Home » NFT traders move away from Solana to APT since mainnet launch

NFT traders move away from Solana to APT since mainnet launch

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  • APT Token is primarily benefiting from Aptos Labs. Aptos Labs is committed to building products and apps on the former blockchain.
  • While most social media have referred to Aptos as the “Solana Killer,” the latter gained popularity by marketing it as the “Ethereum Killer.”

Aptos Network, an independent high-performance PoS L1 project that leverages the Move programming language and Move VM for application development, has gained momentum over its competitors, including Solana (SOL), in recent days. Developed by engineers from Diem, DiemBFTv4, Narwhal & Tusk, BullShark, Block-STM, and Novi.

As a result, the Aptos network has attracted significant funding from institutional and individual investors.His mid-July of this year, the Aptos ecosystem announced $150 million funding round led by FTX Ventures and Jump Crypto.

Notably, the funding round also included new investments from Apollo, Griffin Gaming Partners, Franklin Templeton and Circle Ventures.

According to statistics provided by Coinmarketcap, the Aptos protocol is trending these days. As such, APT token, the native token of the Aptos network, has increased by 27% in the last seven days.

As of 10:17 AM UTC, the Aptos APT token is trading at $9.26, up 2% over the past 24 hours. it’s wThe Aptos network has a market capitalization of $1,208,809,687 and a trading volume of about $433,305,661 in the last 24 hours.

APT tokens are mainly aptos labworking to build products and apps on the former blockchain.

Since the project’s inception, we have made great strides in listing on popular cryptocurrency exchanges. Currently, Aptos tokens can be traded on Binance, Digifinex, and Coinbase Exchange.

Aptos Network and Market Outlook

On most social media, Aptos has been referred to as the “Solana Killer,” although the latter gained popularity by marketing it as the “Ethereum Killer.” For example, his Topaz, the Aptos NFT marketplace, has raised $5.46 million since its debut on Oct. 18. His top-selling NFT has a trading volume of over $2.3 million. Meanwhile, the best-selling NFT collection on OpenSea right now is CryptoPunks, generating around $800,000 in the last 24 hours.

According to Topaz’s pseudonymous founder 0xclickbait, trading volume on the NFT marketplace is doubling essentially every day.

Meanwhile, Solana NFT trading volume has fallen by more than 33% over the past 30 days. Nonetheless, some market strategists believe his NFT activity on the Solana network is on hiatus and the moon is coming soon.

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The Aptos network is well-prepared to compete with major Layer 1 blockchains such as Ethereum’s Beacon Chain and Binance Smart Chain. Additionally, the network is well-funded, has experienced developers, and likely has regulatory backing.

Meanwhile, Solana (SOL) is trading at $31.51, down 84% over the past year. The SOL network has a market capitalization of $11,353,841,717 and a 24-hour trading volume of $1,196,725,657.

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