said the catalyst for broader user adoption will be something new
News COINTELEGRAPH IN YOUR SOCIAL FEEDWhile many crypto ecosystems focus on decentralization as the core tenet of Web3
Aptos is seeing success with hybrid platforms that blend Web2 and Web3 technologies
In an interview at the Token2049 event in Dubai
told Cointelegraph that Web2.5 platforms are earning “tons of revenue” within Aptos
He noted that consumer-focused applications
Web2.5 is a term used to describe platforms or applications that blend centralized Web2 experiences with decentralized Web3 elements
These applications avoid full decentralization, often drawing criticism for not fully embracing the Web3 vision
Pampati told Cointelegraph that one of the trends he sees within the Aptos ecosystem is that founders want to build “great consumer experiences.”
He said the Aptos network was built to support projects with almost a Web2-like scale
Aptos has a developer stack focusing on abstracting friction away from Web3
Pampati described this as more of a Web2 user experience “without sacrificing Web3 principles.” He said platforms that followed such models had found success within the ecosystem:
Pampati said the trend is mainly influenced by their developer stack and what the Aptos platform offers
which focuses on broad consumer applications
Related: From digital identity to outer space: Projects push crypto use cases
While Web2.5 applications address some of the user experience problems for crypto and Web3
Pampati said that one of the challenges in the space remains the onboarding of non-crypto natives to the industry
“I think the biggest challenge is trying to predict the next catalyst that pulls forward the next million
I think there’s a lot of tendency to go and refight old wars,” Pampati told Cointelegraph
adding that founders often move back into concepts like memecoins and non-fungible tokens (NFTs)
finding the next catalyst to spur broader mainstream adoption will require creating something new
Pampati added that collaborating and motivating founders to “see through the corners and not just try to recreate what’s already been created before” remains a challenge
He said that founders should be prepared for the next catalyst
Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
Edible Monterey Bay
2025—Talk about an impactful exchange student experience
Céline Molière—co-owner of brand-new Emilie and the Frenchies
which soft-opened last weekend—came to Santa Cruz as a high school student
bakery co-owner and store manager Mary Jane Dean
remembers what she calls the “old-time dating-style” profiles of potential guests
with an image and a profile listing interests
and what stood out about Molière: Her affection for Nirvana
The pair would fast find out they had much more in common
“We were teenagers learning about each other
and we had similar interests,” Dean remembers
adding one key: “[Molière] was curious about Santa Cruz
and I wanted to show her all the things about Santa Cruz I loved.”
Molière was so into what she found in Surf City that once she graduated from college
she opened a cafe in Nice’s historic district (along with her neighbor and friend Emilie) inspired by the cafes of Santa Cruz
including gone-but-not-forgotten Caffe Pergolesi and community stalwart Lulu Carpenter’s.
The cafe proved popular: French audiences responded to tastes that
that the cafe added a second Nice location
Today Molière oversees seven of her own cafes
and Santa Cruz represents their first American cousin
“It was always something we joked about,” Dean says
a long time catering and take-out restaurant at the Aptos Center
next to Outside-In and across the street from the updated Aptos Public Library
Molière’s wife and business partner Eliz Cervetti is also collaborating on the project
Fait amusant: Dean officiated their wedding in the Dean family’s backyard
simple seating and a menu of 15+ hot coffee drinks (including French flavored lattes)
and a short but sturdy lineup of breakfast tartines
hot and cold sandwiches and a few salads (see menu
Fair-trade Malongo brand espresso coffee and teas star among the sippers and sandwiches are made with bread from Companion Bakery and Kelly’s Bakery
“Emilie and the Frenchies is a French cafe that is affordable
“We want to change assumptions of the French food experience
We make simple recipes with really fresh
Opening hours run 7am-4pm Wednesday-Sunday
complete with a ribbon cutting ceremony by the Aptos Chamber of Commerce at noon
Dean sounds audibly delighted to share buttery madelienes and loaded pan bagnats with their Aptos audience
“This is how the French and Californian ways of life are so similar,” she says
Our cafe is French food and pastries with California vibes…Everything in our lives brought us back together to share our favorite Southern French recipes with the community we love so much.”
And while some readers might be surprised Santa Cruz has gotten so big in southern France
at least one early patron to Emilie and the Frenchies flipped the script
A local came in during the soft opening and announced she used to frequent the original spot in Nice
‘I can’t believe there’s some Nice in Santa Cruz,'” Dean adds
“It was a nice full circle moment for us as well.”
More at emilieandthefrenchies.com
Reach him by way of @MontereyMCA on Instagram or mark@ediblemontereybay.com
Digital EditionText Edition
At Edible Monterey Bay, our mission is to celebrate the local food cultures of Santa Cruz, San Benito and Monterey Counties, season by season.
We believe in sustainability, and that everyone has a right to healthful, clean and affordable food. We think knowing where our food comes from is a powerful thing, and we hope our magazine, website and events will inspire readers to get to know and support our local growers, fishers, chefs, vintners and food artisans.
EMB is one of 80+ magazines in the award-winning and beloved Edible Communities family. The Edibles span North America, but each is locally owned and run.
We hope you enjoy all that we have to offer, and we look forward to hearing from you!
While many crypto ecosystems focus on decentralization as the core tenet of Web3, Aptos is seeing success with hybrid platforms that blend Web2 and Web3 technologies, commonly referred to as “Web2.5.”
In an interview at the Token2049 event in Dubai, Aptos’ head of ecosystem, Ash Pampati, told Cointelegraph that Web2.5 platforms are earning “tons of revenue” within Aptos. He noted that consumer-focused applications, in particular, are thriving in the network.
Web2.5 is a term used to describe platforms or applications that blend centralized Web2 experiences with decentralized Web3 elements.
These applications avoid full decentralization, often drawing criticism for not fully embracing the Web3 vision.
Consumer-focused Web2.5 platforms generate revenue on Aptos
He said the Aptos network was built to support projects with almost a Web2-like scale. Because of its Meta origins, Aptos has a developer stack focusing on abstracting friction away from Web3.
Pampati said the trend is mainly influenced by their developer stack and what the Aptos platform offers, which focuses on broad consumer applications.
The challenge of attracting the next million users
While Web2.5 applications address some of the user experience problems for crypto and Web3, Pampati said that one of the challenges in the space remains the onboarding of non-crypto natives to the industry.
“I think the biggest challenge is trying to predict the next catalyst that pulls forward the next million, 10 million users into crypto. I think there’s a lot of tendency to go and refight old wars,” Pampati told Cointelegraph, adding that founders often move back into concepts like memecoins and non-fungible tokens (NFTs).
Still, he said, finding the next catalyst to spur broader mainstream adoption will require creating something new.
Pampati added that collaborating and motivating founders to “see through the corners and not just try to recreate what’s already been created before” remains a challenge. He said that founders should be prepared for the next catalyst.
Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView
While many crypto ecosystems focus on decentralization as the core tenet of Web3
Web2.5 is a term used to describe platforms or applications that blend centralized…
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April 16, 2025 by Sajjal Ali
Aptos (APT) is currently trading at $4.72
reflecting a 4.67% decline in the last 24 hours
the cryptocurrency has shown a 1.34% increase over the past seven days
The 24-hour trading volume stands at $107.37 million
Analysts believe that APT is showing the indicators of a possible bullish reversal and one that is potentially worth watching in the weeks to come
including high-profile partnerships and growing developer activity
underpins the case that the price at present is undervalued
Technical analysis by cryptocurrency experts, including Chris Md, emphasizes major Elliott Wave patterns in the price action of APT
the latest five-wave upward impulse by APT ended at around $5.15
This was followed by a correcting phase defined as an ABC correction
The present price at levels approaching $4.66 indicates that the cryptocurrency might be at a crucial point
either in further recovery or a more significant fall
Key levels of support to watch are $4.66, $4.70, and $4.74. If APT stay above these levels
the potential of a drive upward in an impulsive manner continues to exist
if the APT fails to overcome the resistance
Traders should look out for the RSI levels above 50 in order to measure bullish momentum
Meanwhile, the Aptos blockchain is moving steadily to establish itself as a top player in DeFi use cases. In the last couple of months, Aptos developers have focused on polishing the Move programming language
in order to optimize the performance and security of DeFi protocols
New elements like Dynamic Script Composer and Account Abstraction are aimed at streamlining DeFi interactions and allowing users to carry out flash loans and intricate trades with ease
the Move programming language has also been supplemented by faster data types
including Ordered Maps and Big Ordered Maps
These optimizations are set to meet the high expectations of the DeFi market so that Aptos continues to be a viable platform of choice for high-performance financial apps
These developments indicate a bright future for the Aptos ecosystem and its increasing use by developers
Written By:Advertorial Team
The hunt for significant returns in the world of crypto usually looks like a game of luck masquerading as strategy
Most investors desire high returns but cannot bring themselves to admit that they’re really gambling on a coin’s potential instead of making decisions on the basis of profound analysis
these off-the-charts returns are not all chance; there’s a recipe for them: early access
The best-performing crypto assets in history weren’t always the flashiest at the start
many were underappreciated before they skyrocketed
or even meme coin Pepe success stories unique is that they were positioned early.
