Aptos Transaction Volume Skyrockets More than 3000%, What's Up?

Bittime - Aptos transaction volume jumped 3,570% after the launch of the Tapos 2 game, attracting huge interest in this layer-1 network. Read more about Aptos here!

Aptos Transaction Volume Skyrockets More than 3000%

After recording 51.6 million transactions on August 13, the Aptos layer-1 network recorded a daily volume increase of 3,570%. The launch of the latest version of the click-to-earn game Tapos 2 led to an increase in the number of transactions.

Aptos' Competition with Heavyweight Companies

Whether Aptos can compete with heavyweights like Ethereum and Solana is questionable, despite its high throughput. Among all Layer-1 and Layer-2 blockchains, its $389.17 million TVL ranks it 20th, according to Defillama.

Aptos fans are confident this will happen, and they point to its TPS, which is fifty times higher than Ethereum and ten times higher than the Base network.

Aptos APT Token Price Increases

As Aptos blockchain activity surged, the price of the Aptos APT token rose from $6,595 to $6,953. However, this increase did not last long, and the token price is now down 2.5% compared to the rest of the market.

Read Also: GM Tokens Apply Transaction Tax on Purchases and Sales!

APT Remains the Best Performing Asset

Even though the price has fallen, APT remains one of the best performing assets over the past seven days, rising 32.5%. Investors hope this positive performance will continue for longer.

That allows the token to reverse its poor performance in 2024. To date, the token price has fallen by 32.5%.

Conclusion

The increase in Aptos transaction volume by 3,570% after the launch of the latest Tapos 2 game shows great interest in this layer-1 network. 

Despite this, Aptos still needs to test its capacity to compete with large platforms such as Ethereum and Solana. This is especially true considering that Aptos ranks 20th based on Total Value Locked (TVL). 

Although the price of the APT token increased in line with activity, this trend did not last long and the price fell again. However, despite a major price drop in 2024, APT remains one of the best performing assets in the past week.

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