Aptos Shows On-Chain Performance Impressive, Singi Solana

Aptos shows impressive on-chain performance, competitive Solana (Photo; Doc. Coin Culture)

JAKARTA - Aptos (APT), emerged as a serious competitor to Solana (SOL) and attracted the attention of investors. In recent months, Aptos' on-chain performance has shown impressive metrics, and more and more parties are paying attention to these developments. Bitwise Chief Investment Officer (CIO), Matt Hougan, gave his views on this phenomenon and explained why Aptos deserves attention.

Hougan shared the latest data on social media platform X regarding the surge in the number of daily transactions and active addresses on the Aptos network. According to him, this data is very prominent compared to other graphs that he studies every week.

One of the graphs shared by Hougan shows that the number of active addresses on the Aptos network reaches an all-time high (ATH). This increase is a strong indicator that the Aptos ecosystem is increasingly in demand, although the price of APT is still down about 50% from the previous ATH at 19.92 US Dollars (Rp310,054). However, interestingly, the price of APT has increased by more than 130% since its lowest point in August 2024, which is 4.303 US Dollars (Rp66,976).

Currently, APT is trading in the range of 10.11 US Dollars (Rp157,362), recording a nearly 20% spike in just the past day. These figures show that although the crypto market is in turmoil, Aptos has managed to maintain its appeal and show potential growth in the future.

According to Daily Hodl information, Aptos was launched on October 18, 2022 and used an AptosBFT consensus mechanism combined with the Move programming language, which is designed to maximize transaction security and speed. Although still relatively new, Aptos has shown strong competitiveness with rapid transaction growth and network activity.

Hougan also mentioned that Base, the Ethereum layer-2 (ETH) network developed by Coinbase, deserves similar recognition because it continues to set ATH records in various blockchain metrics, including the number of transactions.

Furthermore, Hougan talks about factors that could trigger an "explosion" in the crypto market in the fourth quarter of 2024. According to him, conditions such as cutting interest rates by the Federal Reserve, positive results from the November election, as well as the absence of major negative surprises such as major hacking or legal issues, could be a catalyst that drives the market towards new ATH.

He also noted that the history of crypto markets is often colored by unexpected surprises, including the release of locked Bitcoin from bankrupt exchanges such as Mt. Gox or the release of government assets. If these kinds of things can be avoided by the end of the year, Hougan is optimistic that the crypto market will see a significant spike.