People believed before the hype engine was activated
Early-stage projects like EarthMeta are such opportunities when something is in its infancy and the potential on the upside is massive
Well-developed projects with good tokenomics
particularly in a landscape where too many projects don’t have meat or potential
The distribution of the tokens is a very important thing to get
Projects coming out with enormous supplies of tokens and the majority in the possession of the dev team are a formula for catastrophe.
and equitable allocations can lay the groundwork for sustainable growth
EarthMeta is an early-stage metaverse venture that presents one of the best growth opportunities available in crypto right now
As opposed to the majority of projects centered around disjointed virtual real estate
EarthMeta enables people to purchase and own actual cities tokenized in the form of NFTs.
The concept is deceptively simple but powerful: cities in EarthMeta aren’t passive assets that just collect dust cities in EarthMeta actually generate income through marketplace transactions
There is a capped supply of just over 150,000 cities
with each city tied to real-world mapped locations
The platform is driven by the governance token EMT.
It’s more than just a utility token; it’s a gateway to accessing features
and participating in a healthy digital ecosystem
The project is already deployed on various chains
and it has a well-designed tokenomics model in place for longevity and healthy growth
What sets EarthMeta apart is its open leadership and community interaction
Unlike most projects that fall silent once the initial buzz has faded
EarthMeta’s team is out there and is in touch with the community
this offers a second opportunity to invest in a project like Ethereum or Solana in their nascent stages
Aave is a silent superstar of the DeFi arena
As flashy promotions and token burns from most projects catch all the headlines
Aave operates in the background to support a large share of decentralized finance transactions
and interest accruals without requiring traditional banks
Many other DeFi projects rely on the protocol
so it’s a long-term participant in the crypto environment
AAVE is underappreciated in the wider market
Aave’s infrastructural role will only become increasingly important
AAVE is not simply a coin it’s a governance token that provides actual clout over the workings of the platform.
As more focus is placed on projects that value actual utility and reliability
Aptos is a blockchain that was developed with scalability and speed
From the ashes of Facebook’s Diem failure
Aptos is a blockchain that aims to resolve most of the problems that have hamstrung conventional blockchains
it’s optimized for thousands of transactions per second with phenomenally low fees
making it perfect for decentralized apps (dApps)
Aptos employs a more secure and efficient programming language called Move
with less likelihood of smart contract catastrophe
As interest in scalable and efficient blockchain systems increases
Aptos is staking its position as the number one Ethereum alternative
offering developer-friendly tooling and an emphasis on user experience
Aptos is in its infancy stage but has every likelihood of being the building block of the next wave of blockchain use cases and thus a likely candidate for significant returns in the future
Privacy is turning into a very sizzling issue in the cryptocurrency space, and Monero (XMR) is at the very center of the debate
While most other cryptocurrencies claim to be private but are not
which makes it a safe haven for those who care about the privacy of their finances in an era of heightened surveillance
As the rules close in around the crypto space
privacy will become increasingly priceless
Monero has already withstood the test of time
enduring several cycles of the market without the crutch of hype or marketing fluff
Its longevity and increased demand for anonymity make Monero an excellent contender for future expansion
Mantle is an Ethereum Layer-2 solution that aims to deliver high-performance
low-cost transactions without compromising Ethereum’s security
The project is meant to scale Ethereum without compromising decentralization
allowing developers to develop decentralized applications (dApps) at a lower cost and with greater throughput compared to the main Ethereum network
Mantle is supported by the largest DAO-controlled treasury of over $3 billion
which it leverages to finance developers and reward ecosystem growth
This model of funding differentiates it from other projects that are based on speculative growth and guarantees a solid future
Mantle’s strategy places it as a sustainable and long-term bet in the crypto space
with high potential for growth as Ethereum scales
Osmosis is a Cosmos SDK-based decentralized exchange (DEX) that is intended to make cross-chain transactions as easy as possible
Most DEXs are hampered by the problem of blockchain incompatibility
but Osmosis overcomes this with its inter-blockchain communication (IBC) protocol
which enables assets to flow between blockchains effortlessly
This emphasis on interoperability makes Osmosis stand out as an essential part of the DeFi puzzle
but by a clear vision for a cross-chain DeFi future
It’s still early in the cross-chain game
and as decentralized and interoperable finance demand rises
Spell Token is Abracadabra
a decentralized finance (DeFi) platform that allows users to borrow Magic Internet Money (MIM)
by collateralizing interest-bearing assets
The concept is that rather than having your assets idle
you can leverage your assets as collateral to borrow MIM and still receive interest on your assets
SPELL is essential to the ecosystem of the platform: it assists in governance (enabling token holders to vote on major decisions) and incentivizes users by rewarding them
It also facilitates long-term strategies such as compounding
where users can reinvest their profits to accumulate their assets
The platform does not seek to replace fiat currency or traditional banks
and handling assets without having to sell them
Amidst an environment where speculation is king
SPELL is unique in its real-world usability and in serving the DeFi ecosystem
The crypto space is rife with opportunity for the savvy investor who knows what to look for
Whether it’s the emerging metaverse economy with EarthMeta
or the rapid and low-latency blockchains such as Aptos
there are a multitude of projects that have significant potential
and to perceive the genuine utility behind each project
Investments in the early stages of such projects
provide the best potential for great returns in the long run
and place yourself in the right spot in the market
Stay ahead of the curve with authentic news
and exclusive in-sight reports only on The Crypto Times
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Token2049 in Dubai brought together top crypto projects including Aptos and Binance
providing traders with fresh insights and networking opportunities (source: Bubblemaps Twitter
The event's networking environment may drive short-term volatility and liquidity in tokens related to these platforms as market participants digest new partnership announcements and strategic updates
Traders should watch for post-event trading volume spikes and potential price movements in Aptos and Binance-linked tokens as a result of increased institutional and retail interest following the conference
Welcome to your premier source for the latest in AI
and AI search tools—driving tomorrow's innovations today
originating from Meta's Libra project
is a high-throughput blockchain still seeking widespread adoption despite its technical strengths.The project focuses on asset tokenization
and decentralized infrastructure to drive its growth and adoption.Aptos aims to democratize financial access and enhance the DeFi ecosystem by leveraging its fast
cost-effective blockchain technology.After three years on mainnet
Aptos still occupies an unusual position in the blockchain ecosystem
Born from Meta's abandoned Libra project with backing from top-tier VCs
it entered the market with high expectations and even higher valuations
built on the Move programming language for enhanced security
Yet while its technical capabilities are undeniable
the project's path to widespread adoption remains less certain in an industry where the gap between technical superiority and actual usage often seems unbridgeable
to discuss how the project is navigating these challenges
and whether its institutional DNA is a help or hindrance in today's market
Ash Pampati was Business Lead at Metaplex Studios on Solana and spent seven years at YouTube leading music industry partnerships
The YouTube-to-blockchain experience informs his approach to Aptos’s adoption
"Our overarching thesis is that all the world's assets will come on-chain," he said
This interview has been condensed and lightly edited for clarity
CoinDesk: I've noticed Aptos evolving toward a more grassroots builder culture
All ecosystems are competing for developers with great ideas who are motivated to ship against all odds
The community-building strategy begins with a fundamental question: How do we convince a developer not only to choose Aptos over other chains but to choose Web3 over Web2
Your developer outreach in Southeast Asia has been notable
Is this a strategic focus because those markets are more receptive
or because established developers have already committed to other chains
We've built amazing grassroots relationships with talented students worldwide — California
We're showing them the value of Web3 and how a consumer-oriented
high-performance chain like Aptos can help them launch DApps in a week if they have the ideas and infrastructure ready
you must be ready to invest in talented and motivated people immediately
We have an opinionated but effective grants program where we coach people through accelerators
or connect them with investors who share complementary visions
Solana faced similar technical promises but saw its ecosystem dominated by pump.fun and $fart and $dawg
does Aptos risk the opposite problem — impressive technology but not a lot of speculation
of the meme coin frenzy adding assumptions about our identity
We believe tokens and tokenized assets enable businesses to emerge that otherwise couldn't in any other market
and they allow users entry into businesses they wouldn't otherwise have
Do I believe 60,000 tokens should emerge daily on Aptos
But do I want a consistent stream of quality projects using tokens to align their communities or build products
Those are the kinds of builders we want to attract
What strategic areas is Aptos focusing on now
We have three core focus areas that help us overcome adoption challenges
Our overarching thesis is that all the world's assets will come on-chain
We're seeing that convergence now with RWAs
institutional interest converging with native DeFi
