The disbelief rally in Aptos $APT could continue to surprise naysayers. Cointelegraph explores the factors behind the current rally.
FTX Ventures’ prominence induces the risk of a sell-off from the defunct entity. In this regard, some investors might be reassured by the involvement of other venture capitalists like Multicoin Capital, Blocktower Capital and Coinbase Ventures. High-volume exchanges like Binance could also soften the blow dealt by FTX and Alameda Researc.and is still in the nascent stages of ecosystem development.
However, even in this respect, the total size of the Aptos community is smaller than top layer-1 projects. Cardano and Polkadot have more than 1.3 million Twitter followers on their accounts. At the same time, Avalanche has over 855,600 followers, and Tezos has more than 470,000. Aptos is lagging behind, with a 364,500 follower count.
Moving forward, the efforts of the business development team of Aptos and the performance of the blockchain will likely catalyze future price movements.Given the lack of activity and limited ecosystem growth, the rally in APT has taken the market by surprise. It is not difficult to find tweets hinting at the overblown market capitalization of the token.
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