Movement price

Time and again I see people overthink L1 valuations. The only difference between $.11 MOVE and $1.2 is Coinbase. In April Movement was a dying platform. Today it’s the stablecoin chain and the next “Bitcoin-like” opportunity for institutions. Price leads narratives so they say. The point here isn’t about whether any of this is justified. The point is that the absence of agreed upon valuation methodologies creates a void that only narratives and relative frameworks can fill. Is the MOVE bull case that it becomes a take rate on global GDP? What about it becoming “programmable Bitcoin” which intrinsically can’t be valued? How about both? The truth is no one knows. So what happens when the market instead anchors to relative value and narratives? Well BTC is $2 trillion. So who’s to say MOVE shouldn’t be 50% of that? It offers a superset of Bitcoin’s functionality right? ETH is $500B. Why shouldn’t MOVE be 100% or more of that? It’s the superior product with greater traction across almost every economic metric. These exercises are goofy. But again we can theorize all we want, or navigate the environment in front of us. We’ll figure out the answers to these questions in time. Fundamentals are the ultimate anchor at the limit. But until then, don’t overthink it. There’s an enormous competitive advantage for assets that have penetrated mainstream consciousness and persisted over time. It’s a game of flows and narratives until the party stops.

With politics, there’s politics; with themes, there are themes; and with technology, there’s technology. Originally, Aptos didn’t attract much attention, but this month it has become the center of the spotlight ⁉️ Just a few hours ago, it was officially announced that USD1 has officially landed on @Aptos, marking the first stablecoin deployed on the Move framework. Trading volume surged to $3.98 billion, reaching a three-month high. The price of $APT rose from $4.63 to $5.65, an increase of nearly 30%. ▶︎▶︎ The three main factors behind this 1️⃣ Political narrative: The Trump family’s @worldlibertyfi has chosen Aptos. This wasn’t a random choice; WLFI CEO stated, "They see us as the best technical partner." 2️⃣ Institutional recognition: Bitwise has officially submitted the S-1 filing for the Aptos ETF. This is the first-ever Aptos ETF application. Bitwise CEO Hunter Horsley directly said, "We are excited about the momentum in the Aptos ecosystem." Similar products have already been listed on the Swiss exchange, and the U.S. version is expected to launch by the end of the year. 3️⃣ Technical advantages: The security of the Move framework surpasses that of Solidity. Aptos has 16.7 million monthly active users and 1.7 million daily active users. TVL has grown from $1.27 billion to $1.36 billion. Although the stablecoin market share is only 0.35%, the monthly trading volume has reached $60 billion. ▶︎▶︎ Risk reminders - The U.S. government may delay the ETF approval process. - Technical corrections after excessive speculation. ▶︎▶︎ Summary The triple narrative of politics + institutions + technology rarely occurs simultaneously. Aptos has played this hand very well. If the ETF is approved or the USD1 ecosystem continues to expand, $APT may trigger a real bull market driven by fundamentals. It’s worth closely monitoring the subsequent developments related to the ETF. #Aptober #AptosETF #USD1