Aptos user transactions hit record high, APT eyes over 20% gains

Aptos user transactions hit 97.488 million on Friday, May 24, hitting a new milestone for APT.
User transactions per second reached 27,000, another record for the public blockchain.
APT price sustained nearly 6% gains in one week, on Binance.

Aptos (APT) user transactions in a single day reached 97.488 million, according to data from Aptoscan. The number of user transactions and Transactions Per Second (TPS), both metrics hit a record high, supporting the thesis for price gains in APT.

The rise in transaction-related metrics can be attributed to Tapos, a viral clicker game where users can earn rewards.

Aptos eyes 20% gains in APT price

Aptos is a Proof-of-Stake (PoS) blockchain developed by former Facebook employees with a primary focus on delivering a faster and secure chain for smart contracts. APT hit 97.488 million transactions in a single day, on account of the Tapos game in the ecosystem.

APT hit another key milestone with TPS climbing to 27,000 in a single day.

Data from Aptoscan shows the total transactions, supply, active validators, and user transactions per second, in the chart below.

Aptos user transactions per second

Aptos is currently consolidating below the April 22 high of $10.41. APT price could add over 22% to its value in the coming week, likely to fill the Fair Value Gap (FVG) between $11.73 and $10.41.

A 22% rally would imply APT climbs to the midpoint of the FVG, once the inefficiency is filled, APT could resume its decline. The Moving Average Convergence Divergence (MACD) indicator shows green histogram bars, signaling underlying positive momentum in APT price.

The Relative Strength Index (RSI) is 50.59, above the neutral level of 50. The momentum indicator supports gains in APT and is in line with APT price gains in the coming weeks.

APT/USDT 1-day chart

Looking down, if APT price closes below the $8.28 low, it could invalidate the bullish thesis. In that case, APT could sweep liquidity at the May 20 low of $8.01.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.