As a seasoned crypto investor with a knack for spotting undervalued gems and a portfolio that has weathered multiple market cycles, I must say that Aptos (APT) is truly capturing my attention. The recent surge in its token price, defying the general downward trend of the market, is not just intriguing but promising.
As a crypto investor, I’ve noticed an encouraging trend with Aptos (APT). Contrary to the overall downward trend in the market, APT has shown significant growth, increasing more than 25% since last week. This is quite remarkable given that the broader market has dipped by 3% over the past 24 hours. According to CoinGecko, this could be a positive sign for Aptos’ potential resilience in challenging market conditions.
Today marks a significant milestone for the network, as the Aptos main account’s X platform has set a new record in transaction speed. This metric, known as Transactions Per Second (TPS), measures the network’s ability to handle transactions without any interruptions. This impressive feat demonstrates that Aptos is not only capable of holding its own but can even challenge established players like Solana and Ethereum in the intensely competitive cryptocurrency market, showcasing its strength and potential.
Achievement Unlocked: High TPS Creates New Hype For Aptos
As reported by Aptos, the network surpassed the 4,000 real-time transactions per second mark and peaked at around 12,500 transactions per second (TPS) yesterday. This impressive performance is strengthening the network’s capabilities, significantly impacting the current price range of APT.
@Aptos facilitated ~50x more daily txs than @ethereum (L1) and ~10x more than @base (L2).
— Token Terminal (@tokenterminal) August 14, 2024
1. Users on the platform have praised the accomplishment, with comments ranging from “incredible” to “We should shatter every record.” The buzz surrounding this achievement was amplified when Token Terminal, a blockchain analysis firm, announced that Aptos processed more transactions than both Ethereum and Basis combined.
According to Token Terminal, Aptos handles around 50 times more daily transactions than Ethereum (Layer 1) and approximately 10 times more than Base (Layer 2. This indicates that Aptos has a robust infrastructure and network capacity capable of competing with the prominent figures in the crypto sphere.
As a researcher examining the landscape of blockchain technology, I often find Aptos being likened to Solana, a notable rival in this domain. According to reevolution.apt, it’s predicted that Aptos could surpass Solana in the future.
The positive sentiment towards this platform is evident from the chain data, as most metrics have experienced noticeable increases since that time.
Rejection On This Level Might Threaten APT Gains
Currently, at the time of composition, the price of APT has been declined at a significant resistance level of $6.8, extending its falling pattern that began the previous day. Given this context, it’s plausible that the token could experience further drops in the immediate future, potentially returning to levels that offer more balanced momentum.
On the contrary, APT represents a significant risk for other layer-1 networks. Its ability to deliver exceptional throughput without any interruptions significantly enhances user experience across the platform.
However, despite its current location, the token’s safety remains questionable due to the prevailing market trend, which at present appears to be bearish. This is because the market is experiencing a downward push, driven by the bears.
In the near future, it’s advisable for investors and traders to exercise caution and closely monitor market trends, as any signs suggesting a prolonged dip in the coming days could negatively impact their profits. However, maintaining a long-term perspective could ultimately prove beneficial, as the current market conditions may offer an opportunity to gain approximately $7.6 once the market stabilizes.
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2024-08-15 22:36