Coin Bureau YouTube channel host Man believes that the 54th-largest crypto asset by market cap is overpriced.
Man tells his 2.16 million YouTube subscribers in a brand new video that “Solana Killer” Aptos (APT) seems to be “grossly overvalued.”
Nonetheless, the basics of the crypto asset that was launched a bit of over every week in the past are interesting, in keeping with the Coin Bureau host.
Whereas noting that pockets addresses aren’t essentially a mirrored image of consumer numbers, Man says that Aptos is having fun with “critical adoption.”
“By way of worth motion, there isn’t a lot I can say about APT simply but as a result of it’s a model new cryptocurrency.
Even so, at first look, Aptos appears grossly overvalued – a market cap of over $1 billion and a totally diluted market cap of over $9 billion.
Upon nearer examination, nonetheless, it does seem like some fundamentals are beginning to kind. In accordance with the Aptos explorer, there are over 1.7 million pockets addresses…
To place issues into perspective, Cardano has round 2.3 million pockets addresses, in keeping with the AdaStat explorer.
Because of this Aptos is on monitor to surpass Cardano by variety of customers inside two weeks of launch. Cardano’s mainnet went dwell over 5 years in the past. That’s some critical adoption.”
Aptos is buying and selling at $8.10 at time of writing, down by a bit of over 40% from its all-time excessive of $13.73 reached on October nineteenth.
Man additionally says that Aptos has the technical capability to realize its bold roadmap within the coming weeks and months.
“Aptos has a lot of milestones forward of it…
The ‘too lengthy; didn’t learn’ is that Aptos desires to scale to assist billions of customers and each use case you may consider, similar to each different new crypto. The distinction is that Aptos really has the tech to do it.”
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