1. Greater Potential for Developer and Builder Attraction

In recent months, Aptos has begun to surpass SUI as the go-to blockchain for the Move programming language. Based on developer and builder feedback, it’s evident that Aptos has made strategic backend improvements to create a more developer-friendly environment, a space that SUI previously dominated in 2023.

Hackathon Insights: Aptos Over SUI

During the recent Movement Hackathon, where participants could choose between Aptos and SUI for their blockchain projects, the majority opted for Aptos. Aptos’ backend improvements have made it a more attractive option, allowing developers to work more efficiently. While SUI once had the edge in developer friendliness, 2024 has seen a shift in Aptos’ favor.

With an influx of developers and builders, Aptos’ ecosystem is positioned for further growth. An expanding ecosystem attracts capital inflows, contributing to a more robust network of projects and users.

2. SUI’s Fully Diluted Valuation (FDV) is Double Aptos’

Aptos’ market cap initially far outpaced that of SUI. As of July 2023, Aptos boasted a market cap of approximately $1.5 billion compared to SUI’s $440 million. Both projects held similar FDVs, between $5 billion and $6 billion.

Current Valuations: A Surprising Turn

A year later, SUI’s FDV has doubled compared to Aptos:

• SUI FDV: $23 billion
• Aptos FDV: $10.8 billion

Despite this, their current market caps are much closer, with SUI at $6.5 billion and Aptos at $5 billion. The widening FDV gap suggests a higher price premium on SUI’s potential, while Aptos’ lower FDV could indicate room for more growth and returns, making it an attractive opportunity.

3. $APT Has a Promising Long-Term Chart Pattern

Aptos has maintained one of the most promising long-term charts in the Layer 1 space, making it an appealing option for strategic buys.

• SUI: SUI is currently testing resistance around previous high points. If the market turns bearish, there’s a risk of reversal, posing potential losses for those buying at this level. For those holding SUI, it may be best to wait for exit opportunities.
• APT: I’ve been gradually increasing my $APT position:
  • Buy #3: $8.15 (purchased Tuesday)
  • Buy #4: Initially set at $7.5 but skipped due to market stability post-election.

Among Layer 1s, Aptos stands out with a solid long-term chart pattern, showing resilience and growth potential even amidst broader market fluctuations. This positions Aptos as a strong candidate for both short-term and long-term gains, with a technical foundation that’s both reassuring and promising.

Disclaimer: This content is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. Cryptocurrencies and digital assets carry inherent risks due to high volatility, and past performance does not guarantee future results. The author holds positions in $APT, which may influence the opinions expressed in this article.

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