Popular analyst Coin Bureau expressed that APT is overvalued.
The host of YouTube channel Coin Bureau shared his opinion that APT, the 54th largest cryptocurrency by market capitalization, is expensive.
Popular Analyst Takes APT
Addressing 2.16 million YouTube subscribers, Coin Bureau said that APT, touted as the “Solana Killer,” seemed “overvalued.”
The analyst also noted that the fundamentals of the asset are also attractive.
Coin Bureau also stressed that it is enjoying “serious adoption” of the asset.
“In terms of price action, there’s not much I can say about APT. Because this is a brand new cryptocurrency.
At first glance, APT seems overvalued. However, upon closer inspection, it is noticed that some foundations are beginning to form. According to Aptos explorer there are over 1.7 million wallet addresses.
For comparison, Cardano doesn’t have around 2.3 million wallet addresses. This means that Aptos is on track to surpass Cardano in terms of user count within two weeks of its release. Cardano’s mainnet went live in over five years. This is serious adoption.”
The popular analyst said that Aptos also has the technical capacity to be ambitious in the coming weeks and months.
“Aptos has many milestones ahead. Aptos, like every other new cryptocurrency, wants to scale to support billions of users and every use case you can think of. The difference is that Aptos has the technology to do this.
Aptos is trading at $8.26 at the time of writing, according to CoinMarketCap data.
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