We want to build a network that enables the global trading engine of these assets
which leverages Aptos's technical advantages
We've integrated the top three stablecoins on Aptos in just three months
reaching about a billion dollars in total market cap
Aptos is orders of magnitude cheaper from a transaction cost basis — by a factor of a thousand — compared to the next high-throughput blockchain
We also have the fastest finality at sub-second speeds
Our third focus involves decentralized infrastructure supporting emerging technologies
you can unlock capabilities around storage and compute never seen with previous blockchains
This enables running AI and ML infrastructure on fully decentralized networks
Your examples frequently focus on institutional use cases
Is there a disconnect between Aptos' vision and where the market actually is today
Our PACT protocol exemplifies what we want the next five years to look like
It’s utilizing on-chain rails on a high-throughput blockchain with stablecoin integration to extend credit networks to people in markets who never had access to credit before
a rickshaw driver in India who needs a loan to fix their vehicle can now get one
Democratizing access to financial markets gives me goosebumps
which has had product-market fit for several cycles and been pioneered within the Ethereum and EVM L2 communities
we're exploring what a healthy DeFi ecosystem looks like on a high-throughput blockchain that abstracts much of Web3's friction
a doctor in Kentucky who saves all his passwords on notepads
park some stablecoins in a reliable place to earn yield and participate in the on-chain economy with limited friction
Not having to save a passkey while still benefiting from decentralization and self-custody
Making it easier for people to onboard and earn money in the on-chain economy is very exciting for us
We're in a period where many crypto projects have fallen short of their promises
What keeps you confident that Aptos can succeed where others have struggled
Speaking broadly to the industry of founders: the macroeconomic environment is uncertain
and there will always be volatility in this market
But foundations like ours and others remain focused on the goal and are willing to invest in people to continue the mission.My biggest fear is talented people leaving Web3 for more stable environments
Anything we can do to retain talented people to continue the mission of decentralized networks
we'll never see the revolution in the world we want to see on a timescale that matters
We shouldn't take progress for granted
It takes work to keep people building for the future
Afra Wang is a freelance writer and journalist with working experience in AI and crypto
She previously studied international history at Columbia University and the London School of Economics
and her personal website can be found at afra.work
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Aptos is a Layer 1 blockchain designed for speed and scalability
Aptos works by using the Move programming language and Block-STM technology to process transactions in parallel securely
ensuring reliability since its mainnet debut
The blockchain industry is always evolving
with new projects bringing innovative solutions
It aims to improve transaction efficiency while ensuring strong security
Aptos uses a unique Move programming language and offers a high transaction throughput of 160,000 tps and low fees
Aptos is a Layer 1 blockchain designed to be fast
The blockchain is built to process over 160,000 transactions per second (TPS)
which is much faster than many other blockchains like Bitcoin (7 TPS) or Ethereum (15-40 TPS)
Aptos works by using a Proof-of-Stake (PoS) system combined with a special consensus method called AptosBFT
meaning it can be updated easily without shutting down
Aptos Labs is the company behind the Aptos blockchain
founded by Mo Shaikh and Avery Ching in 2021
Both founders formerly worked at Meta on the Diem blockchain project
Aptos Labs took the technology and ideas from Diem to create Aptos
including $200 million in March 2022 led by Andreessen Horowitz (a16z)
$150 million in July 2022 led by FTX Ventures and Jump Crypto
and additional funds in September 2022 from Binance Labs
The Move Programming Language is a key part of Aptos
created originally for Meta’s Diem project
It is a Rust-based language that makes writing smart contracts safer and simpler
can’t be copied or lost by mistake; they can only be moved between accounts
The language also includes a tool called the Move Prover
which checks smart contracts for mistakes before they run
Block-STM Technology is the engine that powers Aptos’s ability to process over 160,000 TPS
It stands for Block Software Transactional Memory
This system runs transactions optimistically in parallel
meaning it processes many at once without waiting and checks them afterward
it gets re-run using smart memory tools to fix conflicts
This method uses all available computer power efficiently
making Aptos much faster than blockchains that process transactions one by one
The Data Model in Aptos organizes information so the blockchain runs smoothly
it starts at 0 and increases with each transaction
Data is stored in a way that validators can access quickly
and resources are tied to specific accounts
The Byzantine Fault Tolerance (BFT) Consensus Mechanism
ensures Aptos stays secure even if some validators fail or act dishonestly
This system can handle up to one-third of validators being faulty
The Parallel Transaction Execution Engine is what makes Aptos so fast
processing thousands of transactions at once instead of one after another
and fixes any issues by re-running failed ones
This approach cuts wait times and boosts throughput
The Aptos ecosystem is a growing network of projects built on the Aptos blockchain
there are 194 total projects built or integrated on the Aptos blockchain
Some of the top Aptos ecosystem eprojects are:
Check out the complete list of Aptos ecosystem projects here
The Aptos crypto token (APT) is the native cryptocurrency of the Aptos network. It powers the network by handling fees, staking, and governance. Currently, APT token ranks among the top #30 cryptocurrencies with a market cap of $3.59B, according to CMC data
APT tokenomics define how the token is distributed
The initial total supply of APT was 1 billion tokens at the mainnet launch
You select a wallet that supports APT, such as Petra Wallet
the official Aptos wallet developed by Aptos Labs
downloadable from petra.app or browser extensions like Chrome
Other options include Martian Wallet or Fewcha
but Petra is widely recommended for its reliability
download the Petra Wallet extension for your browser (e.g.
open the extension and click “Create New Wallet” to start setup
The process takes a few minutes and ensures your wallet is ready to hold APT
Step 3: Secure your wallet with a seed phrase
The wallet generates a 12-word seed phrase
which you write down and store offline in a safe place
This phrase is your key to recovering your wallet if you lose access
Confirm the phrase in the app to activate your wallet
Now, buy Aptos from an exchange like Binance or MEXC
then withdraw it to your Petra Wallet address (a unique string starting with “0x”)
copy your address from the “Receive” section
paste it into the exchange’s withdrawal form
Transactions are finalized in seconds due to Aptos’s speed
Check your Petra Wallet balance to confirm the APT arrived
using Petra’s interface to monitor activity
Keep your seed phrase safe and never expose your private key online
The Aptos blockchain is a promising contender in the Layer 1 space
and innovative Block-STM technology offer developers and users a robust platform for dApps
While competition from Solana and Ethereum looms
Aptos’s focus on accessibility and performance makes it a blockchain to watch in 2025 and beyond
1 Aptos (APT) is worth approximately $6.10 in U.S
based on real-time data from CoinMarketCap
Aptos software refers to the Aptos blockchain
a Layer 1 Proof-of-Stake network built by Aptos Labs
and scalable decentralized applications (dApps)
targeting over 160,000 transactions per second
Aptos and Solana both aim for high-speed transactions
Aptos boasts over 160,000 TPS in tests with Move’s security-focused design
while Solana claims 65,000 TPS and has a more established ecosystem
Solana’s Rust-based coding is widely adopted
Neither is definitively “better”; Aptos offers potential in security and speed
while Solana leads in adoption and real-world use
Aptos could be a good investment due to its strong tech – high TPS
and $350 million in funding from firms like a16z
per Aptos Foundation records – but it’s risky
yet crypto volatility and competition from Solana or Ethereum pose challenges
Aptos’s (APT) price prediction varies widely due to market unpredictability
Some analysts suggest up to 100% growth in 2025
and analysts speculate it could climb if Web3 adoption grows
You can buy Aptos (APT) on major cryptocurrency exchanges like Binance, Coinbase, KuCoin, and MEXC
specializing in Crypto and Blockchain Technology
With over 5 years of experience in the crypto and Web3 space
Amit has authored more than 1,000 articles
making him a prolific and knowledgeable writer in the field
as he is also the founder of two crypto websites: walletreviewer.com and reviewexchanges.com
he is also a stock investor and enjoy playing cricket in his free time
NFTevening is an award-nominated media outlet that covers NFTs and the cryptocurrency industry
Opinions expressed on NFTevening are not investment advice
Before making any high-risk investments in cryptocurrency or digital assets
investors should conduct thorough research
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2025 Aptos community proposal seeks to slash staking rewards by nearly 50% The proposal seeks to cut Aptos staking rewards from 7% to 3.79% over three months to boost capital efficiency
News COINTELEGRAPH IN YOUR SOCIAL FEEDAn Aptos community member submitted a proposal on April 18 to slash staking rewards for the network’s native token
The proposal, submitted by a community member called MoonSheisty
aims at reducing reward yields from 7% to 3.79% in a three-month period
aligning Aptos staking rewards with other layer-1 blockchains and encouraging capital efficiency
but early comments on GitHub show some initial resistance
A community member going by ElagabalxNode noted that reducing the staking reward without “compensatory mechanisms like a robust delegation program” could push smaller validators out of the network
thus weakening the Aptos blockchain’s decentralization and long-term resistance
Related: Aptos to accelerate innovation with new tech, investment in India
The proposal addresses the validators’ role in the network
stating that Aptos should consider a community validator program to give grants and stake to small validators contributing to the ecosystem.”
