New Solana and Ethereum Rival Surges 130% in Just One Week As Ecosystem Heats Up

New Solana and Ethereum Rival Surges 130% in Just One Week As Ecosystem Heats Up

An altcoin project looking to rival smart contract platforms like Ethereum and outshine the speed of Solana (SOL) is leading the top 100 crypto assets by market cap with major gains over the past week.

At time of writing, Aptos (APT) is up 109% in the last seven days, and at one point was up 130% when it rallied to $8.67 after hitting a low of $3.76 just days prior.

The Aptos chain uses a programming language called Move, which was originally created for Diem, Meta’s since-abandoned crypto project. Aptos aims to advance Diem’s original goal of creating a fast and scalable blockchain that is accessible to the masses.

APT’s rallies come with an overall crypto market bounce, with Bitcoin (BTC), Ethereum (ETH) and most altcoins clocking in gains over the last several days. The Aptos ecosystem is also showing signs of life, as several projects and milestones pop up.

Atomic Wallet, a self-hosted cryptocurrency wallet with over 3 million users worldwide, just announced support for APT holders.

Additionally, Flow, a blockchain created by the developers who behind the popular Ethereum-based game CryptoKitties, has implemented Jolteon, a coding protocol created by executives from Aptos.

Before the turn of the new year, Aptos CEO and cofounder Mo Shaikh said that 2023 will bring significant development to the Solana rival.

Says Shaikh,

“There’s some really cool DeFi stuff that’s going to be coming live soon that takes advantage of not only things like Move, but also parallel transaction processing. So, you know, central limit order books, AMMs (automated market makers), DEXes (decentralized exchanges) – all of these things will be really cool things to keep an eye on Aptos. That’ll be step changes in innovation relative to everything that we’ve seen in the previous generation of blockchain. So we’re looking forward to all of that.”

At time of writing, APT is trading at $8.18 with a $1.2 billion market cap.

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