Aptos (APT) Inks 25% Gain After Hitting A New Milestone – Details
August 15 2024 - 3:30PM
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Aptos (APT) goes against the market’s general downward momentum.
According to CoinGecko, the token is up more than 25% since last
week, a good sign despite the broader market dipping by 3% in the
past 24 hours. Related Reading: Bitcoin SV Makes A Surprise
Move With 10% Uptick – Details The network is breaking new ground
today. The Aptos main X account recently announced that their
platform achieved a new high in transactions per second (TPS), a
metric that is based on how fast the network can process
transactions without any downtime. This win shows that Aptos can
punch above its weight, competing with big players like Solana and
Ethereum in the highly-stacked crypto market. Achievement Unlocked:
High TPS Creates New Hype For Aptos According to Aptos, the network
broke the 4,000 real-time transactions per second threshold, having
a peak of nearly 12,500 TPS yesterday. The network is flexing its
muscle as this contributed greatly to APT’s current price
range. 📈@Aptos facilitated ~50x more daily txs than
@ethereum (L1) and ~10x more than @base (L2).
pic.twitter.com/JayZAPlluD — Token Terminal (@tokenterminal) August
14, 2024 The achievement has been applauded by users on the
platform with replies to the post ranging from “amazing” to “Let’s
break all the (expletive) records.” The hype generated by this
achievement was further boosted as Token Terminal, a blockchain
analytics platform, stated that Aptos processed more transactions
than both Ethereum and Base combined. Related Reading:
HODLing Resurgence? 374,000 Bitcoin Transfer Ignites Crypto
Recovery “@Aptos facilitated ~50x more daily txs than @ethereum
(L1) and ~10x more than @base (L2)” said Token Terminal, showing
that Aptos has the infrastructure and the network capacity to go
against the big players of the crypto community. Aptos is
also repeatedly compared to Solana, a direct competitor to Aptos,
with reevolution.apt stating that Aptos will flip Solana in the
future. This bullishness on the platform can be seen on-chain
as almost all metrics have gained significant upticks since then.
Rejection On This Level Might Threaten APT Gains As of writing, APT
has been rejected on a crucial price ceiling of $6.8, continuing
the downward trend it started yesterday. With this in mind, the
token might see more pain in the short term, possibly moving back
to more sustainable levels of momentum. However, APT poses a huge
threat to other layer-1s in the market. Boasting high throughput
with no downtime is a game changer to the overall user experience
on the platform. But the token’s current position is still
threatened by the overall market momentum which, as it currently
stands, is bearish as the market continues to slip under the
pressure of the bears. In the short term, investors and
traders should remain cautious while watching the general market
movement as any indication that the dip will continue in the next
couple of days will hurt profits. However, playing the long game
will benefit them as the token’s current position opens up $7.6
once conditions become bearable. Featured image from NullTX, chart
from TradingView
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