Aptos was founded in 2021 by a group of former Meta engineers. According to DefiLlama
the Aptos blockchain has a total value locked of $974 million as of April 18
with nearly a $320 million coming from lending protocol Aries Markets
While high staking rewards can incentivize users to lock up tokens on Aptos
MoonSheisty argues that they may also discourage participation in higher-risk
higher-reward opportunities within the ecosystem
Staking rewards can vary significantly across blockchains
real returns on the BNB Smart Chain are among the highest at 7.43%
while Cardano offers one of the lowest at just 0.55%
Staking offers multiple benefits: It incentivizes users to lock their tokens on-chain
supports validators and helps secure the network
Rewards work similarly to interest earned on a savings account — but instead of cash
Related: Coinbase’s Ethereum staking dominance risks overcentralization: Execs
While staking gives the community a true “stake” in the network
including the consolidation of smaller pools into larger ones
This trend can undermine decentralization and weaken the blockchain’s overall resilience
Magazine: Ethereum restaking — Blockchain innovation or dangerous house of cards?
Please note that VanEck has positions in Sui (SUI) and Aptos (APT)
Previously, we discussed the potential of Ethereum and Solana to onboard billions of users to crypto
they represent earlier generations of blockchain technology
newer blockchains have emerged to address the limitations of these systems
two related blockchains founded by the diaspora of Facebook’s blockchain project
Diem aimed to create a stablecoin payment system for Facebook’s social media platform but was shelved due to regulatory pressure
its experiments spurred significant advancements in blockchain technology
One of the most important outputs of Diem was the Move smart contract programming language. Move is based off the popular (+4.3M developers worldwide
3rd fastest growing language) Rust language and was optimized to solve issues with earlier smart contract languages like Ethereum’s Solidity and Cardano’s Haskell
Both Aptos and Sui leverage Move to create a quicker
and more intuitive development environment for software engineers to build applications out of smart contracts
Move also helps the underlying engine of both Aptos and Sui
called “the virtual machine” (VM)
process transactions faster (how quickly a user receives a confirmation) and with more throughput (how many transactions the system can process per time period)
Move's potential is so high that the value of all Move-based blockchains has surged from ~$5B to ~$22B in just one year
Move is important because it offers a better entry point for incoming developers
The number of crypto developers is very small
and a popular quip is that there are more full-time developers at Meta (Facebook) than there are in all of crypto
By offering a more approachable and efficient language
Move has the potential to attract a broader developer base
This is vital for uncovering the next groundbreaking application that could drive mass adoption
We view blockchains as a platform for innovation and experimentation
with high valuations of SCPs driven by their capacity to enable groundbreaking applications that can engage hundreds of millions of users
Because no one knows what that application may be
it is important to have as many people experimenting as possible
Both Sui and Aptos pair their Move VMs with advanced consensus mechanisms that ensure each network efficiently validates transactions and updates
This combination of cutting-edge virtual machines and consensus protocols forms the foundation of their technology
delivering superior performance compared to previous blockchain systems
Until innovations like Solana’s Firedancer prove otherwise
Sui and Aptos stand as the pinnacle of blockchain technology
Peak daily transactions of different blockchains
Sui and Aptos offer important blockchain technology capable of serving hundreds of millions of users
Aptos and Sui bring blockchain scaling alongside simplicity and safety for builders
which offers scaling at the cost of complexity
which provides a richer ecosystem at the tradeoffs of governance through a rigid technocracy and inferior technology
Sui and Aptos offer a better user experience for crypto’s current use case – speculation and value transfer
they lay the groundwork for future non-speculative applications like AI agents
While the future blockbuster crypto applications are uncertain
Sui and Aptos stand out as strong contenders for attracting the blockchain users of tomorrow
While Sui and Aptos both utilize the Move programming language
their blockchains are architected with distinct design philosophies
Each network employs its own version of Move
optimized for different tradeoffs that influence how transactions are processed
When a transaction is sent to a blockchain
it contains information that tells the blockchain’s software what parts of the blockchain’s database (called state) it wants to change
Blockchain engineers call these database updates “state changes.” Most blockchains operate in a hierarchy where one validator acts as the “leader” for a set period of time before a new one is selected
During a validator’s leadership span
determines their validity (ensuring authorization
and then updates the blockchain’s state
The resulting block of transactions (the block in the blockchain) is broadcast to the other validators in the network
and synchronize their copies of the state with other validators
Once a supermajority (66%) of validators agree that the state update is valid
the blockchain progresses to the next block of transactions
A blockchain's architecture can be segmented into two primary components:
blockchains must either increase the volume of data transmitted across the network (enabling larger transaction blocks) or optimize the efficiency of data processing and communication (enhancing the message exchange process)
Sui and Aptos tackle these challenges differently by leveraging their unique adaptations of Move to push the boundaries of blockchain technology to increase the efficiency and volume of data each processes
Both Aptos and Sui optimize methods to increase the size of the data that can be processed and how quickly the network disseminates that data
This analysis examines their approaches to the first step
“Processing transactions and building blocks of transactions,” to highlight each chain's unique advantages and tradeoffs
To simplify the technology behind Aptos and Sui
improvements in blockchain technology introduced by Aptos and Sui can be likened to optimizing the restaurant’s operations
This includes making the kitchen faster and the waiters more efficient and ensuring orders are processed and delivered to customers quickly and accurately
Ethereum is software that processes one state update at a time
and this happens only after transactions are accumulated in a list over a relatively lengthy period
Each block of transactions is small and can handle only a limited number of operations
transactions are processed sequentially rather than in parallel
meaning each one must be executed one after the other
Even if transactions touch different parts of the blockchain’s state
they must wait for other transactions to be processed
and sequential execution leads to low throughput and creates significant scalability challenges
imagine Ethereum as a restaurant with many waiters taking orders from tables but only one cook in the kitchen
customers give their food orders to their waiters
and these waiters come together to build the orders into a giant list
The list size is very limited; if a customer does not buy an expensive enough item
his order is bumped off the list (and he still owes money for his order)
the list of customer orders is sent to the Chef
At the ‘Ethereum Restaurant,’ the Chef is very “entrepreneurial,” so he accepts “tips” to process orders first so that customers can receive their food sooner
Once the Chef has decided on the order sequence
he prepares the food according to the customer's preferred meal
This almost always means the Chef cooks food first for patrons who give the largest tips
Since the ‘Ethereum Restaurant’ has only one person making food
many tables placing orders at once will result in a long queue of orders
While many consider the food at the ‘Ethereum Restaurant’ to be very good
it has proven far too popular and cannot scale up to customer demand
Patrons of ‘Ethereum’s Restaurant’ are annoyed by the long wait times and the high costs of “tipping” the head waiter to get a timely meal
They particularly despise the experience of paying a lot of money and not receiving food
Blockchains like Sui and Aptos have made a big improvement by allowing transactions to be parallelized
This is accomplished by allowing transactions that do not conflict to occur simultaneously
this means that transactions using different applications or simple payments can be processed together
but Sui and Aptos currently offer the most advanced designs
this capability of parallel processing would be equivalent to the restaurant adding many cooks to the kitchen
the expanded staff can prepare many meals at once to fulfill customer orders much faster
how each blockchain achieves parallelization is very different and comes with tradeoffs
While there are now more chefs to process orders
each restaurant’s kitchen is still limited by the amount of equipment it possesses
If six tables order pizza at the same time
limited space in the pizza oven means that some pizzas must be cooked before the others
this would be like two traders competing to get the best price on the same DEX on the same coin
These “conflicts” must be resolved
and Sui and Aptos have different methods of doing this
the pros and cons of each blockchain’s processing scheme have important implications for application developers and each’s ability to scale
Sui employs a method to parallelize orders called “static parallelism,” which is similar to Solana’s process
This means that transactions on Sui must explicitly specify the parts of the blockchain’s ledger they want to read and write
Because Sui then knows what parts of the blockchain a transaction wants to touch
it can then allow other transactions that touch different parts to be processed at the same time
In the case where two transactions try to write to the same part of the blockchain simultaneously
Sui recognizes the conflict before the transactions are processed
Sui determines which transaction comes first based on ordering criteria like fees paid
we can better understand what this looks like in practice
At the Sui restaurant “Casa Sui,” when a table orders
