To Ape or Not to Ape: Aptos Edition
The Townsquare of crypto (CT) is all talking about Aptos. The new Layer 1 blockchain on the block. Apparently Aptos has some cool new tech that makes it better than other blockchains but that doesn't really matter in crypto. What matters is the narrative surrounding your project and the narrative that people with the most social influence, power and money dictate it to be.
In this case, the crypto elites have decided the fate for Aptos. Many prominent VC firms have decided to join forces and Aptos has raised $350m this year alone.
on a side note nice to see Temasek in there
Currently, there are two narratives about Aptos.
The first narrative is that Aptos is going to follow the Solana playbook where everyone thought the token was going to dumped constantly by VCs as most of it was sold to VCs in early rounds and then it surprised everyone by giga pumping and becoming one of the largest coins in the 2021 bull run.
The second narrative is that Aptos is going follow the Internet Computer Playbook where the token was bloated by VCs and then got dumped from $700 to $4.6. ABSOLUTE INSANITY.
Now that we've introduced the two existing narratives, let's see how the launch of Aptos went, CT reactions, reactions from exchanges and launched of new tokens in the current market environment.
Once the mainnet went live, it apparently immediately crashed and the apparently the team did nothing to acknowledge the issues the chain was facing.
Not only that but $APT has already been listed on spot markets at various exchanges and THERE WAS ABSOLUTELY NO MENTION OF TOKENOMICS ANYWHERE FOR HOURS until there was outrage everywhere that this was not mentioned anywhere
Also you know this thing is gonna dump to absolute zero when you look at what tweets they are hiding from their replies. Popular replies to their tweets that went against Aptos were hidden. Well played.
ALSO WHAT IS THIS LMAO. HAHAHHAHAHAHAHHAHAHAHHAHAH.
Wonder why Aptos would urgently persuade Binance to stop listing APTUSDT Perps.
They should learn a thing or two about being subtle.
Doesn't help their case that apparently 80% of tokens were sold to private investors. yikes
new information update 1: This just keeps getting better and becomes more ridiculous
information update 2: Idk if i'm just a hater but this seems similar to Polkadot and Cardano and other random scam chains. Don't think they did too well by having a whole suite of on-chain stuff before mainnet launch. Although this might just be the 'crypto-native' inside of me screaming and there's a 1% chance this is harmless for retail participants and this is just how things work on a mostly VC backed chain.
I severely doubt this is the future of finance but if it is. What a sad sad state of affairs.
Anyways, it should be pretty clear which side I am for this token. The more I look into it, the more blantant it seems like a bear market ICP and I look forward to see it absolutely decimated in the markets.
See you in the orderbooks (potentially). May the odds ever be in your favor