Aptos ($APT) is constantly being strongly appreciated by the online community and especially Vietnamese investors, Fomo, when listing information on major exchanges such as Binance, FTX or Bybit. Supposed to be a blockbuster after the mainnet launch, however, Aptos is constantly surrounded by FUD as it nears the list date. Let's find out with Holdstation what scenario for APT when listing the floor on October 19.
Overview of Aptos
Aptos is a Layer 1 blockchain that is very hot in the community recently. The project inherits the strong team and technology from Facebook's Diem Blockchain. Not only that, Aptos has raised more than 350 million USD from many "big guys" in the industry such as a16z, Multicoin, Coinbase Ventures, FTX, ... and recently joined Binance.
Token name: Aptos Token
Blockchain: Aptos Blockchain
Token Type: Utilities & Administration
Total Supply: 1,000,791,698.2 APT
Staked $APT: 821,163.845.7 APT
51.02% for the community
19% to key contributors
16.50% for the platform
13.48% for funds and investors
In the community tokens, 25.5% ($130 million APT) will be unlocked for the platform, projects, and community. The remainder will be distributed monthly for the next 10 years.
Many controversial issues when the date of the floor list approaches
Slow transaction processing system.
According to the development team, Aptos is focused on scalability and blockchain enhancement to reach over 100,000 transactions per second however at the time of writing, Aptos TPS records only 4 transactions per second.
Therefore, when standing next to other layer 1 like Ethereum, Solana, Aptos is somewhat at a loss.
However, TPS of Aptos may only be the number of transactions/second at the moment, since Aptos has just launched on the mainnet. Perhaps it will have to wait until dApps on Aptos are really active and have a certain number of users to be able to evaluate the real TPS of Aptos.
Aptos Discord closed chat
At the time of writing, the Aptos Discord channel has closed chat and users cannot chat. Some chat channels have been reopened, but important channels are still locked. This can be understood as a way to protect investors and prevent scams that may threaten users.
⇒ However, turning off Aptos' Discord channel still causes a lot of confusion for investors.
Is Aptos Overvalued?
Aptos is currently valued at $4 billion and likely even higher.
This is a much higher valuation than the other Layer 1s at launch. Perhaps due to the development of dApps on this ecosystem that combines scalability and the Move language, Aptos has attracted many large investors.
To assess whether Aptos is being overvalued, investors still need to wait and see if after the mainnet launch, Aptos can fulfill its stated goals.
80% of the total supply of $APT is controlled by investors and the team.
Currently the amount of $APT staked is about 821,000,000 APT (80% of total supply) controlled by the team and major investors. This can lead to token inflation and burn speed.
⇒ After a while, token inflation combined with investor unlocking will likely lead to a sharp slide in $APT.
Predict the Aptos scenario ($APT) when the floor list
According to Aptos token allocation, $APT will not unlock all investors right away. $APT's ability to discharge and plummet will be less.
However, if $APT is pumped and increased sharply right after the exchange listing, it is highly likely that right after the fomo pumps, $APT will start to drop sharply. Besides, 20% of the total supply may be on the market and ready to be released when Binance and FTX list go on the exchange.
The price of Aptos is likely to drop until all user questions are resolved.
Although FUD around Aptos is quite a lot, especially the news about TPS makes investors doubt about the processing speed of Aptos. However, Aptos is still a highly appreciated Layer 1 project, in the long-term, there is still a lot of development potential, especially a high-quality backer that is heavily invested with high technology and trusted by the community.
Major exchanges like Binance, FTX… have the same list in one day, this can cause a large supply shock and fomo leading to a rapid price push as well as the possibility of a quick drop after the pump. Investors should have a thorough evaluation before buying, especially when the exchanges simultaneously list this token.
*This is a personal opinion and not investment advice.