Aptos [APT] outperforms other chains on this front, but here’s the “but” of it all

  • Aptos was the fastest of the major networks with a block end time of less than a second
  • The average transactions per second on the Aptos network have steadily declined since launch

While it’s still quite early, Aptos [APT] can safely be counted as one of the success stories of 2023.

The value of its own token has more than tripled on a year-to-date (YTD) basis, while its market cap exploded above $1 billion over the same period.

Amidst all the hype, on-chain analytics company Messari recently shared a major report on block finality times in blockchains. According to the report, Aptos is the fastest of the major networks with a median time-to-finality (TTF) value of less than one second.

Realistic or not, here is APT’s market cap in terms of BTC

Aptos has yet to realize its potential

Aptos has pitched itself as the fastest layer-1 blockchain, capable of processing more than 160,000 transactions per second (TPS). Unlike other blockchains, Aptos uses a parallel execution mechanism, one that helps reduce latency and generate faster transaction speeds.

With a very low TTF, as indicated by the aforementioned analysis, Aptos can be accessible to a large number of users at once. Especially when some of the other popular chains suffer from scaling limitations.

However, despite the big claims, the average TPS on the network has dropped steadily since its launch. In fact, it stood at just 5.51 at the time of writing.

Source: Aptoscan

One of the reasons behind the disparity could be that the chain’s limits have not yet been tested due to insufficient activity.

Solana [SOL], which APT has been consistently positioned against, has a slightly higher TTF range of 1-2 seconds. However, it is one of the fastest when considering the large number of nodes. Aptos has only 104 nodes.

How much are 1,10,100 APTs worth today?

Status of the Aptos network

Aptos recorded a significant decrease in the total amount deposited on its smart contracts. The Total Value Locked (TVL) is down more than 13% in the last 30 days.

Source: DeFiLlama

On the other hand, NFT trading volume picked up with a 24-hour increase of 134%, as of March 6, data from Santiment revealed.

In addition, the metric for development activities has risen sharply over the past week. This indicated that developers have been continuously working to clean up the glitches and improve network performance.

That said, investor sentiment has been negative over the past month. This may be due to a combination of regulatory uncertainties gripping the broader crypto market. Here it is worth highlighting APT’s disappointing price performance in February, a period in which it lost more than 30% of its value.

Source: Sentiment

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