On the 19th of October 2022, Aptos crypto launched with a lot of enthusiasm and promise. However, the turbulent market caused panic in the crypto scene. Is Aptos crypto worthy of an investment? What is Aptos Crypto? Let’s go over Aptos as a project and look into what happened during the first trading sessions. Will Aptos crash to 0 $?
What is Aptos Crypto?
Aptos crypto is a blockchain that uses the PoS mechanism. It is a Layer 1 network, which aims to create the most secure and scalable blockchain possible. The Move programming language and the Move VM, which were developed and optimized for blockchain use cases, are utilized by the Aptos blockchain for application development. The team is made up of Diem’s initial developers, researchers, designers, and builders. Diem was the first blockchain created with this objective in mind.
What does Aptos Provide?
The Aptos ecosystem provides 3 main services:
- Aptos Names: own a domain name that ends with .apt
- Aptos Transaction validator: Pretty much like Etherscan, a block explorer and analytics for APT transactions
- Petra Wallet: A decentralized wallet that helps you manage your APT tokens
What happened to Aptos Launch?
The Aptos token launched with a price of around $14. However, during its first trading sessions, its prices sank all the way to reach its bottom price of $6.73. The main cause of this dump comes back to fundamental issues upon any first listing of a token. or asset. Investors who already invested in this project have their funds locked up and look for the very first opportunity to liquidate. The first listing is the perfect opportunity for old investors to liquidate their locked-up funds. The risk will in turn switch to the new buyers.
The other reason for this 52% decrease in prices is the fact that the company did not fully disclose its tokenomics at launch. Many crypto traders saw this negative fact as an opportunity to short-sell APT, causing prices to dip further.
How Many APT Tokens are there?
As per the company, there is a total of 1 Billion APT tokens.
Aptos Airdrop – How to Claim APT tokens?
Aptos Foundation declared on October 18 that it has given free APT tokens to members of its early network. According to the firm, airdrops of 20 million APT tokens were given to about 110,235 qualified individuals. The foundation said that it had distributed about 110,235 qualified participants with an estimated 20 million APT tokens, or 2% of its initial total supply of 1 billion APT. Based on the token’s market price at the time of the airdrop, the airdropped tokens were worth between $200 and 260 million USD.
The blockchain business claims that two groups of people qualified for the airdropped tokens: “Users who submitted an application for an Aptos Incentivized Testnet” and “Users who minted an APTOS: ZERO testnet.”
The firm said that more information was included in the eligibility email that was sent out by the company, and that Aptos tokens could only be claimed via the official Aptos Community website. To prevent being scammed, they advised people to take great caution and to only rely on official sources and channels.
Aptos Price Prediction – Will Aptos crash to 0 $?
If the project fails to pick up and turns out to be a big cash wash, Aptos crash to 0 $ is inevitable. However, this is not the case. Despite having ex-employees from the failed Diem project, Aptos is offering good services. If it manages to steadily prove that its services are of good use in the coming few months, its prices are expected to recover towards its listing prices.
An Aptos crash to 0 $ means that the project has no use anymore, and no one believes in the project. For now, this is unlikely as we remain to see what comes next for this project, along with its use cases of “independent high-performance PoS Layer 1 with safety in mind”.
How to Buy Aptos?
The APT token may be purchased currently on several exchanges. Here is a list that CryptoTicker suggests, taking into account the largest:
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Source: https://cryptoticker.io/en/will-aptos-crash-to-0-aptos-crypto-review/