APT explodes as Aptos transactions surge 3570%: Last 24 hours retracement
- Transactions on the Aptos network increased by over 3,570% on August 13, driven by the launch of the Tapos Cat clicker game.
- Technical indicators pointed to a continued uptrend for APT as bulls dominated.
Transactions on Aptos (APT) increased by more than 3,570% on August 13, largely due to the launch of the Tapos Cat clicking game on the network.
Data from Aptoscan showed that daily user transactions on Aptos rose from 1.4 million on August 12 to over 51 million at press time, the highest level since May.
Source: Aptoscan
Additionally, user transactions per second (TPS) reached a record high of 14,340, marking the third highest in the network’s history. The network surpassed Solana’s (SOL) TPS, which was around 4,000 per second. Solana Explorer.
The notable network growth led to gains for the native token APT, which is up 30% over the past seven days.
Click game behind Aptos’ network boom?
The Tapos tap-to-earn game reached 79 million transactions, according to a X-Post (formerly Twitter). In this clicking game, users earn tokens by clicking on a virtual cat.
Despite the high user traffic on the Aptos network following the game’s launch, gas fees and speeds remained relatively stable.
The growth of the Aptos network, fueled by the Tapos game, mirrored the impact that Hamster Kombat had on the Toncoin (TON) blockchain.
About three months after Hamster Kombat launched on TON, TON reached an all-time high.
With the Aptos network already growing, the question is, can APT mimic TON’s rise to record highs?
APT Price Analysis
APT was trading at $6.83 at the time of writing, having recorded a 10% gain in 24 hours. The price was trading above the 200-day exponential moving average (EMA), which is a bullish signal.
Source: TradingView
The uptrend appears healthy following the formation of a golden cross where the 20-day EMA crosses above the 200-day EMA. This formation indicates a sustained long-term uptrend.
The Relative Strength Index (RSI) has also recovered and formed a higher low, confirming the bullish momentum. The indicator was at 65, showing room for further gains as APT had not yet entered the overbought zone.
Since bullish signals dominated, a sustained uptrend will lead to a price target at the 1.618 Fibonacci level at $8.62.
APT’s open interest, as seen on Coinglass, continued to show increasing activity in the futures market after jumping 15% from $66 million to $79 million.
Source: Coinglass
Read Aptos (APT) price prediction for 2024-25
In addition to the recent boom in the Tapos click game, decentralized finance (DeFi) activity on Aptos also pointed to further network growth.
Data from DeFiLlama showed that the total value locked on the Aptos network increased by 18% over the past seven days to $395 million at the time of writing.
