After a very successful weekend for the layer-one token, the price of Aptos has decreased by 2% in the previous 24 hours, falling to $13.12 today. This comes after the weekend was highly successful. Its current price indicates a solid gain of 61% in a week and an astounding gain of 250% in the last 30 days, which makes APT the best-performing top-100 coin over these periods due to its price.
Despite the fact that APT’s performance has been exceptional over the course of the past several weeks, there is still a possibility that it will not end up being one of the tokens with the best performance this year. This honour may be bestowed upon any one of a number of brand-new cryptocurrencies, each of which is in the process of conducting its own presale and each of which, on the basis of its solid fundamentals, is poised to experience massive gains once it is finally listed.
Aptos Price Explodes
The information given by APT shows how much of a foothold the new altcoin has gained in the last few weeks. The fact that APT’s 30-day moving average (shown in red) has ultimately passed its 200-day moving average (shown in blue) is another sign that the stock has had a significant breakout rally.
Its 30-day average is high enough to drop, which is positive. Its relative strength index (in purple) has gone down steadily from 90 to 50, and it could go down even more.
No matter when APT’s inevitable fall will happen, it is still a strong altcoin in terms of how it works. It started out as Meta’s failed digital currency project (it uses the same programming language, Move), and it reached its all-time high of $13.73 in October 2022.
Many investors are betting on the project’s long-term success because of its history and because Aptos has raised 100 million dollars in venture capital. In theory, the Move language makes Aptos very scalable, but it has yet to be used or adopted significantly.
Some people have even questioned whether it is all it says. For example, its creators say it can handle 100,000 transactions per second, but at its launch, there were only about four tps, and that number went up to 27 tps in the days after. This is far from the 100,000 transactions per second that its creators say it can handle.
People have said that APT’s token distribution is too centralized, which could be even worse. 80% of its total supply of 1 billion tokens has already been staked. This means that most of the tokens come from a broader community of users.
02 Feb 2023
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