Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
The price of Aptos (APT) has fallen by 1% in the past 24 hours, dipping to $9.11. This represents a 33% decline for the new altcoin in the past week, at a time when improved investor sentiment has resulted in gains for the rest of the market.
The wider cryptocurrency market has rallied in the past day, with positive earnings reports and expectations of a more dovish Federal Reserve (vis-à-vis rate hikes) buoying the prices for bitcoin (BTC), ethereum (ETH), Cardano (ADA), and other major coins. However, this uptick in positivity hasn’t been extended to APT, which has failed to build much momentum following its launch, which was undermined by reports of slow transactions and centralized tokenomics.
And given its association with Meta/Facebook, investors may want to look elsewhere for newer altcoins that potentially promise better-than-average gains. Fortunately, there are a variety of fundamentally sound coins that are running their presales right now, all of which hold out hope of big returns for early investors.
Aptos Price Dump Incoming
Aptos’ price chart reveals that, following a big dump upon its launch, it has struggled to recover its former heights. Its record high remains $13.73 (set on October 19), while its current price represents a 33.6% decline relative to this high.
To be fair, if you disregard the dump and focus on the all-time low of $6.73, APT is currently 35% up. Few other coins in the top 100 (by market cap) have recorded a similar gain within the same timeframe.
That said, Aptos remains a controversial cryptocurrency, and for various reasons.
First of all, it was launched with the claim that it could handle over 100,000 transactions per second. In reality, its launch witnessed around four tps, and in recent days it has managed 27 tps, which…
