Aptos (APT) is a Proof-of-Stake (PoS) consensus mechanism and is a Layer-1 blockchain, just like Bitcoin, Ethereum, and Cardano blockchains. The Aptos network has been trending with many improvements within the past weeks. A lot of activity has been happening on the platform, and more crypto users are finding their way to their network.
This is not merely a claim, as Aptos and other credible platforms have released data highlighting how the Layer-1 network has experienced massive growth in different metrics. Many positive things have happened at Aptos, but the number of transactions is perhaps the most prominent highlight.
Aptos Hit a New Transaction Milestone
It is verifiable that more crypto users are trooping inside the Aptos network to make transactions. On 5th July, a news reporting platform for the Layer-1 blockchain announced that Aptos reached a milestone in the number of transactions. Within the past week, Aptos crossed a whopping 1.5 million transactions on the platform, a huge milestone and a record.
A look through the details of the new milestone showed a steady increase in the number of users that interacted and made transactions with the network in the past week. Within the past 7 days before their announcement, more than 200 thousand transactions happened daily on the network.
The only day APTOS recorded the lowest number of transactions was June 29th and July 1st at 178 and 179 thousand, respectively. The platform's highest number of daily transactions happened on July 3rd when the network had over 230 thousand daily transactions.
"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," an Aptos insight page said on Twitter.
📊 Daily Aptos user transactions | 7D wrapped
— Aptos Insights 🖤🤍 | GM VN 7-8 July (🌞,🇻🇳) (@AptosInsights) July 5, 2023
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
Spike in New Users
The increase in daily transactions happening at Aptos won't be possible without the increasing number of users on the network. This may is also more reasons APTOS and other projects are set to release more tokens. The number of active wallet addresses on the platform has increased significantly within the past seven days.
Despite the market situation, Aptos has done wonders for a relatively new project with its active wallet address growth. Last week, the number of active wallet addresses recorded on the platform was approximately 17,000. But it peaked at 21,000 active wallet addresses. The number of new users registered on the platform alone on July 4th was 15,000.
The numbers of transactions and active wallet addresses aren't the only growth parameters on the Aptos network. APTOs TVL is approximately $43 million at the time of writing and shows consistent growth. The stablecoin market cap on Aptos has also crossed the $48 million mark, which is a good development.
Aptos Price Update
Maybe because of the market situation, Aptos token price has been slightly off and does not reflect the spike in its daily transactions and users.
At the time of writing, the price of Aptos stands at $7.18, which is a 4.19% decrease in the last 24 hours. On its weekly charts, it also suffers a loss of 0.62% while recording a large monthly loss of 11.9%. The Aptos token price is expected to react positively to the increased network activity.