Aptos Price Prediction for November – Is APT a Good Investment?

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Aptos sports itself as a layer-1 solution that launched in late October with a bang. With the developers making many tall claims about what this new cryptocurrency could mean, it gathered a following easily. However, this project can’t keep up the steam since then. While many thought it would be one of the best cryptocurrencies to buy, the price chart shows us a different sight. Can we make a positive Aptos price prediction based on these details? 

Aptos Blockhain’s Founder Arco Protocol Has Gone Dark

Cross-chain decentralized finance platform Arco Protocol launched Aptos blockchain with much fanfare. Twitter was always talking about it, and from what we can see, many were discussing this latest layer-1 solution on Coinmarketcap. 

However, the intention to raise funds in its initial dex offering went awry when over 300 people deposited to the IDO simultaneously. It led to network congestion (or so the developer claim), leading to a less-than-stellar token start in November 2022. 

Soon after, Arco took to Twitter asking the community if they should return the funds or offer the project to the community, to which the community requested their funds returned. 

However, the platform shortly went dark after declaring that the Celer Network and the Wormhole had decided to cancel their partnership. 

Aptos Price Prediction: Technical Analysis

After witnessing a major upswing during the launch and painting a long green candle, Aptos’ performance in the price chart has been abysmal. While the support at $7.3 still holds, it can go away any minute. Since the token is fairly recent, it is trading close to its daily moving average. However, that too can change any movement as the latest price action shows a long red candle forming. 

At the time of writing, the Aptos price has been dealt heavy damage, and the price has fallen from 4.56%. It is trading at only $7.67. 

The reason for this abysmal price action is a combination of false promises, centralization, and tokenomics that doesn’t make sense. 

Is Aptos a Good Investment?

Aptos is a layer-1 blockchain that claims to be the most production ready in the blockchain space. But as we have seen from its disastrous launch, that is hardly the case. So, is it a good investment? The simple answer is no. But let us be more clear as to why.

Transaction Speeds are Nothing to Write Home About

Over 100,000 transactions per second – the Aptos promise attracted so many to its offerings. Many claim the same transaction speeds, but those depend upon conducive network conditions and the internal architecture of the blockchain. Aptos claimed, however, that it can provide the same rates throughout. 

But as it turned out on launch, these numbers were completely fictitious. Investors found that the numbers weren’t just misleading but completely false by a whopping 99.996%.

Aptos blockchain can’t complete more than four transactions per second. 

People were not happy about it, but some are still taking a dose of copium – they still believe Aptos could turn things around. 

A Centralized Blockchain

It is hard to get excited about a cryptocurrency that uses centralization as its USP. Decentralization removes a single point of failure, which is why investors trust it. Secondly, decentralization lets the community be a part of the ecosystem – giving them a voice that decides the course of a project’s development. 

Aptos is far from being decentralized. Created by two Facebook employees that oversaw the development of Diem – the digital currency powered by Facebook – decentralization wasn’t even part of the equation for these developers. And the VCs backing the project wanted to make the project more stable by giving the reins of control to a select few – not a good sign for a cryptocurrency trying to fall under the good graces of the community. 

Aptos Tokenomics: 80% goes to the Aptos Team

Whenever there is a cryptocurrency project whose tokenomics suggest that most of the tokens are delegated to the team, it is time to look the other way. Such projects have always been a part of pump-and-dump schemes leaving early investors – and latecomers – hanging out to dry. 

Not only that, when we came across on CoinMarketCap that Aptos is listed by Binance and FTX, we were elated, considering these are major league crypto exchanges with a great following. It was later revealed that both were early-stage investors in Aptos. 

For a project to be listed on such exchanges and then under-delivering is something that the crypto community can’t just stand.

Better Altcoins to Invest In

Many better altcoins in the market have entered the space as a presale and continue gaining the crypto community’s interest. Not only do these crypto assets give investors early-mover opportunities, but the utilities of these cryptocurrencies also make them a great long-term investment. 

Dash 2 Trade

Dash 2 Trade is a cryptocurrency trade analytics platform powered by D2T. This cryptocurrency will be used as a way to pay subscription fees to the platform in return for access to robust trading and analytics features for crypto trading. 

IMPT

IMPT is a green cryptocurrency that aims to revolutionize carbon credits trading. It is an inclusive platform that allows ordinary traders to become part of the carbon-offsetting economy and reward them. 

Calvaria

Calvaria is P2E crypto powering a battle-card game. An inclusive crypto game, Calvaria is open to even the non-crypto player. It is currently undergoing the third phase of its presale. 

Aptos’ Future Remains Uncertain

The crypto crowd is not too fond of what Aptos has to offer. The tokenomics is shady, the transaction speeds are false, and the ecosystem is too centralized. As we move towards a DeFi economy, it is time to focus on cryptocurrencies that focus on a decentralized approach to the crypto space. That is why a better option is choosing presale cryptos and moving in early. 

Dash 2 Trade – High Potential Presale

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Source: https://insidebitcoins.com/news/aptos-price-prediction-for-november-is-apt-a-good-investment