the waiter takes the order and mentally breaks down the order to determine which parts of the kitchen will be used during preparation
If a hamburger and french fries are ordered
the waiter tells the kitchen to use the grill and the fryer
one of Sui’s many chefs “locks” the area of the kitchen he needs to prepare the meal
During this “lock,” no other orders can be processed using that same kitchen equipment
items that use other parts of the kitchen can be cooked at the same time
If two waiters simultaneously try to call on the same parts of the kitchen
‘Casa Sui’s’ ordering system recognizes the “conflict” before the cooking begins
one order is selected to be cooked first and the other to come afterward
Let’s assume three orders are placed simultaneously:
Table A’s and Table B’s orders conflict because they both use the pizza oven
Sui’s waiters both determine this dependency upfront and determine the best ordering
‘Casa Sui’ selects Table B’s order to go first and Table A’s to go after
the salmon is processed without any hold-up because it was known in advance that the grill station would be free
There are ample waiters taking orders and many chefs cooking
but a limited supply of culinary equipment
Aptos does not worry about kitchen conflicts occurring
Aptos makes that tradeoff by assuming that conflicts in the kitchen are rare and can be quickly resolved
Aptos uses what is called “dynamic” parallelism
transactions do not specify what parts of the state they touch
orders are “optimistically” processed
an algorithm called the “Scheduler” processes transactions based on maximizing the output of transactions over the shortest period of time
it only finds conflicting transactions when it actually goes to write the change in the blockchain’s state
the conflicting transactions and any dependent transactions are sent back to the scheduler
who must sift through the conflicts and resolve them
the set of transactions is processed to completion
the waiters do not have to assess which parts of the kitchen must be touched
they simply pass the orders to the kitchen
the “Kitchen Head” (The Scheduler) receives them and determines the most efficient cooking process
the Kitchen Head assumes there are no conflicts and orders the cooks to begin cooking food
it is only discovered once the cooks start cooking
and ask the Kitchen Head to resolve the dispute
While the process of “throwing away the whole meal” sounds like a waste and would slow down ‘Le Maison de Aptos’
This is because Aptos’s kitchen is very
But what are the implications of each model
Aptos is considered by many to be a more flexible system because it does not force transactions to specify the parts of the state they touch upfront
This is important for developers because when they build applications
they must work through all the necessary dependencies and write the code to describe them
processing customer orders on Aptos is much easier than it is on Sui because the waiters do not have to think about what parts of the kitchen are used for an order
From the standpoint of attracting builders to an ecosystem
some consider this development annoyance to be frustrating enough to opt for Aptos over Sui
This is because writing out extra code takes time
and dependencies may need to be changed often
development is more straightforward for its application creators
many dependencies are difficult to know upfront for both users and developers
While developers want optionality in application design
users may want many different transaction pathways that they will not know in advance
Due to the preference for optionality of both developers and users
transactions may “lock” part of the state that they do not need
which causes other transactions to be held up
If a business relies upon lots of shared resources to operate
it will be challenging for it to reserve all resources at once using Sui’s format
a business on Sui may even lock parts of the blockchain it does not need
In the example of the restaurant at ‘Maison de Aptos’
a patron can tell the waiter he desires “chicken” and that he wants whichever type is made fastest (open kitchen spot) between fried
the customer must tell the waiter which kind of chicken he wants upfront
and the customer cannot embed contingencies
Sui resolves conflicts between competing transactions upfront
allowing it to establish an order at the outset
This approach reduces the need for computational resources to handle conflicts during execution
freeing up the capacity to process additional transactions
This design is advantageous in scenarios with heavy decentralized exchange (DEX) activity
often called “contentious state writes,” such as traders competing for arbitrage opportunities
detects and resolves conflicts dynamically during transaction processing
the difference in performance between the two chains is minimal
as Aptos's conflict resolution takes only a few milliseconds
This is because Aptos transactions being processed into a block reside “in memory,” the processor's cache
the Aptos transaction scheduler can become a bottleneck during extreme trading scenarios
High levels of contention require repeated detection
and re-execution of conflicting transactions
which can significantly slow down transaction processing
Kingman’s Formula from operations management illustrates that as system utilization approaches its maximum capacity
will result in exponentially longer wait times
heavy trading activity can overwhelm its scheduler and significantly degrade performance
While such scenarios have not yet occurred on Aptos
particularly during events with significant trading contention
blockchain transaction throughput (TPS) benchmarks often focus on simple wallet transfers rather than real-world trading scenarios
This discrepancy means chains boasting high TPS may struggle under contentious trading conditions
Restaurant Analogy: Sui is like a restaurant kitchen that pre-sorts orders to prevent clashes over limited kitchen space
kitchen space at ‘Casa Sui’ is more efficiently allocated
which usually works well but can create chaos during peak times
Imagine a Friday night at ‘Maison de Aptos,’ with multiple diners competing for the popular Dover sole
resembling Lucy and Ethel struggling to keep up at the chocolate factory
This can lead to delays and inefficiencies under high demand
highlighting the potential drawbacks of Aptos's dynamic scheduler
Source: I Love Lucy as of 12/17/2024
Sui has its own bottlenecks and challenges due to the use of "write-locks." Transactions in Sui can reserve sections of the blockchain during processing
but some may fail to utilize the reserved resources effectively
This inefficiency can lead to certain parts of the blockchain being "boxed out," preventing other transactions from accessing them until the write-lock is released
Such scenarios could reduce overall system efficiency
especially under heavy transaction loads or when write-lock contention is high
Sui’s approach to resolving state writes upfront introduces a unique advantage called “local fee markets.” This feature allows Sui to manage transaction costs more efficiently by segmenting fees based on the specific parts of its blockchain being accessed
this means that the cost of interacting with a heavily used application on Sui can increase without affecting fees for other applications
if there is high demand for trading in the SUI/USDC pool on the Sui-based DEX Aftermath Finance
the blockchain can raise transaction fees specifically for that pool
users accessing other applications or parts of the blockchain will not face increased fees
This localized pricing model contrasts with blockchains like Aptos and Ethereum
such as during a popular NFT minting event
This makes the entire blockchain more expensive and difficult to use
Restaurant Analogy: At the ‘Casa Sui’
cooking stations can each set prices for usage relative to demand
if there’s a rush for sea urchin ravioli
but the cost of triple-stuffed steak quesadillas from the grill station remains unaffected
all kitchen resources share a single pricing mechanism at ‘Maison de Aptos’
the fees for unrelated items like red snapper pizza will also rise
Sui’s design also enables service-level agreements (SLAs) on its blockchain
Validators on Sui can make binding commitments to applications regarding transaction latency and pricing on a per-day basis
This guarantees specific performance levels
ensuring businesses building on Sui do not have to worry about being crowded out by high activity elsewhere on the blockchain
a business running an e-commerce platform on Sui can lock in agreements for low transaction fees and quick processing times
Sui's architecture ensures that operations remain unaffected even during high demand on unrelated applications
This capability gives businesses a level of predictability and reliability that is unavailable on most other blockchains
this creates a compelling reason to choose Sui as a platform
as it allows them to focus on growth and operations without worrying about network congestion or fluctuating fees
Past performance is no guarantee of future results
Not intended as a recommendation to buy or sell any securities namedherein
Sui has two mechanisms that surpass other blockchains in terms of latency (user feedback time) and throughput (TPS)
Sui calls these “Fast Path” and “Pilot Fish.” Fast Path allows simple payment transactions to bypass consensus
resulting in transaction latencies as low as 300ms
Pilot Fish demonstrates that Sui can be scaled nearly infinitely by allowing validators to add additional servers to process more transactions seamlessly
Sui’s unique scaling capabilities stem from the interaction between its transaction processing model
its version of the Move smart contract language
A key distinction of Sui is its state architecture
This differs from the more rigid account-based structure found on blockchains like Ethereum
accounts do not directly "hold" a balance of USDC
balances are tracked within the Ethereum-based USDC smart contract
which acts as a ledger for all USDC owners
they must interact with the USDC smart contract
This process involves calling the contract to deduct the sender’s balance and credit the recipient’s balance
Every USDC transfer requires an interaction with the smart contract
it deletes the $1,000 object to create two new $500 objects; one is sent to Greg
Balances of USDC on Sui are not centralized as ledger entries within a single contract
USDC exists as an object that individual user accounts own directly
they transfer ownership of the USDC object itself
I create a new USDC object representing the transferred balance
and ownership of that object is assigned to the recipient’s account
This eliminates the need to repeatedly call a central contract for every transaction
