• The Aptos price has risen by 37% within the past 24 hours, with an increase of 141% in a week and 400% in the last 30 days.
• Some observers have declared that Aptos has begun “flipping” its older rival Solana, making it the biggest layer-one network in the cryptocurrency ecosystem after Ethereum and BNB Chain.
• However, Aptos still has a long way to go to match the utility of more established chains.
The Aptos price has seen a remarkable surge in the past 24 hours, with the layer-one cryptocurrency rising by as much as 37%, bringing its total increase to 141% in a week and 400% in the last 30 days. With its fully diluted valuation exceeding that of Solana, some observers have been declaring that the newer project has already begun “flipping” its older rival, and is now looking to become the biggest layer-one network in the cryptocurrency ecosystem after Ethereum and BNB Chain.
At the time of writing, Aptos is trading at $18.44, and is continuing to gain momentum with its 30-day moving average (red) shooting well above its 200-day average (blue). This is further indicated by its relative strength index (purple) surging to 80 in recent days. These signs suggest that Aptos is enjoying a big breakout at the moment, and may not be showing signs of slowing down anytime soon.
The mainnet of Aptos was launched in October, and is already gaining traction with a small but growing number of projects building on top of it, such as PancakeSwap which is its biggest dapp. The project has a lot of potential, and is backed by venture capital and a Facebook-related pedigree. However, despite its impressive gains, Aptos still has a long way to go before the utility it offers rivals those of bigger, more established chains.
As Aptos continues to gain more traction, it will be interesting to see how it performs over the coming months, and whether it will be able to reach the heights of other layer-one networks. In the meantime, investors should be aware of the risks involved in investing in such a new project, and should always do their own research before making any decisions.