Stake (POS) in the same way as the Ethereum blockchain. Aptos displays high transaction speed as well as a high number of transactions per second, and aims to become a leader that would be able to support the transition of companies present on the traditional web to the Web3.

Aptos was founded by Mo Shaikh, a former employee of Meta, who is now the general manager of the APT ecosystem. This is not the latter’s first crypto project since he was a member of the team that worked on the Diem blockchain, formerly known as Librahowever this was canceled after some time.

In terms of tokenomics, the total supply is one billion tokens. Of this billion, 51% are available to the community, 19% are intended for selected contributors and 16.5% will be collected by the team at the head of the platform. Additionally, large investors who joined the project at an early stage will enjoy 13.48% of the tokens.

Aptos Token Price Prediction Is APT a Risk or an
Source: Web_3space

The excitement floating around Aptos is likely tied, at least in part, to Meta’s Libra project which never saw the light of day, as there were a number of comments on the networks stating that the technologies used for this canceled project were finally used for the Aptos blockchain.

The APT was listed at 01:00 UTC on many exchanges like Binance, Coinbase, FTX, Huobi, OKX and many more. The initial pump of his listing drove the price up to $100 on Binance and 17 dollars on the other platforms, but its price fell very quickly before gravitating around 6 and 7 dollars.

It quickly ranked among the trending cryptocurrencies and according to data from the CoinMarketCap site, more than 15,000 people added the APT to their watchlist when it was just added to the site.

Aptos Price Prediction

The total market capitalization of the Aptos token is currently $7 billion with a price currently moving around $7.73 and ranks in 51st place of the crypto ecosystem, again according to data from CoinMarketCap. The volume over the past 24 hours is quite significant at $1.58 billion.

1666580126 72 Aptos Token Price Prediction Is APT a Risk or an
Source: Trading View

Some fairly reputable accounts in the crypto sphere on Twitter consider the Aptos to be overvalued, this includes @kobratrading which has over 20,000 followers and said the APT token is akin to a ponzi.

This user is far from the only one to make similar remarks. Yesterday @cobie who is one of the most reputable crypto influencers with his 743,000 subscribers, and the host of the UpOnly podcast, criticized the Binance and FTX exchanges for allowing the listing of Aptos when this cryptocurrency is not offers little transparency on its tokenomics according to him.

It should nevertheless be noted that despite these criticisms, the Aptos blockchain has been able to attract investment heavyweights such as firms Jump Capital or a16z, and this by raising more than 150 million dollars. And this is precisely a point that arouses suspicion since at present many Twitter users are of the opinion that investment firms will proceed to dump their APT tokens on retail investors.

Due to the novelty of this cryptocurrency, it is currently quite difficult to accurately estimate the evolution of its price. But according to the data of the site CoinArbitrageBot the APT will suffer a drop by November and the latter will be below the 7 dollar mark. But a rise is envisaged for 2023 with a price estimated at 9.70 dollars. Of course, before investing in the crypto ecosystem it is essential to do your own research and explore the latest trends as well as the technical documents available.

We want to thank the author of this post for this incredible web content

Aptos Token Price Prediction: Is APT a Risk or an Opportunity?

Check out our social media profiles as well as other pages related to themhttps://metfabtech.com/related-pages/