Did you know that in just 90 seconds, Aptos can mint one million NFTs? For this reason, a lot of insiders depict Aptos as a Solana killer. You know, a lot of discussion on layer 1 protocols like Ethereum, Solana, the BNB chain, Avalanche, and many others took place in 2022. Non-fungible coins' explosive growth showed that most blockchains couldn't support the demand that comes with widespread use.
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SOLANA vs APTOS
In order to see the transition of conventional institutions to the blockchain, we are awaiting the complete implementation of web 3. Prior to Ethereum switching to proof of stake, transaction costs were unthinkably high and the network was frequently congested. However, Solana had her share of problems.
The network went through several disruptions that rendered it completely unusable, despite being marketed as a high capacity chain that could process thousands of transactions per second. The Aptos blockchain, which many refer to as the Solana killer, was the next big thing. A team of more than 350 developers has been working on Aptos for more than three years, and it is marketed as a scalable, secure, dependable, and upgradeable network.
The venture capital firm Andresen Horovitch led a $200 million seed round that Aptos raised in March 2022. The fundraising round included participation from other prominent cryptocurrency firms, such as Multicoin Capital and Tiger Global. Let's fast-forward to July.
Animoca, Jump Crypto, Dragonfly, Apollo Global, Franklin Templeton, and many more participated in a series A round that raised a further $200 million for the firm. We'll catch up on Aptos today, discuss some recent developments, and examine some price predictions for 2025–2030.
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APT Price Overview
The live APT price today traded at $9.74 and the current coin market cap ranking is number 22 with a market cap of almost 3 billion trading at 61% below its all-time high which was recorded on January the 30th, 2023.
So what makes Aptos unique?
Well you see in less than two years since mainnet launch Aptos has become the blockchain of choice for builders and users alike. And the reason is that Aptos is a secure, scalable and feature-rich layer 1 blockchain.
Aptos delivers the best performance, highest throughput and lowest latency to support builders wanting to bring their next generation use cases to life. Plus as the first blockchain to utilize the move programming language Aptos offers a key advantage for builders with a dead simple developer environment.
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5 reasons why builders among the globe are choosing Aptos.
1. High performance and cost efficiency
The first reason is high performance and cost efficiency. You see Aptos combines low latency, high throughput, low gas fees and sub-second finality offering an ideal environment for developers seeking speed and efficiency. Projects like SushiSwap point out that exactly these qualities or let's say characteristics are among the reasons why chose Aptos over other networks.
The network's ability to mint 1 million NFTs in just 90 seconds demonstrates its exceptional throughput while the average transaction cost of approximately 0.000004 APT ensures cost effectiveness.
2. Developer-friendly environment with move.
Now Aptos native programming language move is a key advantage for builders. Not only is it easy to get started with move thanks to Aptos dev documents but move also provides builders with a secure efficient and developer-friendly environment to simplify the process of building and integrating new products and use cases on Aptos. Move was independently developed by Meta formerly Facebook's dm blockchain engineers.
3. Technical innovations.
You see advanced features such as formal verification native and secure randomness API and block STM which is a parallel execution engine for smart contracts set Aptos apart from other blockchains while enhancing the network scalability and performance.
The Aptos team claims that its network can process over 150 000 transactions per second through parallel execution. By comparison Ethereum's mainnet TPS is around 12 to 15.
Now I do not want to speak bad about Ethereum because I still believe that that is the foundation of the future of finance.
4. Cost effectiveness and security
You see builders they appreciate Aptos for its cost effectiveness and robust security which makes it a reliable choice for various applications from high volume NFT trading gaming DeFi protocols and beyond.
Innovations like move prover helps builders verify move smart contracts while providing additional safeguards.
5. Global community support
Fifth and final is the global community support. Arguably one of the biggest reasons as to why builders chose Aptos is that the Aptos ecosystem fosters a vibrant and supportive community comprising developers users and partners actively engaged in building on the Aptos network.
Now beyond this Aptos is revolutionizing web3 adoption with innovations like pass keys which eliminates the need for passwords by enabling touch id or face id login while keyless removes traditional private keys in favor of web2 social sign-ins like google and apple. Now these advancements are critical in transitioning today's 5 billion internet users to the web3 creating an internet-like ease of access across all Aptos apps.
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Aptos On-Chain Metrics and Growth
Now let's look at growth and some on-chain metrics. As of mid-2024 the number of daily active addresses on the Aptos network averaged 180,000 in Q3 2024 marking a 28 percent quarter over quarter increase from second quarter Aptos hit an all-time high of 1.2 million daily active addresses on June 8th 2024.
So in terms of transactions Aptos set a record with 326 million processed in a single day in August 2024 driven by the surge in usage from consumer apps like tapas tap to earn game and this surpassed Solana's peak of 31.7 million transactions and set a new high for layer 1 blockchains which was previously held by sui network at 65 million transactions.
Aptos Latest NEWS
Now let's move on to the latest equally relevant news. Aptos welcomes Brevin Howard, BlackRock and Hamilton tokenized funds by Libra. Libra which is a joint venture between web n group and Nomura's laser digital launched an initiative bringing three high-profile funds to the Aptos platform.
The three funds are now accessible on Aptos and they include Brevin Howard master fund, a leading hedge fund with extensive global reach, Hamilton's lane senior credit opportunities fund which is a private credit fund focused on providing institutional great credit opportunities, BlackRock ICS money market fund one of the world's largest money market funds offering stable liquidity options combined these funds manage over 91 million billion in assets making this launch a landmark event for Aptos.
Libra also serves as the backbone for connecting real world assets like private markets and alternative assets with the blockchain. Its decentralized application the Libra gateway facilitates compliant access to these funds on Aptos and this system enables accredited and institutional investors to trade on chain engage in collateralized lending and access to secondary trading services.
Now Libra's CEO Dr. Avtar Sehra describes the integration of Libra with Aptos as a major step in democratizing access to public blockchain wealth management tools.
APT Price Prediction
And finally let's take a look at some future price predictions and see what the sentiment is like and the first one comes from WalletInvest and they believe we're going to see a high of $10.03 in 2025. The second one comes from TradingBeasts and they're seeing a high in 2025 of $9.00 and the last one comes from DigitalCoin.com and they predict that the price will hit $15.19 in 2025. That's all I got to say about that.