Aptos vs Polygon – here the race stands now

  • Aptos outperformed Polygon and Sui by a large margin in terms of transaction activity
  • APT and MATIC prices rose while social volumes also grew

Aptos [APT] It was one of the few networks that failed to get the same amount of attention in the bull market as the memecoin sector or major cryptocurrencies.

Transactions are on the rise

However, Aptos has recently seen a surge in activity, overtaking Sui Network for the second highest number of daily transactions processed in the past 24 hours. More than 16.4 million transactions were made on Aptos, a significant portion of which, more than 10 million, were driven by the Tapos Cat game. This tapping game allows users to fund their Tapos wallet with APT, a native cryptocurrency on the Aptos blockchain, and “tickle” their virtual cats for HEART rewards.

With over 86 million transactions and 50,000 accounts created to date, Tapos Cat has emerged as a popular choice for users, similar to SPAM SUI on the Sui Network.

Source: X

Due to the significant increase in activity on the Aptos network, the protocol was able to outperform major cryptocurrency networks like Polygon as well.

If this trend continues and Aptos continues to see an increase in its activity, it may pull titles from other networks like Polygon as well.

Source: Artemis

However, it’s important to remember that this increase may not translate into long-term dominance for Aptos. Maintaining momentum requires sustained innovation and a wide range of applications. Additionally, Polygon has a strong user base, well-established DeFi applications, and a cutting-edge network, making it a tough competitor to take down.

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In other areas outside of activity, Aptos has lagged behind Polygon. In terms of DEX (decentralized exchange) volumes, Polygon has retained its dominance. In terms of TVL (total value locked) on the network as well, there was a huge gap.

For Aptos to catch up with Polygon, it will have to see significant growth in both areas.

Source: Artemis

Consider the price

In terms of price action, both APT and MATIC had a great week.

In the past seven days, APT stock has risen 4.7% while MATIC stock has risen 2.1%. In terms of social media popularity, APT lagged behind MATIC by a large margin.

AMBCrypto’s analysis of Santiment’s data also revealed that MATIC’s social volume has increased meaningfully, compared to that of APT.

Read Aptos [APT] Price forecasts 2024-25

Source: Santiment

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