By allowing accounts to own and manage token objects directly
Sui achieves a more decentralized and scalable design
This object-based approach reduces bottlenecks caused by interactions with centralized smart contracts and provides a flexible framework for state management
This design significantly impacts blockchain parallelization
suppose two entities send USDC simultaneously on Solana or Aptos
Their transactions must be ordered in that case because both will interact with the USDC smart contract and touch the same part of the Solana/Aptos state
Sui’s accounts own USDC as individual objects
the transactions only modify the ownership of their respective token objects
these transactions can be processed in parallel
transactions involving the same object must still be serialized to maintain consistency
Sui introduces a unique property where simple object transfers
This is possible because these object transfers can only be initiated by the owner and do not need to be globally ordered
All that is required is a signature verification and an update to the state by the validators to reflect the transfer
calling a smart contract (like the USDC contract) must go through consensus
Consensus is one of the most time-consuming aspects of blockchain transaction processing
often accounting for 70% or more of the total processing time in high-throughput blockchains like Solana
This is because validators worldwide must exchange messages to agree on the transaction order
The time taken is measured in "RTTs" (round trips of messaging)
depending on the validators' geographic locations
By bypassing consensus for simple transfers
shaving up to 500ms off transaction processing time
Restaurant Analogy: This would be similar to ‘Casa Sui,’ offering diners the option of a pre-cooked meal
This significantly reduces service time and expands the number of diners who can be served
at other blockchain "restaurants," all orders must go through the kitchen
Sui’s object-based structure enables near-unlimited scaling through a mechanism called Pilot Fish
Most blockchains scale by optimizing software to run efficiently within the constraints of a single server per validator
allows validators to scale horizontally by using multiple servers
This means a validator facing resource constraints (e.g.
or computational power) can add servers to handle more transactions
While "hot" (high demand) areas of the blockchain still require ordered transaction processing
the ability to distribute processing across multiple servers prevents bottlenecks in other parts of the blockchain
Restaurant Analogy: If ‘Casa Sui's’ main kitchen becomes overwhelmed
additional kitchens with specialized equipment can be contracted to handle the load
While patrons ordering popular dishes may face wait times
others can enjoy meals prepared in less busy stations
Aptos has developed a scaling mechanism called Quorum Store that optimizes blockchain speed by focusing on the consensus process (the second part of blockchain processing) to increase throughput and reduce latency
It allows more validators to participate in the initial transaction processing than just the leader
blockchains rely on a leader-validator system
where one validator at a time ingests transactions
Quorum Store disrupts this model by allowing any validator to disseminate transactions across the network
This frees up the leader to focus on proposing the blocks and disseminating those blocks
This speeds up the time needed to process transactions and enables other validators to do some of the leader’s workload
Quorum Store may exacerbate Aptos's scheduler challenges under high-conflict scenarios
such as when many transactions compete for the same trade
multiple validators proposing conflicting blocks can slow Aptos’s ability to resolve dependencies and conflicts
Quorum Store improves transaction efficiency
“there is no such thing as a free lunch,” and Sui’s design introduces new problems alongside its unique capabilities
One key decision is to skip a process called DAG certification
which serves as an additional check on transaction authenticity
This decision reduces the number of RTTs (round trips of messaging) required during consensus
resulting in faster transaction processing
such as a 1% loss affecting 5 of Sui’s 100 validators
could significantly degrade the network’s performance
While these claims should be interpreted cautiously due to a lack of transparent methodology
they highlight a potential vulnerability in Sui’s design
Sui could experience transaction latency issues that more robust designs like Aptos might avoid
and these vulnerabilities are still largely theoretical
Sui’s broader attack surface could pose a greater risk as the ecosystem matures
Both Move blockchains are less than a few years old; their usership is in its early innings
Sui and Aptos’s ecosystems are relatively small
Sui is currently leading Aptos based on the most fundamental metrics of usership
Though Sui and Aptos have roughly the same number of monthly active addresses
Note: Active Addresses may not be a reliable measure of user activity due to the simplicity of one user controlling multiples addresses
Sui has captured 6x of the fee revenue of Aptos in the past year ($10.4M vs $1.7M)
Sui has also transacted 3.5x the DEX volume of Aptos ($38.3B vs $10.8B)
Aptos ($750M) has more stablecoins on the chain than Sui ($476M)
Drilling down further into each ecosystem’s constituents
both have most of the core components needed to facilitate speculation-focused use cases of crypto
Each ecosystem has ample applications in DEX
Sui has stronger entities within the Borrow/Lend category in Suilend and Navi
Sui has a deeper perpetual futures trading market
mostly centered around an application called BlueFin
Bluefin averages around $250M in trading volume and ranks 7th in all crypto
Aptos has a more successful decentralized stablecoin project
The go-to market for attracting developers for Sui and Aptos has been to offer substantial incentives for builders to come to each chain. For example, on October 13, 2023
Sui pledged 157M SUI tokens to incentivize the growth of its ecosystem
this has been utilized to bootstrap its DeFI by rewarding those who trade
We estimate that the collective impact of Sui’s incentives resulted in rewards that have added 5.2%-10% in annualized yields since June 2024
We estimate that Sui has awarded more than 70M Sui in incentives in 2024 alone
We estimate that Aptos spent over 10M APT worth around $100M to incentivize its DeFI ecosystem
While Sui has spent more than Aptos in dollar terms
we estimate Aptos has allocated slightly more of its token supply than Sui (0.9% vs
The result has been that both Sui and Aptos bootstrapped very important components of each ecosystem very quickly
this has also led to substantial “mercenary capital” (users only there to extract rewards) deploying to each chain
Similar to a federal government providing subsidies for an industry
the Sui and Aptos incentive campaigns have created a massive ecosystem
Sui and Aptos have focused on creating their respective communities by asserting each chain’s technical supremacy
Though many developers herald the advantage of the Move programming language and some have fallen into the camps of Sui or Aptos
there is currently no material depth to either chain’s culture compared to legacy blockchains
We assert this based upon Google search interest in each’s memecoins and the total number of developers tracked in public repositories
While Sui averaged 280 weekly active developers in 1H2024
Sui and Aptos builders represent less than 4% of all active developers in crypto
From the standpoint of retail interest in each’s community
Sui is ahead of Aptos by a factor of nearly 9x when examining Google Trends (Aptos: 2 vs
global search interest for Sui was higher than it was for Solana on 17 days and higher than Ethereum on 16 days
The consequence of the relatively anemic development community of Aptos and Sui is that neither can boast of a truly differentiated
Though Sui has a few interesting applications like “FanTV” and “Birds,” neither application has attracted significant usage
Another current disappointment of Sui and Aptos is that neither has an application leveraging the unique technical capabilities of either chain
the most important perpetual exchange on Sui
has its entire trading engine deployed on Bluefin’s private server and not on Sui’s blockchain
Sui’s system is currently better for traders than Aptos
Sui has created a better system for traders
which should translate into better prices for Sui DEXes
We base this upon the following components:
Sui has poured tremendous thought into building a system optimized for onchain trading through built-in components of Sui’s code and innovations created by Sui’s team
The first is the concept of programmable transaction blocks (PTB)
which enable a single transaction to dynamically interact with multiple parts of the blockchain state
where transactions call a pre-defined function
Sui’s PTBs allow transactions to dynamically decide which calls to make and which parts of the state to touch
This dynamism enables real-time decision-making based on both onchain and offchain data
This capability is particularly significant for applications requiring high performance
such as decentralized exchange (DEX) aggregators
these aggregators can leverage offchain compute (like ASICS/GPUs) to determine optimal trading routes
incorporating both onchain liquidity and external pricing data
this level of sophistication is challenging or impossible on Ethereum or Aptos
Sui’s design surpasses Solana in practical applications
While Solana theoretically allows similar functionality
its stringent limits on the number of input accounts (64) and maximum transaction instructions significantly restrict its usability
a complex Sui transaction that interacts with more than 100 objects would be unfeasible on Solana
This makes Sui a more robust platform for advanced trading applications
Both Sui and Aptos set their transaction prices based on the complexity of a transaction measured in network resources used (gas)
that each network charges for some unit of resource utilization
Aptos gas prices function by having governance set a minimum gas price at an indeterminate interval and then allowing gas prices to float above this minimum based on transaction demand
Aptos does not have a priority tip separate from the gas price; instead
priority is achieved by setting the gas (cost per unit of network resource used) higher
Sui’s validators set a “reference price” that bonds validators to process all transactions that pay this reference price
To gain a higher spot in the processing queue
a transactor on Sui can attach a priority fee to their transaction
