Proof-of-Stake L1 Blockchain Token Aptos Climbs Close to 20% Higher in 24 Hours

newsbtcPublished on 2022-10-24Last updated on 2022-10-24

Abstract

Aptos Market Cap Climbs Over $1 Billion, APT Transactions per Second Increases From 4 to 16.

Proof-of-Stake L1 Blockchain Token Aptos Climbs Close to 20% Higher in 24 Hours

Five days ago, the Aptos blockchain went live after the project received an influx of capital from venture capital (VC) firms and crypto exchanges like a16z, Binance, and FTX. During the past 24 hours, aptos (APT) is up more than 19% against the U.S. dollar and up 11.1% against bitcoin’s value. The VC-backed blockchain token has managed to situate itself within the top 60 largest crypto market capitalizations in existence.

Aptos Market Cap Climbs Over $1 Billion, APT Transactions per Second Increases From 4 to 16

A new token has entered the top 100 largest crypto market caps after the developers from Aptos Labs announced the project’s mainnet launch on Monday, October 17, 2022. Prior to the mainnet launch, the layer one (L1) blockchain project has been backed by millions stemming from VC firms and crypto exchanges like Multicoin Capital, Binance, FTX, and Andreessen Horowitz (a16z).

The co-founders of Aptos Labs, Mo Shaikh and Avery Ching, worked for Facebook (now Meta) on the now-defunct Diem blockchain project. After the mainnet went live, Aptos took a great deal of flak from the crypto community, as the blockchain dubbed a ‘Solana killer’ was immediately criticized at launch.

An engineer from Paradigm stressed in a tweet that “Aptos is broken” and further noted that “Aptos is currently has lower [transactions per second (TPS)] than Bitcoin and a majority of tokens are either staked or ready to be dumped on retail investors.” At the time, the Paradigm engineer said that Aptos was handling 4 TPS, but promised 100,000 transactions per second (TPS) in its finalized version.

Aptos network explorer on October 22, 2022.

At the time of writing, Aptos is recording around 16.68 TPS and 8,188,514 APT transactions have been settled to date. The current 16 TPS tracked by the Aptos explorer is faster than Bitcoin’s 2.87 TPS recorded on October 22.

Meanwhile, the Aptos blockchain is very new and the native token APT has managed to situate itself in the top 60 standings in terms of market capitalization size. Presently, aptos (APT) is ranked 52 out of more than 13,000 listed crypto coin projects today.

APT/USDT chart on Saturday, October 22, 2022.

APT has a circulating supply of around 130,000,000 tokens and the total supply can reach 1,000,935,772 APT tokens. On Saturday, October 22, APT has seen $322.34 million in global trade volume and the market capitalization today is just over a billion at approximately $1,060,489,188.

Market stats show the APT token has been trading for prices between $7.24 today up to $8.65 per unit. The Aptos blockchain currency is up more than 20% from the low recorded three days ago at $6.73 per coin.

Huobi Global is currently the most active exchange on Saturday, and Huobi is followed by Binance, Okex, and Digifinex respectively. Tether (USDT) is the most active trading pair with APT today and the USDT pairs are followed by BUSD, USD, and BTC.

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Borrowed Faith: How Much of the Bitcoin ETF Flows Are Real Money

"Rented Faith: How Much of Bitcoin ETF Flows Are Real Money?" Bitcoin ETF inflows are often seen as a barometer of institutional conviction. However, week-to-week analysis reveals they are primarily driven by a hidden arbitrage trade rather than directional bullishness. This is the cash-and-carry trade: buying the ETF while simultaneously shorting Bitcoin futures on the CME to lock in the price difference (basis). This delta-neutral activity registers as ETF inflows but reflects a rate-seeking, not price-betting, strategy. Data shows weekly ETF flow volatility is closely tied to hedge fund ("leveraged funds") short positions on CME futures, with a correlation of 0.70. About half of weekly flow variation can be explained by this single factor. In contrast, Bitcoin's weekly price changes have no statistically significant power to predict flows. Crucially, while this arbitrage trade dominates weekly *fluctuations*, it is not the main component of the cumulative *stock*. Of the ~$55 billion total net inflow, the estimated net arbitrage position is only about $1 billion. The vast majority is steady, directional buying averaging ~$400 million per week. Thus, ETF flows overstate the *volatility* of belief, not its *level*. The "rented" arbitrage capital churns, while "owned" directional capital forms the bedrock. This arbitrage trade has been unwinding for two years, with hedge fund shorts peaking at ~$14 billion in late 2024 and falling to ~$4.5 billion. Recent outflows align with basis compression, signaling the trade's exit, not a loss of faith. For Ethereum ETFs, the same dynamic is weaker due to negative carry from forgone staking yield. The key takeaway: To interpret ETF flows, watch the basis vs. Treasury yields and CME hedge fund net shorts. They reveal how much of the weekly "demand" headline is driven by rented, rate-seeking capital versus real conviction.

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Borrowed Faith: How Much of the Bitcoin ETF Flows Are Real Money

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Bernstein Research Report Analysis: HBM Prices Must Double Next Year, Memory Becomes a Burden for AI

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The 'Crisis Helmsman' of Financial Markets Passes Away: Reflecting on Greenspan's Federal Reserve Career

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Two Giants' Credit Expansion: Loan Balances of $9.9 Billion vs. $14.6 Billion, Brazil Emerges as the Main Battlefield

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链捕手23m ago

Two Giants' Credit Expansion: Loan Balances of $9.9 Billion vs. $14.6 Billion, Brazil Emerges as the Main Battlefield

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Research Report Analysis: Is Intel Making a Comeback with Apple? Bernstein's Calculations Show the Right Direction, but the Price Is Already Overvalued

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How to Buy APT

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2.4k Total ViewsPublished 2024.03.29Updated 2026.06.02

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