A rise alleviates all worries.

Written by: WOO

Background: Both from the Move language family, SUI and APT have very different fates.

It is well known that both SUI and APT are new public chains built using the Move language. Since Grayscale announced the launch of the Sui cryptocurrency fund on August 7, SUI has skyrocketed, continuously breaking historical highs, with an increase of about 9 times.

Among them, the top decentralized exchange token $CETUS in the SUI ecosystem and the leading meme coin $HIPPO have both been listed on Binance, becoming market focal points. Meanwhile, APTOS, being from the Move language family, saw a surge in early November due to the popularity of the APT song, but recently has been unable to maintain its gains and has fallen back into a consolidation phase.

In terms of ecosystem projects, Thala is the largest Dex by trading volume in Aptos, but it was attacked on November 16, resulting in the theft of $25 million worth of assets.

Although both are from the MOVE language family, the fates of APTOS and SUI are very different. Can APTOS make a comeback and achieve a late-stage surge? Let's take a look with WOO X Research.

emojicoin.fun: It really isn't that much of a meme.

Pump Fun has exploded in popularity since May of this year, becoming one of the top earning projects on-chain, leading to various imitation projects. APTOS also aims to ride the meme wave, which led to the creation of the meme coin issuance platform emojicoin.fun.

emojicoin.fun is developed by Econia Labs, which is also behind the decentralized order book Econia project, with operations managed by infranomicon.net.

APTOS has also promoted the launch of emojicoin.fun on its official Twitter, indirectly proving that the platform has received official recognition.

Unlike Pump Fun, emojicoin.fun, as its name suggests, is specifically designed for users to create emoji meme coins for speculation rather than strings. Although there are 10 characters that users can combine into Emojis, it also means that the total issuance of tokens on the platform is not infinite but has a fixed quantity.

This brings about two levels of impact:

  • Unable to speculate on hot events: The essence of meme coins is viral distribution, and most meme coin narratives rely on Web 2 viral events to carry over to Web 3. For example, the recent rise of Chill Guy, which surged to a market cap of $300 million in less than 3 days on TikTok, makes it difficult to find corresponding emojis for speculation on that platform, which is commonly referred to by crypto users as 'not finding an angle, unable to buy.'

  • Limited targets, concentrated attention: The limitations of emojis also mean that market attention will focus on more well-known top symbols. The momentum for token price increases is not the essence of 'meme'; rather, it is the capital overflow from the APTOS public chain, which can be seen as the beta of APT.

Platform Projects

Sorted by market cap

😂

  • Market Cap: Approximately $9.3 million

  • 24-hour Trading Volume: Approximately $7.76 million

♾️

  • Market Cap: Approximately $842,000

  • 24-hour Trading Volume: Approximately $2,440,000

🐸

  • Market Cap: Approximately $624,000

  • 24-hour Trading Volume: Approximately $2,310,000

It is worth mentioning that on November 20, the Aptos official account retweeted their previous tweet from August 17, which stated 'Forever Aptos,' accompanied by Batman and bat emojis 🦇. Meanwhile, the token skyrocketed, but then quickly fell back to its original position.

🦇

  • Market Cap: Approximately $30,393

  • 24-hour Trading Volume: Approximately $870,000

Conclusion: A rise alleviates all worries

As mentioned earlier, the cryptocurrencies on emojicoin.fun are essentially related to the Aptos ecosystem, which is very different from the meme narrative. Therefore, for the platform to thrive, it must meet the following conditions:

APT token increase: The transmission of liquidity must inevitably flow from where it is easier to obtain to where it is more difficult, just like the rise of public chain tokens can spill over to ecosystem projects. Since the market cap of ecosystem projects is relatively small, they can also achieve considerable increases. The same logic applies to APT and emojicoin.fun; the first step for emojicoin.fun to become popular is to create demand, and APT must first increase in price for the narrative to continue.

Tokens on the platform must have a wealth effect: The characteristic of meme coins is to utilize the wealth effect to attract users to continually invest funds. If the leading tokens have poor continuity in their price increases, then other meme coin projects will be even more precarious. Currently, the leading token 🐶 has a market cap of only less than $10 million. To attract users to the platform, there must be at least one token with a market cap of $100 million.

In the current situation where there are not enough APT public chain players, a more ideal approach would be for the official team to explicitly or implicitly signal a price increase. Most people see it before they believe it. Without the 'angle' of a meme, it is difficult to attract users if there has not been a wealth effect.