In terms of transaction activity, Aptos has significantly outperformed Polygon and Sui. Both APT and MATIC prices surged, accompanied by increased social volumes.
However, despite these gains, Aptos (APT) did not attract as much attention during the bull run compared to meme coins or major cryptocurrencies.
Surge in Activity on Aptos Network
Recently, Aptos has experienced a significant surge in activity, surpassing Sui Network to process the second-highest number of daily transactions in the last 24 hours. Aptos facilitated over 16.4 million transactions during this period, with a substantial portion—over 10 million transactions—attributed to the Tapos Cat game. This clicker game allows users to fund their Tapos Wallet with APT and interact with virtual cats to earn HEART rewards.
Tapos Cat has garnered attention with over 86 million transactions and 50,000 accounts created so far, resembling the popularity of SPAM SUI on the Sui Network.
Due to this surge in activity, Aptos has outperformed major cryptocurrency networks like Polygon. If this trend continues, Aptos may attract addresses away from other networks, including Polygon, bolstering its position in the market.
Challenges for Aptos in Competing with Polygon
While Aptos has recently shown a surge in activity, maintaining long-term dominance requires continuous innovation and a diverse range of applications. The sustainability of this momentum remains crucial for Aptos moving forward.
Polygon boasts a robust user base, established DeFi applications, and a well-developed network, posing a formidable challenge for Aptos to surpass.
In areas beyond transaction activity, Aptos trails behind Polygon. Polygon maintains dominance in decentralized exchange (DEX) volumes and total value locked (TVL) on its network, highlighting a significant disparity.
To narrow the gap and compete effectively with Polygon, Aptos will need substantial growth in these areas, demonstrating increased adoption and usage across its platform.
Source: Artemis
Price Movement and Social Media Popularity: APT vs MATIC
Price Performance: Both Aptos (APT) and Polygon (MATIC) showed positive price movements over the past week. APT increased by 4.7%, while MATIC grew by 2.1%, reflecting a strong performance for both cryptocurrencies in the market.
Social Media Popularity: Despite the price gains, APT lagged significantly behind MATIC in terms of social media popularity. MATIC garnered notably higher social media engagement compared to APT during this period, as indicated by analysis of Santiment’s data.
Insights from Santiment: According to Santiment’s data analysis, MATIC experienced a substantial rise in social volume, underscoring its increasing presence and discussions across social media platforms compared to APT.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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