- Transactions on the Aptos network soared by over 3,570% on the 13th of August, driven by the launch of the Tapos Cat click game.
Technical indicators suggested a sustained uptrend for APT as bulls dominated.
As a seasoned researcher who has witnessed the crypto market’s dynamic nature over the past decade, I must admit that the surge in transactions and network growth on Aptos (APT) is nothing short of impressive. The launch of the Tapos Cat click game seems to have ignited a fire under the network, with transaction volumes skyrocketing by over 3,570% on the 13th of August.
On the 13th of August, I witnessed an astounding surge in transactions on Aptos [APT], with a staggering increase of over 3,570%! This phenomenal growth was primarily fueled by the launch of the Tapos Cat click game on our network. It’s truly exciting to be part of such a vibrant and dynamic crypto ecosystem!
On August 12th, data from Aptoscan indicated a significant increase in daily transactions on Aptos, with approximately 1.4 million. As we speak now, these transactions have skyrocketed to more than 51 million – the highest level since May.
Moreover, our network achieved an all-time high of 14,340 user transactions per second (TPS), ranking it as the third-highest milestone in the network’s timeline. Notably, this figure outpaced Solana’s TPS, which hovered around 4,000 according to Solana Explorer.
The impressive expansion of the network led to a 30% increase in value for its associated token APT over the past week.
Clicking game behind Aptos’ network surge?
The tap-to-earn game featuring a virtual cat has registered a staggering 79 million taps, as reported in a recent post from the platform now known as X (previously Twitter).
In spite of a surge in users flocking to the Aptos network after the game’s debut, gas fees and transaction speeds have generally stayed moderate.
The expansion of the Aptos network, fueled by the Tapos game, exhibited a similar impact as Hamster Kombat did on the Toncoin blockchain.
TON hit an all-time high around three months after Hamster Kombat launched on TON.
As the Aptos network is already growing, can APT mimic TON’s rally to record highs?
APT price analysis
At the moment, APT was being traded for approximately $6.83 following a 10% increase over the past day. This rise places the stock’s value above its 200-day exponential moving average, a positive indication often interpreted as bullish in market analysis.
As a crypto investor, I find myself encouraged by the recent formation of a golden cross, where my 20-day Exponential Moving Average (EMA) has crossed above my 200-day EMA. This bullish signal indicates a healthy uptrend that seems to be sustained over the long term.
In simpler terms, the Relative Strength Index (RSI) has rebounded to create a new support level, suggesting a continuation of the upward trend. At this point, the indicator stood at 65, indicating that there’s potential for further growth since APT hadn’t yet reached the overbought zone.
With optimistic indicators leading the way, we expect a prolonged upward movement that should eventually push the price towards the 1.618 Fibonacci level, which is approximately $8.62.
The Open Interest of APT‘s Futures market, as displayed on Coinglass, indicated an uptick in trading activity. This increase was evident when it surged by 15%, rising from $66 million to $79 million.
Read Aptos’ [APT] Price Prediction 2024-25
Apart from the current surge in popularity of the Tapos click game, there’s also increasing evidence that Aptos’ decentralized finance sector is indicating more expansion for the network.
According to data from DeFiLlama, the total value locked within the Aptos network has risen by approximately 18% over the past week, reaching a current figure of $395 million as we speak.
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2024-08-15 09:46