Aptos hits record 326M daily transactions: Will it help APT’s price?

by
  • Aptos has broken its previous record with a recent milestone of 326M daily transactions. 
  • Tapos Cat, a clicker game, was responsible for the network activity. 

As a seasoned researcher with over two decades of experience in the dynamic world of blockchain and cryptocurrency, I’ve seen my fair share of milestones and records being broken. However, Aptos [APT]’s recent achievement of 326 million daily transactions is nothing short of astonishing!

At the present moment, the blockchain platform Aptos (APT) has achieved yet another significant feat, managing a staggering 326 million daily transactions. This figure is approximately 8.5 times greater than the number of daily transactions handled by Solana [SOL].

Interestingly, Aptos broke its record of 156M daily transactions hit in May. 

In response to the event, Avery Ching, co-founder and CTO of Aptos Labs, pointed out that the latest figure was double the amount recorded in May. Furthermore, he emphasized that the current state of Web 3 infrastructure is prepared for substantial real-world applications.

1. “Not only does this accomplishment surpass the old record, it nearly triples it…” (Regarding Web3 infrastructure, it’s now prepared to handle massive, innovative applications worldwide.)

What drove Aptos’ daily activity?

The increased network activity can be attributed to the release of Tapos Cat’s latest game. This game, which falls under the popular category of click-to-earn games, has also seen rapid growth within the Telegram community.

The game’s second version hit 500M transactions in three days, exploding Aptos network activity. 

The rapid success of @taposcat’s second game, which shattered its previous record by achieving over 500 million transactions within only three days, also played a significant role.

The game was also responsible for May’s record transactions. 

As a long-time crypto enthusiast with a keen interest in decentralized finance (DeFi), I’ve closely followed the growth and development of various ecosystems in the space. Recently, my attention was drawn to Aptos DeFi, which has demonstrated impressive resilience and potential for expansion. In comparison to Solana [SOL] and Sui [SUI] chains, Aptos DeFi appears to be well-positioned to challenge these established players due to its unique features and robust infrastructure. Based on my observations, I believe that Aptos DeFi is poised to make a significant impact in the DeFi landscape and could potentially disrupt the status quo.

How about APT holders? Can they benefit from the positive news? 

On the 12-hour scale, the price dip touched the bullish order block and the short-term support level, both labeled as white, that lie above $5.65.

If the general feeling about the market becomes more positive as we move into the next week, there’s a possibility that APT might aim for a 14% increase if it reaches the $7 price level where substantial supply is located.

Read Aptos’ [APT] Price Prediction 2024-25

In simpler terms, since the Stochastic Relative Strength Index showed it was overbought, it hinted that a change in direction for the price might occur.

If heavy short-selling forces push the APT down, the $5 price point might become an attractive target for further declines. This is because $5 served as a significant support level in the higher timeframe chart analyses.

Read More

2024-08-18 16:23