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.
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.
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.
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