Journalist
Posted:
- More than 1,000 inscriptions have been deployed on the Aptos network.
- Aptos’ TVL has reached the $100 million mark.
The Aptos [APT] network prepares for inscriptions after the latest announcement. What is the current status of the network and what potential impact could this development have on it?
Aptos APT-20 completes its first inscription
Aptos inscription recently announced the successful completion of the first platform registration. According to APT-20 statistics, more than 1,000 inscriptions have been deployed.
More than 5.5 million registration transactions have also been carried out. Moreover, the platform now has more than 32,000 holders.
With the rising popularity of inscriptions on Bitcoin [BTC]the most notable effects were observed for fees and transactions. The network saw a significant increase in the number of transactions and set new records during this period.
The increased transaction activity also resulted in a significant increase in reimbursement volumes, reaching record figures on par with transaction data.
An investigation of EVM compatible networks revealed that inscriptions similarly influenced their fee structures and transactions.
The analyzed graph showed that certain platforms had a record number of transactions attributed to registrations. In line with the patterns observed on Bitcoin and EVM platforms, Aptos may also witness a rise in the number of transactions.
This increase in transaction volume could also lead to an increase in network costs.
Current volume and transactions on Aptos
The Aptos network has seen a remarkable rise transactions in the last 24 hours. At the time of writing, the number of daily transactions exceeded 3 million.
This represented a remarkable increase of over 39% in transaction numbers over the same period.
Despite this increase in the number of transactions, data from DefiLlama showed that there was no significant impact on the network volume. The current volume, approximately 3 million, reflects an increase without substantial additional volume.
While volume maintained a consistent trend, the network’s Total Value Locked (TVL) showed an upward trend. According to the graph, TVL has crossed the $100 million mark, indicating a positive development.
APT maintains a strong bull trend
Analysis of Aptos’ daily timeframe chart showed that it had gone through a period of trading gains in recent days. Despite this, cumulative gains have remained within 1%.
How much are 1,10,100 APTs worth today?
At the time of writing, the trading value was around $9.3, indicating an upside of less than 1%. Despite this slight increase, the price continued to show a strong bull trend.
Source: TradingView
The Relative Strength Index (RSI) was over 60 at the time of this analysis, highlighting the strength of the prevailing bull trend.