APT explodes as Aptos transactions surge 3570%: Tracing the last 24 hours

• 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. 

Transactions on Aptos [APT] increased by more than 3,570% on the 13th of August, largely driven by the launch of the Tapos Cat click game on the network.

Data from Aptoscan showed that the daily user transactions on Aptos surged from 1.4 million on the 12th of August to over 51 million at press time, its highest level since May.

Source: Aptoscan

Additionally, the user transactions per second (TPS) hit a record 14,340, marking the third-highest peak in the network’s history. The network surpassed Solana’s [SOL] TPS, which was at around 4,000, per Solana Explorer.

The commendable network growth translated to gains for its native token APT, which has jumped by 30% in the last seven days.

Clicking game behind Aptos’ network surge? 

The Tapos tap-to-earn game hit 79 million transactions, according to an X (formerly Twitter) post. In this click game, users earn tokens by clicking on a virtual cat.

Despite the high user traffic to the Aptos network following the game’s launch, gas fees and speeds have remained relatively stable. 

The Aptos network growth driven by the Tapos game mirrored the effect that Hamster Kombat had on the Toncoin [TON] 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 

APT was trading at $6.83 at the time of writing after a 10% gain in 24 hours. The price was trading above the 200-day exponential moving average (EMA), which is a bullish signal. 

Source: TradingView

The uptrend appears healthy after forming a golden cross, with the 20-day EMA crossing above the 200-day EMA. This formation suggests a sustained long-term uptrend. 

The Relative Strength Index (RSI) has also bounced to form a higher low, confirming the bullish momentum. The indicator was at the 65 level, showing room for more gains as APT was yet to enter the overbought region. 

As bullish signals dominated, a sustained uptrend will see the price target the 1.618 Fibonacci level at $8.62. 

APT’s Open Interest, as seen on Coinglass, further showed rising activity in the Futures market after increasing by jumping by 15% from $66M to $79M. 

Source: Coinglass

Read Aptos’ [APT] Price Prediction 2024-25

Besides the recent boom of the Tapos click game, decentralized finance (DeFi) activity on Aptos pointed to further network growth as well.

Data from DeFiLlama showed that the Aptos network’s Total Value Locked has increased by 18% in the last seven days to $395M at the time of writing.