The state of Aptos as it hits this interesting milestone
- Aptos has hit over 1 million weekly transactions in the past week.
- APT price is declining with a possible bear trend on the horizon.
Aptos [APT] has been buzzing with heightened activity over the past week. The transaction surge has propelled the network to achieve yet another significant milestone. The burning question is: How have other crucial metrics responded to this exciting development?
Realistic or not, here’s APT market cap in BTC’s terms
Aptos hits milestone transactions
Aptos shared an exciting update on 5 July regarding its network’s transactional activity. There has been a remarkable surge in transactions in the past few days. The total number of transactions has skyrocketed, crossing the impressive milestone of 1.5 million in the past week.
A closer look at the daily transaction figures showed a range of intriguing numbers. The lowest recorded transactions hovered around 178,000 to 179,000, indicating a solid baseline of activity. On the flip side, several days witnessed transaction volumes exceeding 200,000, with the highest peak reaching 230,000.
Delving into the deeper analytics of the scanner, it became evident that the platform witnessed an astounding accumulation of over 172 million transactions to date. Furthermore, considering the average transaction rate, Aptos has been operating at an impressive pace of 11.61 transactions per second (TPS).
Upon examining the scanner data more closely, it became apparent that the Aptos network has experienced a notable presence of active addresses over the past week. The lowest count of active addresses during this period was nearly 17,000, while the peak reached over 21,000, indicating a consistent and engaged user base.
Additionally, the metric tracking new account creations revealed a continuous inflow of fresh users. As of the latest recorded data on July 4th, Aptos witnessed its highest number of new users in the past seven days, surpassing an impressive count of 15,000.
TVL and stablecoin market capitalization
A look at the DefiLlama chart revealed a fascinating correlation between the Total Value Locked (TVL) and the stablecoin market cap on Aptos. Both indicators exhibited a similar trajectory, displaying a sideways trend.
As of this writing, the Total Value Locked stood at approximately $43 million. The accompanying chart reflected this stable pattern, suggesting that the TVL has been relatively consistent over the recent period.
Likewise, the stablecoin market cap on Aptos followed suit, reaching over $48 million as of this writing. The corresponding chart echoed this sideways movement, signifying a steady state in the market cap of stablecoins.
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Aptos price trend
Aptos (APT) is experiencing a downtrend at press time when analyzed on a daily timeframe. The continuation of this downward movement can potentially transition Aptos into a bear trend, as indicated by its Relative Strength Index (RSI).
As of this writing, Aptos was trading at around $7.4, reflecting a decline of more than 2.7% from previous levels. Furthermore, it remained below its short-term moving average (yellow line), which acted as an immediate resistance level.