Last Updated on November 6, 2022 by Bitfinsider
Investors in Aptos (APT) may have had high hopes for the freshly built network. The blockchain, however, consistently shown why it could be challenging to “fine-tune the web3 experience” for its users.
Why, you ask? Aptos Explorer, however, indicated on October 21 that the network was only processing eleven Transactions Per Second (TPS). This was a low rate for a blockchain that was known as the “Solana Killer.”
On November 5th, the story underwent a shift. However, it fell far short of the thousands of transactions that many investors had anticipated. According to Aptos Explorer, as of November 5th, the network’s TPS was 19, with the number of validators remaining at 102.
APT’s performance also declined by 0.19% during the past 24 hours, and at the time of writing, it was trading at $8.03.
The Aptos gain marked a recovery following a significant drop to $7.19 from $8.23 on 2 November. However, without a few underlying elements, the rejuvenation might not have been conceivable. In addition to the 58% increase in volume, the Chaikin Money Flow (CMF) had left the -0.24 zone it had been in on November 4 according to APT’s four-hour chart.
It was clear that investors had provided the network with enough liquidity because it had a value of -0.07. This suggested that APT has recently been able to attract a lot of interest from the cryptocurrency community.
Will APT redeem itself?
According to on-chain analysis, Aptos appeared to be having trouble adjusting to the realities of the market. This was due to the fact that its initial dominance, which had helped it spark in social media and search, had clearly diminished.
At the time of publication, Santiment revealed that its social dominance on November 5 had dropped dramatically from 2.105% on October 24 to 0.225%. Additionally, development activity was not at all high. The warning signs 6.5 resembled those of an abandoned ship. However, given that APT didn’t appear to require a strong on-chain performance to succeed, this might not be enough to concern APT investors.
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