Aptos Achieves Record 326M Daily Transactions: What Does This Mean for APT’s Price?

Aptos achieved a record 326 million daily transactions, driven by a new game, signaling potential growth for its DeFi ecosystem and a possible price increase for APT if market sentiment improves.
Dot
August 18, 2024
Dean Fankhauser

Dean has an economics and startup background which led him to create Bitcompare. He primarly writes opinion pieces for Bitcompare. He's also been a guest on BBC World, and interviewed by The Guardian and many other publications.

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Aptos [APT], a layer 1 blockchain, has reached a significant milestone, recording 326 million daily transactions at press time—8.5 times more than Solana’s [SOL] daily transactions.

This achievement breaks Aptos' previous record of 156 million daily transactions set in May.

Reacting to the accomplishment, Avery Ching, co-founder and CTO of Aptos Labs, highlighted the significance of this milestone. Ching noted,

"This achievement more than doubles the previous record set…Web3 infrastructure is ready for the large-scale and novel use cases in the world."

The surge in network activity is attributed to Tapos Cat's new game, a popular click-to-earn game within the Telegram ecosystem. The second version of Tapos Cat alone contributed to over 500 million transactions in just three days, significantly boosting Aptos’ network activity.

The team shared,

"Contributing to this was the launch of @taposcat’s second game—which broke its record to surpass 500M transactions in just 3 days."

The game had also driven the record transaction numbers in May, indicating that the Aptos DeFi ecosystem is poised for expansion and could potentially challenge Solana and Sui [SUI] chains.

For APT holders, the recent price action has seen the token retrace to a bullish order block and short-term support above $5.65 on the 12-hour chart. If market sentiment improves, APT could target a 14% gain, aiming for the $7 supply area.

The Stochastic RSI (Relative Strength Index) is currently in the oversold area, suggesting a potential price reversal. However, if short-sellers dominate, the $5 support level could become the next crucial target, as it is a key support on higher time-frame charts.

Source: Artemis

Aptos Achieves Record 326M Daily Transactions: What Does This Mean for APT’s Price?

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Aptos [APT], a layer 1 blockchain, has reached a significant milestone, recording 326 million daily transactions at press time—8.5 times more than Solana’s [SOL] daily transactions.

This achievement breaks Aptos' previous record of 156 million daily transactions set in May.

Reacting to the accomplishment, Avery Ching, co-founder and CTO of Aptos Labs, highlighted the significance of this milestone. Ching noted,

"This achievement more than doubles the previous record set…Web3 infrastructure is ready for the large-scale and novel use cases in the world."

The surge in network activity is attributed to Tapos Cat's new game, a popular click-to-earn game within the Telegram ecosystem. The second version of Tapos Cat alone contributed to over 500 million transactions in just three days, significantly boosting Aptos’ network activity.

The team shared,

"Contributing to this was the launch of @taposcat’s second game—which broke its record to surpass 500M transactions in just 3 days."

The game had also driven the record transaction numbers in May, indicating that the Aptos DeFi ecosystem is poised for expansion and could potentially challenge Solana and Sui [SUI] chains.

For APT holders, the recent price action has seen the token retrace to a bullish order block and short-term support above $5.65 on the 12-hour chart. If market sentiment improves, APT could target a 14% gain, aiming for the $7 supply area.

The Stochastic RSI (Relative Strength Index) is currently in the oversold area, suggesting a potential price reversal. However, if short-sellers dominate, the $5 support level could become the next crucial target, as it is a key support on higher time-frame charts.

Source: Artemis
Dean Fankhauser

Dean has an economics and startup background which led him to create Bitcompare. He primarly writes opinion pieces for Bitcompare. He's also been a guest on BBC World, and interviewed by The Guardian and many other publications.

Aptos [APT], a layer 1 blockchain, has reached a significant milestone, recording 326 million daily transactions at press time—8.5 times more than Solana’s [SOL] daily transactions.

This achievement breaks Aptos' previous record of 156 million daily transactions set in May.

Reacting to the accomplishment, Avery Ching, co-founder and CTO of Aptos Labs, highlighted the significance of this milestone. Ching noted,

"This achievement more than doubles the previous record set…Web3 infrastructure is ready for the large-scale and novel use cases in the world."

The surge in network activity is attributed to Tapos Cat's new game, a popular click-to-earn game within the Telegram ecosystem. The second version of Tapos Cat alone contributed to over 500 million transactions in just three days, significantly boosting Aptos’ network activity.

The team shared,

"Contributing to this was the launch of @taposcat’s second game—which broke its record to surpass 500M transactions in just 3 days."

The game had also driven the record transaction numbers in May, indicating that the Aptos DeFi ecosystem is poised for expansion and could potentially challenge Solana and Sui [SUI] chains.

For APT holders, the recent price action has seen the token retrace to a bullish order block and short-term support above $5.65 on the 12-hour chart. If market sentiment improves, APT could target a 14% gain, aiming for the $7 supply area.

The Stochastic RSI (Relative Strength Index) is currently in the oversold area, suggesting a potential price reversal. However, if short-sellers dominate, the $5 support level could become the next crucial target, as it is a key support on higher time-frame charts.

Source: Artemis
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Dean Fankhauser