- Aptos outperformed Polygon and Sui by a significant margin in terms of transaction activity.
- APT and MATIC prices surged while social volumes grew too.
- Recently, Aptos has seen a surge in activity, overtaking Sui Network for the second-most daily transactions processed in the last 24 hours.
Discover how Aptos is outshining Polygon and Sui in transaction activity, and what it means for the future of these networks.
Transactions on the Rise
Aptos has recently experienced a significant surge in transaction activity, surpassing Sui Network to become the second-most active network in terms of daily transactions processed over the last 24 hours. Over 16.4 million transactions were recorded on Aptos, with a substantial portion, more than 10 million, driven by the Tapos Cat game. This clicker game allows users to fund their Tapos Wallet with APT, a cryptocurrency native to the Aptos blockchain, and “tickle” their virtual cats to earn HEART rewards.
With over 86 million transactions and 50,000 accounts created so far, Tapos Cat is emerging as a popular choice for users, similar to SPAM SUI on the Sui Network.
Comparative Performance
Due to the surge in activity on the Aptos network, the protocol managed to outperform major cryptocurrency networks such as Polygon. If this trend continues and Aptos maintains its activity levels, it may attract addresses from other networks like Polygon. However, it’s important to note that this surge might not translate to long-term dominance for Aptos. Sustaining momentum requires continuous innovation and a broader range of applications. Additionally, Polygon has a strong user base, established DeFi applications, and a well-developed network, making it a formidable competitor.
DEX Volumes and TVL Comparison
In areas apart from transaction activity, Aptos lagged behind Polygon. In terms of DEX (Decentralized Exchange) volumes, Polygon retained its dominance. The gap was also significant in terms of TVL (Total Value Locked) on the network. For Aptos to catch up to Polygon, it will need to see major growth in both these areas.
Price Movements and Social Media Popularity
As far as price movement is concerned, both APT and MATIC had a great week. In the last 7 days, APT climbed by 4.7% whereas MATIC grew by 2.1%. However, in terms of social media popularity, APT fell behind MATIC by a large margin. AMBCrypto’s analysis of Santiment’s data revealed that the social volume for MATIC rose significantly compared to that for APT.
Conclusion
In conclusion, while Aptos has made impressive strides in transaction activity, surpassing networks like Sui and challenging Polygon, it still has a long way to go in other critical areas such as DEX volumes and TVL. The recent surge in activity is promising, but sustained growth and innovation will be key to maintaining and building on this momentum. For now, Polygon remains a strong competitor with its established user base and robust network.
