Proof-of-Stake L1 Blockchain Token Aptos Climbs Close to 20% Higher in 24 Hours – Altcoins Bitcoin News

by Arthur · October 22, 2022

Proof-of-Stake L1 Blockchain Token Aptos Climbs Close to 20% Higher in 24 Hours

Five days ago, the Aptos blockchain went live after the project received an influx of capital from venture capital (VC) firms and crypto exchanges such as a16z, Binance and FTX. In the last 24 hours, aptos (APT) is up more than 19% against the US dollar and up 11.1% against the value of bitcoin. The VC-backed blockchain token has managed to place itself within the 60 largest crypto market capitalizations in existence.

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Apto’s market cap rises above $1 billion, APT transactions per second increase from 4 to 16

A new token has entered the top 100 crypto market capitalizations after Aptos Labs developers announced the project’s mainnet launch on Monday, October 17, 2022. Prior to the mainnet launch, the layer one (L1) blockchain project has been backed by millions of tribes from VC firms and crypto exchanges such as Multicoin Capital, Binance, FTX and Andreessen Horowitz (a16z).

The co-founders of Aptos Labs, Mo Shaikh and Avery Ching, worked for Facebook (now Meta) on the now defunct Diem blockchain project. After the mainnet went live, Aptos took a lot of flak from the crypto community, as the blockchain dubbed a “Solana killer” was immediately criticized upon launch.

An engineer from Paradigm stressed in a tweet that “Aptos is broken” and further noted that “Aptos is currently having lower [transactions per second (TPS)] than Bitcoin and a majority of tokens are either staked or ready to be dumped on retail investors.” At the time, the Paradigm engineer said that Aptos handled 4 TPS, but promised 100,000 transactions per second (TPS) in its final version.

Aptos Network Explorer October 22, 2022.

At the time of writing, Aptos registers around 16.68 TPS and 8,188,514 APT transactions have been completed to date. The current 16 TPS tracked by the Aptos explorer is faster than Bitcoin’s 2.87 TPS recorded on October 22.

Meanwhile, the Aptos blockchain is very new and its native token APT has managed to place itself in the top 60 rankings in terms of market capitalization. Currently, aptos (APT) is ranked 52 out of more than 13,000 listed cryptocurrency projects today.

APT/USDT Chart Saturday October 22, 2022.

APT has a circulating supply of around 130,000,000 tokens and its total supply could reach 1,000,935,772 APT tokens. As of Saturday October 22nd, APT has seen $322.34 million in global trading volume and its market capitalization today is just over a billion at approximately $1,060,489,188.

Market statistics show that the APT token has traded for prices between $7.24 today up to $8.65 per unit. The Aptos blockchain currency is up more than 20% from its low recorded three days ago at $6.73 per coin.

Huobi Global is currently the most active exchange on Saturday, and Huobi is followed by Binance, Okex and Digifinex respectively. Tether (USDT) is the most active trading pair with APT today, and USDT pairs are followed by BUSD, USD and BTC.

Tags in this story

Altcoins, Andreessen Horowitz (A16z), APT, APT tokens, aptos, aptos (APT), Aptos Blockchain, Aptos L1, Aptos Labs, Avery Ching, Blockchain, Coinbase Ventures, DeFi, FTX Ventures, Huobi Global, L1 Blockchain, Layer – One, Market Capitalization, Mo Shaikh, Multicoin Capital, nft, parallel processing, programming language Move, Smart Contract, trading, Web3

What do you think about the market performance aptos (APT) has seen in the last four days? Let us know your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.