- Aptos outperformed Polygon and Sui by a significant margin in terms of transaction activity
- APT and MATIC prices surged while social volumes grew too
Aptos [APT] was one of the few networks that failed to receive the same amount of attention in the bull run as the memecoin sector or major blue chip cryptocurrencies.
Transactions on the rise
However, recently, Aptos has seen a surge in activity, overtaking Sui Network for the second-most daily transactions processed in the last 24 hours. Over 16.4 million transactions took place on Aptos, with a significant portion, over 10 million, being driven by the Tapos Cat game. This clicker game allows users to fund their Tapos Wallet with APT, a cryptocurrency native to the Aptos blockchain, and “tickle” their virtual cats to earn HEART rewards.
With over 86 million transactions and 50,000 accounts created so far, Tapos Cat is emerging as a popular choice for users, similar to SPAM SUI on the Sui Network.
Source: X
Due to the surge in activity on the Aptos network, the protocol managed to outperform major cryptocurrency networks such as Polygon as well.
If this trend continues and Aptos continues to record a surge in its activity, it may pull away addresses from other networks such as Polygon too.
Source: Artemis
However, it’s important to remember that this surge might not translate to long-term dominance for Aptos. Sustaining momentum requires sustained innovation and a broader range of applications. Additionally, Polygon has a strong user base, established DeFi applications, and a well-developed network, making it a tough competitor to dethrone.
In other areas apart from activity, Aptos lagged behind Polygon. In terms of DEX (Decentralized Exchange) volumes, Polygon retained its dominance. In terms of TVL (Total Value Locked) on the network too, there was a massive gap.
For Aptos to catch up to Polygon, it will have to see major growth in both these areas.
Source: Artemis
Looking at the price
As far as price movement is concerned, both APT and MATIC had a great week.
In the last 7 days, APT climbed by 4.7% whereas MATIC grew by 2.1%. In terms of social media popularity, APT fell behind MATIC by a large margin.
AMBCrypto’s analysis of Santiment’s data also revealed that the social volume for MATIC rose materially, when compared to those for APT.
Read Aptos’ [APT] Price Prediction 2024-25
Source: Santiment
Barbara Terrio is a seasoned business journalist, delving into the world of finance, startups, and entrepreneurship. With a knack for demystifying complex economic trends, she helps readers navigate the business landscape. Outside of her reporting, Barbara is an advocate for financial literacy and enjoys mentoring aspiring entrepreneurs.
