- Aptos recently announced a milestone of 300 million transactions.
- APT continued to rise after a brief price drop.
Aptus [APT] recently reached a major transaction milestone, demonstrating the network’s impressive growth despite its relatively recent creation. After this milestone, it is essential to assess the performance of other key metrics and the APT token.
Read Aptos (APT) price forecast 2023-24
Aptos reaches transaction milestone
Aptos made a significant profit announcement in a post on October 27, stating that the community had reached a remarkable milestone of 300 million transactions. This achievement marked a pivotal moment for the network.
At the time of writing, data is from Aptoscan revealed that the total number of transactions exceeded 312 million, reflecting a continued upward trend in transaction activity. It is worth emphasizing that the network functions as a layer-one solution, increasing the importance of this transaction volume.
How did other Aptos metrics fare?
Dates of DefiLlama highlights a notable development in Aptos, where Total Value Locked (TVL) recently rose to historic levels. This increase marked a return to levels not seen since Aptos launched in October 2022.
The chart showed an increase of more than $70 million, compared to about $44 million earlier in October. As of this writing, TVL reached $73.2 million. This trend meant that, in parallel with the growth in the number of transactions on the network, TVL has also experienced significant growth.
Furthermore, DefiLlama’s data revealed a recent increase in the network’s trading volume. Before this uptrend, volume on the network was consistently below 500,000.
However, recent data showed an average volume of over 1 million. At the time of writing, the volume was over 1 million.
Source: DefiLlama
Furthermore, the stablecoin market cap also recently saw a spike, although not as consistently as the TVL. Despite this temporary drop, Aptos’ stablecoin market cap remained at around $50 million.
APT price is flashing positive signals for now
Aptos’ daily timetable chart illustrated a notable performance in recent days. Between October 20 and October 25, the chart showed an impressive increase in value of around 30%.
This increase in Total Value Locked (TVL) could be linked to the recent price increase.
Source: TradingView
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Nevertheless, APT experienced a price drop of more than 5% on October 26. However, it has since recovered.
At the time of writing, it was trading with a gain of over 3% while hovering around $6.8. Moreover, the Relative Strength Index (RSI) line was above the overbought zone, indicating a strong bullish trend.
