Aptos, the much-anticipated blockchain built by Silicon Valley wunderkinds, has become this week’s punchline in crypto. The project ain’t apt, people said following its rocky (and much criticized) debut Monday.
Its token, APT, dropped about 50% in its first 24 hours of trading and the crypto network that boasts a potential transaction count of 100,000 had only four per second at first. The project, which was valued at $2 billion in prelaunch private investment rounds, has a $959 million market cap as of this writing. Do you laugh or do you cringe at those data points? I guess it depends on the size of your bag.
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