Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Reading: Aptos Price Tumble by 50% Following Controversial Tokenomics
Share
  • bitcoinBitcoin(BTC)$28,099.00
  • ethereumEthereum(ETH)$1,806.76
  • tetherTether(USDT)$1.00
  • binancecoinBNB(BNB)$316.58
  • usd-coinUSD Coin(USDC)$1.00
  • rippleXRP(XRP)$0.53
  • cardanoCardano(ADA)$0.395351
  • staked-etherLido Staked Ether(STETH)$1,800.07
  • dogecoinDogecoin(DOGE)$0.076146
  • matic-networkPolygon(MATIC)$1.09
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
  • Services
  • Know Us
Search
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > News > Aptos Price Tumble by 50% Following Controversial Tokenomics
News

Aptos Price Tumble by 50% Following Controversial Tokenomics

Jim Haastrup
Last updated: 2023/03/14 at 1:23 PM
Jim Haastrup Published October 19, 2022 March 14, 2023
Share
VOC, Voice of Crypto, APT

The Aptos token was launched at a buy price of about $9. Following the speculation and hype around the cryptocurrency was quickly greeted by a 30% dip within the first few hours, according to CoinGecko.

Contents
Aptos’ WoesAptos VCs: Price Pump and Dump

Following its launch on several major exchanges, the new chain was welcomed by a 50% dip in the crypto winter that is currently sweeping through the market.

Mere hours into its first trading day, it has declined further, hitting a low of around $7.37 in a total dip of 46%.

In a tweet from Mo Shaikh, Aptos Co-founder Shaikh said it was exciting to bring Aptos to Mainnet finally. However, he acknowledged that things could have gone better.

Aptos’ Woes

Aptos is another one in the list of blockchains that claim to be “killers” of an already existing chain. The chain of focus for APT, in this case, is Solana.

Speaking about the problems with the Solana chain, Aptos CTO, Avery Ching commented on Solana’s frequent outages. He also mentioned that existing blockchains are not just as “reliable” as the existing financial rails.

APT uses MOVE, a programming language that is designed for fast and secure transaction speeds, as well as safe asset management.

While Solana claims to have transaction speeds as high as 50,000 TPS (transactions per second), Aptos claims to have a TPS around the 130,000 mark. However, several engineers have reported that the TPS on Aptos is nowhere near this figure and may even be struggling to keep up with bitcoins.

One such engineer is a Twitter user with the username “Paradigm Engineer #420”.

In a tweet, this engineer states that “Aptos is broken.” Paradigm Engineer #420 says that Aptos has a “lower TPS than Bitcoin” and that most of the Aptos tokens are either staked or “ready to be dumped” on retail investors. Keep in mind that Bitcoin has a TPS of about 7. This would put the Aptos chain at around four transactions per second.

The previous tweet from this engineer is only one out of a whole thread. In another tweet, the engineer states that Aptos “knows something is wrong” and that the APT discord server was disabled hours after the Aptos launch, and users could not chat or ask questions.

Aptos VCs: Price Pump and Dump

As it is with most cryptocurrencies on launch, there was a pump in the retail price of Aptos. The cryptocurrency surged to a high of $13.73 on October 19.

However, things soon went south when the APT token’s price action reversed and hit a low of $7.37, a 50% dip.

This disturbing dump in price may be due to a massive dump by VCs and institutional investors, dumping their holdings onto unsuspecting retail investors.

In a tweet, APT co-founder Shaikh addressed the disturbing tokenomics on the cryptocurrency, stating that APT tokens are designed with “people at the core.” He further shared a chart showing the four categories of token distribution and what percentage and amounts each category of investors would receive.

Chart showing the token distribution , Aptos
Chart showing the token distribution | Source: Shaikh/Twitter

According to the chart. The APT community members get 51% of the total supply, amounting to about 510.2 million tokens.

He further explains that everyone who stakes after the APT genesis would get pro-rata staking rewards with up to 7% APY that would unlock every 30 days.

 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

You Might Also Like

SEC Head Gensler Seeks $2.4B to Fight Crypto Corruption

MetaMask Issues Warning on Fake Airdrop Rumors

3 Bearish Price Indicators Every Bitcoin Trader Must Know About

Bitcoin, Ethereum Price Analysis: Bulls or Bears, Who Wins?

9 Proven Ways to Secure Your Crypto Portfolio

TAGGED: Bitcoin, Blockchain, Crypto Exchange
Share this Article
Facebook Twitter Email Copy Link Print
Previous Article VOC, Voice of Crypto, DOGE Dogecoin Hash Rate Pumps Amid Elon Musk and Twitter Deal Rumors
Next Article VOC, Voice of Crypto, Crypto Bear Market, Web3 Potential Crypto Market Pump Deflated by Crypto Investors
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
Gary Gensler SEC US Crypto
SEC Head Gensler Seeks $2.4B to Fight Crypto Corruption
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

  • Advertise With Us
  • About Us
  • Privacy Policy

Copyright © 2023 Voice of Crypto. All Rights Reserved

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?