Solana
Aptos overtakes Solana in daily transactions
The layer 1 blockchain reached record throughput with 115 million transactions on May 24.
Activity on the Aptos layer 1 blockchain skyrocketed last week, with the network climbing 2,000%, from 875,000 transactions on May 21 to 16 million the next day.
According to Aptoscanthe network maintained its momentum on May 23 and 24, processing 97 million transactions on Friday and 115 million on Saturday, an all-time high.
Transactions calmed down to 24 million on May 25, but remain well above average.
Aptos aims to surpass 1 million transactions per second (TPS), and on May 24, it hit an all-time high of 1,078 TPS.
APT rose 6% today to $9.65, according to CoinGecko. At $4.1 billion, its market capitalization is down 30% from its March 26 peak of $7.1 billion.
APT Price
The increase in transactions now puts Aptos ahead of some leading blockchains. Solana, which usually comes first for transactions, recorded 32 million, according to Coin98 Analysis. Sui and Near Protocol complete the top 4 with 19 million and 9 million respectively.
It appears that a number of factors are driving users to use Aptos. Thala Labs, a DeFi liquidity engine, is integrate USDM for tokenization on Aptos, and the TruFin protocol is allow Institutional quality staking on the network.
However, some users count that transaction spikes happen all the time, usually driven by bots or voting activity on proof-of-stake ecosystems like Aptos. Time will tell if this renewed activity is temporary.
Aptos is a Layer 1 expanded by former Facebook employees who received a lot of hype in the build-up to its launch in October 2022. The project touts scalability, the Move programming language, and a “people-centric user experience” are some of its key differentiators compared to existing Layer 1 networks.