Aptos Network Achieves New Milestones as Activity and Stablecoin Transactions Surge

The Aptos blockchain is making headlines and setting new records for network activity and stablecoin adoption.

Recent data from Artemis informs us that the number of active addresses on the Aptos network has reached an unprecedented 16.7 million per month. This trend is nothing short of spectacular and reflects the blockchain’s growing momentum. On January 29, we hit a high of 1.7 million in daily active addresses. Stablecoin transactions on Aptos are also reaching new heights, with both USDC and USDT hitting record figures.

Explosive Growth in Active Addresses

A Layer 1 blockchain, Aptos is known for high performance. Above all, it is rapidly gaining a user base. The latest numbers are in, and they are impressive: a network with a monthly active address count of more than 16.7 million. That’s getting up there with some of the more relevant appearances in the cryptosphere.

The network’s daily operations have also reached new heights, with 1.7 million active addresses noted on January 29. Such figures speak to how Aptos has inserted itself into the crypto conversation, as more and more users now engage with not just dApps but also financial services in the Aptos ecosystem. Several things are working in Aptos’ favor these days. For one, its focus appears to be on not just scalability but also security and performance. Aptos also seems to be aiming for a better user experience, which tends to go hand in hand with dApps that have a higher and more appealing onboarding potential. That said, the apps and services being built on Aptos also tend to speak to it being an “environment” that users actually want to engage with.

Surge in Stablecoin Transactions

There has been a continued rise in active addresses, and the adoption of stablecoins on Aptos is also witnessing remarkable growth. The issuance of Aptos-native USDC has now reached $62.32 million, and that means there is a strong demand for a stable and efficient on-chain digital dollar. The presence of native USDC on the network allows uses to engage in secure and cost-effective transactions. It has been said that USDC on Aptos functions in the same capacity as a conventional digital dollar. When it comes to payments on Aptos, our USDT transaction count has recently gone from zero to over 300,000! We’re talking about a 30x return in the number of transactions in just six weeks! Meanwhile, Aptos has been experiencing record high daily swap numbers—10K+, then 13K+—for USDT in the same time span.

The vital portion that stablecoins occupy in the larger cryptocurrency economy is one of liquidity and stability. When the larger market for crypto is having a tumultuous period, as it has several times in 2022, one can almost count on the fact that the price of the stablecoin won’t go far from its intended (and promised) peg. Moreover, many who interact with the crypto economy extensively use these instruments for efficient and effective blockchain transactions. And what we have seen recently is that these are all true also for the adoption that Aptos is seeing with regards to these digital dollars.

Aptos’ Growing Adoption and Future Outlook

The most recent data highlight Aptos’ vigorous upward path as it steadily attracts both users and developers. The network’s capability to handle a large volume of transactions while still being efficient and relatively inexpensive gives it an edge in the competitive blockchain world. The increasing number of stablecoin transactions, in particular, points to a pivot towards Aptos as a center for DeFi and on-chain financial dealings.

More and more, the projects that are building in the Aptos ecosystem are relying on its infrastructure for their financial interactions. If the current trend keeps up, Aptos could easily become a top-tier network in the blockchain space, mostly because it’s willing and able to make the necessary infrastructure improvements to serve its users better and at a lower cost. The participation of the community in both the usage and building of projects in this network is now at an all-time high. When Aptos looks over its shoulder at all of the recent record-breaking numbers, it has to feel pretty good about its prospects.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: jemastock/123RF // Image Effects by Colorcinch