Aptos has a global gas price that does not charge larger fees for higher-demand pieces of Aptos blockchain (like a DEX with lots of trading)
Sui enables more in-demand parts of the state to charge higher fees than lower-priority parts of the state
These seemingly minuscule differences are important because they affect the economics of traders in meaningful ways
Particularly important traders called “market makers” often place and cancel (updating) thousands (or more) of orders per second
This is done to bid/offer advantageous prices relative to newly developing information
With PTBs that change many parts of the state simultaneously
a market maker can update their book of bids/asks with fewer transactions
This alone makes operating on Sui cheaper than other chains like Aptos
Sui has an interesting component of architecture embedded in its blockchain called “DeepBook,” which is a global centralized limit order book (CLOB) on Sui for wholesale liquidity
This liquidity layer allows DEXes and DEX aggregators (entities that access all DEXes in their selection set) to tap into global liquidity across Sui
This centralized order book aggregates liquidity across Sui into one unified pool and enables deeper liquidity for traders operating on Sui
Since any app can tap into their liquidity layer
it reduces the advantages of applications with lots of liquidity thus leveling the playing field and lowering the prices that DEXes can charge users
Sui and Aptos have both designed their systems so that high usage of each respective blockchain will accrue value to each respective token
its token’s value will likely appreciate in price
both blockchains’ chief token use cases are very similar:
APT tokens is that SUI has a capped supply of tokens while APT tokens have no maximum supply
Aptos inflation currently rests at 6.7% per annum and decreases each year by 1.5%
this endless supply of APT due to persistent inflation is offset by the fact that transaction fees on Aptos result in a token burn
The consequence is that more activity on Sui will benefit those staking tokens over those not staking tokens
This is because those who stake validators on Sui will receive the transaction fees
an increase in transaction fees benefits everyone equally
it must be noted that while Aptos can achieve a deflationary token system through substantial activity
Sui has it baked in by means of its storage system
An interesting feature of Sui and Aptos is their approach to addressing the long-term challenges associated with storing crypto data onchain
Blockchains continuously grow in storage size
which must be maintained by validators and nodes
This poses a problem because the increasing storage demands drive up costs and place additional strain on blockchain networks
they primarily charge transaction fees based on the consumption of network resources like bandwidth
these costs are transient as they account only for the resources consumed at the moment of the transaction
Most blockchains fail to charge fees for persistent resources
such as the ongoing cost of storing a user's account data and transaction history on the blockchain
Sui and Aptos address this issue by incorporating the cost of data creation into transaction fees
they price new data storage directly within the transaction
ensuring that users contribute to the long-term costs of maintaining the blockchain's storage
storage fees in APT are locked behind the data that is created
If someone modifies the data to be smaller or deletes the data entirely
a portion or all of that locked APT is remitted to whoever deleted that data
the process of removing data from Sui’s storage also allows for a refund of stored SUI
while most of the SUI can be returned (up to 99%)
creating a permanent “token sink” of SUI
This storage fund earns rewards from the network (newly minted SUI allocated from the original 10B total supply)
This fund then remits SUI rewards to the Sui network validators to help them pay the long-term costs of storing SUI’s blockchain ledger
We base our valuation of Sui and Aptos on their projected year-end market share within the total smart contract platform (SCP) market capitalization
Our forecast for SCP market capitalization is derived from the estimated growth of the United States M2 money supply
We project M2 to reach approximately $22.3 trillion by the end of 2025
continuing its annualized growth rate of 3.2% since its last trough in October 2023
we estimate the total SCP market value to reach $1.1 trillion by the end of 2025
a 43% increase from today’s capitalization of $770 billion
This compares to an all-time peak valuation for SCPs of $989 billion in November 2021
Historical analysis of M2 changes versus SCP market cap changes shows a strong statistical relationship
The 12-month moving average of SCP market cap changes correlated positively with monthly M2 changes
exhibiting an R² value of 0.36 and a t-statistic of 5.7 (p < 0.0001)
Move-based blockchains hold a combined market share of approximately 2.7% of the SCP market
using an AR model demonstrating the lowest AIC among comparable forecasting models
This model also predicts the individual shares for Aptos and Sui
Sui (SUI): 5.5% of the SCP market, corresponding to a market capitalization of $61 billion. With 3 billion tokens unlocked by January 2025, this equates to a token price of ~$16. This represents a 326% gain from today’s price of $3.75.
corresponding to a market capitalization of $11 billion
With 50.5% of its token supply (507 million tokens) unlocked
this equates to a token price of ~$22 and is a 201% gain from today’s price of $7.30
These projections highlight the strong growth potential for both chains
We believe Sui and Aptos are poised to capture a larger share of the expanding SCP market as other chains lose their relative status
and price targets in this blog are not intended as financial advice or any call to action
or as a projection of how Sui (SUI) and Aptos (APT) will perform in the future
Actual future performance of Sui (SUI) and Aptos (APT) is unknown
and may differ significantly from the hypothetical results depicted here
There may be risks or other factors not accounted for in the scenarios presented that may impede the performance
These are solely the results of a simulation based on our research
Please conduct your own research and draw your ownconclusions
We believe the evidence supports Sui over Aptos due to its performance advantages and scaling potential
We find that It currently offers capabilities that are not replicated in Aptos
Sui may offer a set of technical capabilities and economics that prove more attractive to market markers
resulting in a better-priced DeFi ecosystem
Sui has formed its technical capabilities into powerful memetic narratives that have attracted token investors and application builders
This has translated into better token performance and a more vibrant ecosystem of applications
we believe that Aptos’s edge in designed flexibility and arguably more robust chain architecture may prove to be competitive advantages
While Sui has a substantial lead in many economic metrics
The long-term winner will depend on which platform can sustain innovation while translating it into ecosystem expansion
including novel applications of crypto technology
The greatest challenge facing both Aptos and Sui is achieving effective business development
While both projects have invested significant resources to incentivize ecosystem growth and emphasize their technical advantages
neither has yet developed a cohesive strategy that integrates technical development with ecosystem expansion
Both blockchains represent state-of-the-art distributed systems design driven by teams at the forefront of technological innovation
business success requires more than technological breakthroughs
Aptos and Sui must attract and cultivate differentiated projects while using feedback to inform technical direction
but it is crucial to strike a balance between advancements that address current usability challenges and those designed to enable future use cases
While both chains have successfully onboarding projects
their ecosystems must attract applications that leverage their unique capabilities to create innovative use cases
where business development collaborates closely with technical development
is essential to build technology that solves problems users care about
Without this alignment and differentiation
these systems risk failing to achieve their potential
Sui and Aptos feature novel blockchain designs that have yet to be fully stress-tested in high-demand or adversarial environments
Although both have experienced surges in transaction volume
most were simple transactions rather than Solana-esque levels of DEX trading activity
This leaves uncertainty about how the systems would handle the intense trading conditions that have previously stressed many chains
while the innovative features of these blockchains (Pilot Fish
they might require adjustments if significant performance issues arise under extreme scenarios
These changes could potentially compromise some of their high-level capabilities
making it critical for the teams to continuously refine their systems without losing their edge
As second-generation high throughput blockchains
Aptos and Sui face competition from established ecosystems like Ethereum and Solana
While these older chains may lack the technical sophistication of Aptos and Sui
they benefit from larger developer bases and broader distribution backed by users with substantial financial resources
Emerging competitors like Monad and Berachain further intensify the landscape
Monad combines strong technology with a dedicated community
while Berachain has gained momentum by tapping into the crypto community's speculative animal spirits
potentially surpassing Aptos and Sui in speed and throughput
investors backing the narrative of better technology
Blockchain teams must consistently deliver and implement new innovations quickly to maintain relevance
History is filled with high-performance blockchains that lost their edge and token valuations to newer
Given the enormous economic incentives in the blockchain space
many of the world’s brightest minds may pursue degrees in distributed systems engineering
These developing entrants will continue to the cadence of technological advancement
ensuring the competitive landscape remains dynamic
blockchain tokens are subject to broader economic cycles
As alternative forms of money and financial systems
they compete with traditional monetary frameworks
While political and economic reform seems unlikely in most nations
unexpected shifts in fiscal policy or financial prudence could impact crypto markets
Crypto markets also exhibit high sensitivity to financial policy cycles
