Aptos Hits 1.5 Million Crypto Transactions, Boosting User Engagement

Aptos [APT] has recently witnessed a surge in activity, marking a significant milestone in its transactional volume. With a remarkable increase in the number of transactions, the network has successfully surpassed 1.5 million transactions within just one week. This notable achievement raises the question of how other important metrics have responded to this exciting development.

What is Happening with Aptos?

• Aptos achieves a milestone: Aptos recently shared an exciting update on July 5th, highlighting the surge in transactional activity on its network. The total number of transactions has skyrocketed, surpassing an impressive milestone of 1.5 million in the past week.
• Daily transaction figures: A closer analysis of the daily transaction figures reveals intriguing numbers. While the lowest recorded transactions were around 178,000 to 179,000, indicating a solid baseline of activity, several days experienced transaction volumes exceeding 200,000, with the highest peak reaching 230,000.
• Active addresses thrive: Upon examining the scanner data, it becomes evident that the Aptos network has seen a notable presence of active addresses over the past week. With a range of active addresses between nearly 17,000 and over 21,000, the network showcases a consistent and engaged user base.
• Surge in new user sign-ups: The metric tracking new account creations reveal a continuous influx of fresh users. As of the latest recorded data on July 4, 2023, Aptos has witnessed its highest number of new users in the past seven days, surpassing an impressive count of 15,000.

Read More: Aptos Price Prediction

📊 Daily Aptos user transactions | 7D wrapped

Since last week, the total number of transactions on @Aptos_Network has increased dramatically, surpassing the 1.5M milestone 📈

🌟 Over the previous 7 days, the daily user count has been consistent, ranging from 175K to 230K. pic.twitter.com/XnvfyZ92QI

— Aptos Insights 🖤🤍 | GM VN 7-8 July (🌞,🇻🇳) (@AptosInsights) July 5, 2023

A deeper dive into the analytics of Aptos unveils intriguing insights. With over 172 million transactions accumulated to date, the network has been operating at an impressive pace of 11.61 transactions per second (TPS). These figures highlight the robustness and efficiency of the Aptos network.

Furthermore, the correlation between Total Value Locked (TVL) and the stablecoin market cap on Aptos presents an interesting observation. Both indicators exhibit a sideways trend, suggesting relative stability in the market. As of the latest data, the Total Value Locked stands at approximately $43 million, while the stablecoin market cap reaches over $48 million. The charts for both indicators reflect this consistent pattern, indicating a steady state in the market cap of stablecoins.

Source: DefiLlama

However, it’s worth noting that the price trend of Aptos (APT) currently displays a downtrend when analyzed on a daily timeframe. This downward movement may potentially transition Aptos into a bear trend, as indicated by its Relative Strength Index (RSI). At present, Aptos is trading at around $7.4, reflecting a decline of more than 2.7% from previous levels. Furthermore, it remains below its short-term moving average (yellow line), acting as an immediate resistance level.

In conclusion, Aptos has achieved a significant milestone with 1.5 million transactions in just one week, demonstrating thriving user engagement. The network’s active addresses and new user sign-ups reflect a consistent growth trajectory. Additionally, the stability observed in the Total Value Locked and stablecoin market cap indicates a balanced market state. However, it’s important to consider the current downtrend in Aptos’ price and the possibility of a bearish transition. As always, it’s essential for investors to conduct their own research and make informed decisions.

Additional Read: BTC Price Dips Below $30,500, Driving Down the Market

Source: AMBCrypto