As Aptos crosses key milestone, will APT react?

• Aptos recently announced a milestone of 300 million transactions.
• APT has continued to gain after a brief price setback.

Aptos [APT] achieved a significant transaction milestone lately, demonstrating the network’s impressive growth despite its relatively recent establishment. Following this milestone, it’s essential to assess the performance of other key metrics and the APT token.

Read Aptos (APT) Price Prediction 2023-24

Aptos hits transaction milestone

Aptos made a significant announcement in a post on 27 October, stating that the community reached a remarkable milestone of 300 million transactions. This achievement marked a pivotal moment for the network.

As of the time of writing, data from Aptoscan revealed that the total transaction count exceeded 312 million, reflecting a continuous upward trend in transaction activity. It’s worth highlighting that the network operates as a layer-one solution, amplifying the significance of this transaction volume.

How did other Aptos metrics fare

Data from DefiLlama highlights a noteworthy development in Aptos, where the Total Value Locked (TVL) recently surged to historical levels. This surge marked a return to levels not witnessed since Aptos’ launch in October 2022.

The chart displayed an increase, surpassing $70 million, up from approximately $44 million earlier in October. At the time of this writing, TVL reached $73.2 million. This trend signified that, in parallel with the growth in transactions on the network, TVL has also experienced significant growth.

Moreover, DefiLlama data revealed a recent uptick in the network’s trading volume. Prior to this uptrend, the volume on the network had been consistently below 500,000.

However, recent data showed an average volume exceeding 1 million. As of this writing, the volume had exceeded 1 million.

Source: DefiLlama

Additionally, the stablecoin market cap also saw a recent spike, although it wasn’t sustained as consistently as the TVL. Despite this temporary decline, the stablecoin market cap of Aptos remained at approximately $50 million.

APT price flash positive signals for now

The daily timeframe chart of Aptos illustrated a remarkable performance over the past few days. Between 20 October and 25 October, the chart revealed an impressive gain of approximately 30% in value.

This surge in Total Value Locked (TVL) could be correlated with the recent upswing in price.

Source: TradingView

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Nonetheless, APT experienced a decline of over 5% in price on 26 October. However, it has since rebounded.

As of this writing, it was trading with a gain of over 3%, with its price hovering around $6.8. Additionally, the Relative Strength Index (RSI) line was situated above the overbought zone, signaling a strong bullish trend.