Aptos is the new kid in the block, which was recently launched and already showing signs of being the next big cryptocurrency project. During yesterday’s trading session, Aptos price surged by more than 9 per cent. The strong bearish move was an extension of Saturday’s aggressive move, which resulted in a 20 per cent price surge.
What is Aptos?
As a new cryptocurrency, Aptos has generated a lot of frenzy in the media. Part of the reason for this is its premise of delivering more than 100,000 transactions per second. Many experts have argued that such a high TPS rate will likely challenge well-established projects such as Solana. Aptos has also gained traction due to the team behind the project.
According to reports, the Aptos project development was started as a result of dissatisfied Meta employees who were working on the now-shelved Meta stablecoin Diem leaving the company and starting their own project, Layer 1 blockchain. To many, Aptos is viewed as the technical successor of Meta’s blockchain network Diem.
To put it simply, Aptos is a proof-of-stake layer 1 blockchain project that uses the novel smart contract programing language Move. The project was developed by Aptos Labs, a start-up company that is led by two former Meta employees.
Aptos Price Prediction
The Aptos project has only been in the market for less than a week. However, it has shown signs of becoming a huge project during that time. During the time it has been in existence. The project has climbed to be the 42nd largest cryptocurrency in the world, with a market capitalization of over $1.3 billion. The project has also seen its trading volume going as high as over $200 million a number of times since its launch.
Therefore, my Aptos price prediction expects the current bearish trend to continue for the next few trading sessions. There is a high likelihood we might see Aptos price returning to trading above the $15 price level in the next few trading sessions. Being a new project, dropping below $5 in the coming sessions will spell danger and invalidate my bullish analysis.
APT Daily Chart
