New Crypto Aptos (APT) Launches Big, but Can It Sustain the Hype?
Most new cryptocurrency coins appear on the market charts buried way down the list of rankings. That hasn’t been true of Aptos (APT), a buzzy new coin that debuted on Tuesday and is already ranked #54 overall.
How Was the Aptos Launch?
Aptos launched with an impressive $8.54 (APT/USD) price, and the rate today is at $7.23. This is a layer 1 blockchain coin that hit a lot of major crypto trading platforms at once from the start, which helped propel it so high so quickly in the overall rankings.
The first hour of trading saw a drop of about 30% for the coin, which was disappointing for the creators but not unexpected for a new crypto coin.
Aptos started out as an evolution of the Facebook Meta technology and a way to have parallel transactions verified at the same time. This process known as parallel execution is highly controversial, and it has stirred up a sea of hype and confusion around Aptos.
Is Aptos a Good Investment?
The launch was a major one for a new crypto, but the price has fallen significantly from where it began. The initial drop was softened by a partial rebound, but the coin is still down today 6.26% from yesterday. That’s one of the largest drops on the market right now, and the overall crypt market is relatively calm this morning.
Aptos’ trade volume is down 52% from yesterday, showing massive slowdown and a loss of consumer interest that could be incredibly damaging over the next week or two. The trade volume is at $715 million over the last 24 hours, though, so there is still a lot of activity happening with this coin. The current investors could help push it back up or at least sustain it for the near future.
It is very hard to say how Aptos will do over the next couple weeks. It is obvious that a lot of the hype has been lost at this point, but that could quickly change since the coin is still new and fresh.
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