A widely followed crypto analyst says that layer-1 blockchain Aptos (APT) has a chance at usurping Solana (SOL) as one of Ethereum’s (ETH) chief competitors.
In a new video update, Guy Turner, the host of Coin Bureau, tells his 2.21 million YouTube subscribers that he expects both APT and SOL to face “severe regulatory scrutiny” going forward.
“Besides all the sell pressure SOL and APT are likely to face, Solana and Aptos will both experience severe regulatory scrutiny. In Solana’s case, it will be because it was the de facto exchange chain of FTX.
In Aptos’ case, it will be because it’s the continuation of the Libra crypto project created by Facebook… The reveal of Facebook’s Libra in 2019 caused governments around the world to panic. Imagine what will happen once regulators realize that Aptos is a continuation of Libra under a different name.”
Though Guy says the developers behind Solana have a better understanding of computing hardware compared to the team behind Aptos, the creators of Aptos are better experienced in software and marketing, which could give them a leg up given their connection to Meta.
“It’s hard to compare exactly what’s under the hood, I suppose the most important component is decentralization, in which case, Aptos takes the cake. The only problem is that the details about Aptos’ decentralization aren’t available and Aptos is still much more centralized than the average crypto project.”
However, Guy notes that APT might be the only crypto project on the market with worse tokenomics than SOL, as most APT tokens are held by Aptos Labs.
Despite this, Guy says that Aptos is better positioned than Solana to thrive in the future.
“In sum, Solana has the edge over Aptos in the short term and possibly the medium term, notwithstanding some issues related to FTX and Alameda. In the longer term, it’s too soon to tell, but Aptos appears to be perfectly positioned to secure the partnerships needed for mass adoption. Solana, not so much.”
Solana is worth $23.18 at time of writing, a 4.90% drop on the day, while APT is trading for $14.72, an 11.57% decrease during the same time frame.
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