NFT traders have moved from Solana to APT since the mainnet launch

• The APT token greatly benefits from Aptos Labs, which is committed to building products and apps on the former’s blockchain.
• In most social media streets, Aptos has been referred to as the ‘Solana killer’, while the latter gained popularity by marketing as the ‘Ethereum killer’.

The Aptos network, an independent high-performance PoS L1 project that leverages the Move programming language and Move VM for application development, has gained momentum over its competitors, including Solana (SOL), in recent days. Developed by engineers behind Diem, DiemBFTv4, Narwhal & Tusk, BullShark, Block-STM and Novi.

As a result, the Aptos network has attracted major funding from institutional and private investors. Mid-July this year, the Aptos ecosystem announced a $150 million funding round led by FTX Ventures and Jump Crypto.

Notably, the funding round also included new investments from Apollo, Griffin Gaming Partners, Franklin Templeton and Circle Ventures.

The Aptos protocol has been popular in recent times, according to statistical data provided by Coinmarketcap. As such, the APT token, the Aptos network’s native token, has surged 27 percent over the past seven days.

Starting at. At 10:17 UTC, the Aptos APT token was trading at $9.26, up 2 percent in the last 24 hours. It is wOrth notes that Aptos Network has a market capitalization of $1,208,809,687, with a recent 24-hour trading volume of around $433,305,661.

The APT token benefits the most Aptos Labswhich is committed to building products and apps on the former’s blockchain.

Since the project’s launch, it has made significant progress by listing on popular crypto exchanges. Currently, Aptos tokens can be traded on Binance, Digifinex and Coinbase Exchange.

The Aptos Network and Market Outlook

In most social media streets, Aptos has been referred to as the ‘Solana killer’, while the latter gained popularity by marketing as the ‘Ethereum killer’. For example, Aptos’ NFT marketplace, Topaz, has raised $5.46 million since its October 18 debut. The most sold NFT on Topaz has over 2.3 million dollars in traded volume. On the other hand, the top selling NFT collection on OpenSea right now is CryptoPunks, which has generated approximately $800,000 in the last 24 hours.

According to Topaz’s pseudonymous founder 0xclickbait, the NFT marketplace is basically doubling in traded volume every day.

On the other hand, Solana NFT trading volume has fallen over 33 percent in the last 30 days. Still, some market strategists believe that the Solana Network’s NFT activity is at a blackout, and will soon moon.

People say Solana is dead

I would say mostly Solana on break

Momentum is shifting the other way as we lose royalties and Aptos launches

When we get our royalties back and Aptos is pillaged with rubbish

Momentum shifts back

— Cozy ⓣthe caller 🚀 | Breakpoint Lisbon (@cozypront) 24 October 2022

The Aptos network is well equipped to take on leading layer 1 blockchains such as Ethereum’s beacon chain and Binance Smart Chain. Also, the network is well funded and has experienced developers, perhaps with regulatory support.

Meanwhile, Solana (SOL) is trading at $31.51, down 84 percent over the past year. SOL Network has a market capitalization of $11,353,841,717 and a 24 hour trading volume of $1,196,725,657.