• Aptos (APT) has surged more than 400% over the last month, thanks to its growing list of partnerships and product launches.
• Aptos is a layer-1, proof-of-stake blockchain with a parallel execution mechanism which helps in reducing latency and generating faster transaction speeds compared to Solana (SOL).
• The chain’s NFT collections and DeFi spaces have also seen growth recently, with its total volume locked increasing by 4% over the past seven days.
Aptos’s Rapid Growth
Aptos [APT] has made the crypto world sit up and take notice, as it soared by more than 400% over the last month. This growth is driven by its growing list of partnerships and product launches, such as wrapping up the first leg of its ambitious world hackathon tour in Seoul. Furthermore, it expanded its footprints in the web 3 gaming ecosystem as well with an upcoming launch of ‚Pixelcraft‘ on the Aptos network through an official title reveal video.
Aptos Challenges Solana
The next question on everyone’s mind would be whether all of this hype is enough to dethrone Solana [SOL] against which APT has been consistently positioned. Realistic or not, here’s APT’s market cap in BTC’s terms: Aptos has a clear advantage when it comes to speed – it can process 150,000 transactions per second compared to 65,000 from Solana. Additionally, there have been several network outages for SOL in 2022 that could work in favour of APT.
NFTs & DeFi Spaces Showing Promise
Aptos’s total volume locked (TVL), while considerably less than Solana’s TVL, still shows promise with better growth of late – increasing by almost 4% in the same time period that SOL only grew 0.44%. most of this is powered by Pancakeswap [CAKE], which had a dominance of almost 60%. Additionally, its NFT trade volume on the network reached its three-month high recently solidifying APT’s presence within this burgeoning sector.
Conclusion
All things considered ,there appears to be potential for Aptos [APT] now that it has established itself as a legitimate contender for dethroning Solana [SOL]. With faster transaction speeds advantages plus strong presence within both DeFi & NFT spaces – anything could happen!
Disclaimer
It goes without saying that investments into any cryptocurrency always carry risk – please do your own research before investing!