Our analysis reveals a strong correlation between the supply of M2 and the value of smart contract platforms
reinforcing the importance of macroeconomic trends in shaping blockchain token valuations
The recent rise in crypto prices reflects optimism about regulatory clarity under the new Trump administration
Although the administration’s stance on crypto appears favorable
opposition to the industry remains strong and well-funded
While the executive branch’s administrative "deep state" (SEC
etc) may no longer actively undermine crypto
which introduces criteria for determining whether a cryptocurrency qualifies as a commodity rather than a security
While this framework provides much-needed clarity
there is a risk that existing crypto incumbents and their allies may influence the bill’s language to impose stringent decentralization requirements
Such requirements could disqualify chains like Solana
making their tokens marketable only to qualified investors and limiting broader adoption
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financial instruments or digital assets mentioned herein
The information presented does not involve the rendering of personalized investment
Certain statements contained herein may constitute projections
forecasts and other forward-looking statements
are valid as of the date of this communication
Actual future performance of any assets or industries mentioned are unknown
Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed
VanEck does not guarantee the accuracy of third party data
The information herein represents the opinion of the author(s)
but not necessarily those of VanEck or its other employees
valuation scenarios and price targets presented on any digital assets in this blog are not intended as financial advice
a recommendation to buy or sell these digital assets
There may be risks or other factors not accounted for in these scenarios that may impede the performance these digital assets; their actual future performance is unknown
and may differ significantly from any valuation scenarios or projections/forecasts herein
forecasts or forward-looking statements included herein are the results of a simulation based on our research
are valid as of the date of this communication and subject to change without notice
Please conduct your own research and draw your own conclusions
Hypothetical or model performance results have certain inherent limitations
simulated results do not represent actual trading
may have undercompensated or overcompensated for the impact
of certain market factors such as market disruptions and lack of liquidity
hypothetical trading does not involve financial risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading (for example
the ability to adhere to a particular trading program in spite of trading losses)
Hypothetical or model performance is designed with benefit of hindsight
Index performance is not representative of fund performance
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Investments in digital assets and Web3 companies are highly speculative and involve a high degree of risk
but are not limited to: the technology is new and many of its uses may be untested; intense competition; slow adoption rates and the potential for product obsolescence; volatility and limited liquidity
inability to liquidate a position; loss or destruction of key(s) to access accounts or the blockchain; reliance on digital wallets; reliance on unregulated markets and exchanges; reliance on the internet; cybersecurity risks; and the lack of regulation and the potential for new laws and regulation that may be difficult to predict
the extent to which Web3 companies or digital assets utilize blockchain technology may vary
and it is possible that even widespread adoption of blockchain technology may not result in a material increase in the value of such companies or digital assets
there’s no guarantee that it will rise again
there is a significant risk of loss of your entire principal investment
Digital assets are not generally backed or supported by any government or central bank and are not covered by FDIC or SIPC insurance
Accounts at digital asset custodians and exchanges are not protected by SPIC and are not FDIC insured
markets and exchanges for digital assets are not regulated with the same controls or customer protections available in traditional equity
assets stored or created using blockchain technology
Web3 companies include but are not limited to
including the possible loss of the money you invest
there is no guarantee that investment objectives will be met and investors may lose money
Diversification does not ensure a profit or protect against a loss in a declining market
Past performance is no guarantee of future performance
An investment in the Trusts involves significant risk and may not be suitable for all investors
you should carefully consider the Trusts’ investment objectives
Please read the prospectuses carefully before you invest
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shareholders of the Trusts do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act or the protections afforded by the CEA
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Learn how to stake Aptos (APT) and earn rewards while securing the network
Follow this step-by-step guide to staking Aptos with Nansen’s validator for optimal returns and enhanced security
Aptos (APT) is a high-performance Layer 1 blockchain designed for scalability
Staking Aptos allows holders to earn rewards while contributing to network security
we’ll walk you through how to stake Aptos (APT) with Nansen’s validator
ensuring maximum rewards and security through data-driven insights
Aptos operates on a Proof-of-Stake (PoS) consensus mechanism
meaning validators secure the network by staking APT tokens
Users who delegate their APT tokens to a validator can earn staking rewards
you need a wallet that supports APT staking
Tip: If you’re using a Ledger hardware wallet
ensure it is updated to support Aptos before proceeding
you can purchase them on major exchanges like Binance
To maximize your staking rewards and ensure network security
delegate your APT tokens to Nansen’s validator
Nansen provides reliable staking infrastructure backed by on-chain analytics
Follow these steps to stake Aptos with Nansen’s validator and start earning rewards:
0x212c3a1056ca8656a5d43e1e8c1072e9eba5b4df8836b476a61389156cbbaf8d
Staking APT on Nansen directly is super easy
Note: Some validators may have a lock-up period before you can withdraw your funds
Using Ledger provides an extra layer of security by keeping your private keys offline
Staking Aptos (APT) is a great way to earn passive income while contributing to the network’s security
Stake Aptos (APT) with Nansen today and maximize your APT holdings
The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein
The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol
Nansen does not recommend any particular course of action in relation to any token or protocol
The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial
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None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy
sell or hold any token or participate in any protocol or enter into
any agreement for or with a view to buying or selling any token or participating in any protocol
Statements made herein (including statements of opinion
if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person
Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol
Observations and views expressed herein may be changed by Nansen at any time without notice
Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content
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to complete a groundbreaking integration enabling the automation and tokenization of Form Reg D filings
securities law document has been placed on-chain along with its metadata
paving the way for seamless compliance and real-world asset (RWA) integration into decentralized finance (DeFi) ecosystems
Bluprynt provides issuers with the ability to create
and store Form Reg D filings via decentralized infrastructure
the platform supports pairing this compliance data with summarized asset information
expanding the functionality of tokenized RWAs
and enhancing their utility across DeFi markets
simplifying capital raising by exempting private securities offerings from registration
and allowing unlimited funds to be raised efficiently
enabling companies to secure over $1.5 trillion annually
By automating the creation and tokenization of Reg
D documents in native and expanded formats
Bluprynt empowers issuers to meet regulatory requirements while leveraging blockchain technology for transparency and efficiency
Their latest innovation enables various functionalities:
Unlocking New Possibilities for Real-World Assets
the architecture can support broader tokenization initiatives in the RWA space
the pilot aligns with ongoing efforts to modernize and streamline U.S
The tokenization of securities law documents like Form D
combined with regulatory metadata extensions
demonstrates how blockchain can reduce inefficiencies in regulatory processes
and support digital transformation initiatives across agencies
By providing an on-chain infrastructure for compliance data
Bluprynt and Aptos are not only advancing the capabilities of blockchain technology but also fostering trust and efficiency in regulatory systems
Bluprynt is a leader in compliance automation and blockchain solutions
specializing in tools that streamline regulatory processes and enhance transparency
The company leverages cutting-edge AI and blockchain technologies to enable issuers to meet the most demanding compliance requirements while supporting innovation in the financial sector
For more information, visit bluprynt.com or contact [email protected]
Aptos is a next-generation Layer 1 blockchain designed for scalability
Its advanced architecture supports high-throughput
making it an ideal platform for building decentralized ecosystems
With its focus on accessibility and innovation
Aptos is empowering developers and enterprises to unlock the full potential of blockchain technology
Aptos Foundation is dedicated to supporting the development of the Aptos protocol
decentralized network and driving engagement with the Aptos ecosystem
By unlocking a blockchain with seamless usability
Aptos Foundation aims to bring the benefits of decentralization to the masses
a leading provider of cutting-edge compliance and disclosure automation tools
and Crypto Carbon Ratings Institute (CCRI)
today announced the completion of the first ever pilot of a MiCA product in the European Union
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