Aptos

Bitcoin

strong bull

<ul>
 <li>Over 1,000 inscriptions have been deployed on the Aptos network.</li>
 <li>Aptos’ TVL has entered the $100 million range.</li>
</ul>
The <a href="https://ambcrypto.com/search/aptos" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Aptos [APT]</a> network is preparing for Inscriptions following its latest announcement. What is the current status of the network, and what potential impact might this development have on it?
<h4>Aptos APT-20 completes its first Inscription</h4>
<a href="https://ambcrypto.com/aptos-assessing-what-caused-apt-prices-to-soar-by-double-digits/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Aptos</a> Inscription recently <a href="https://twitter.com/Aptos_Network/status/1738946081705128272?t=VpSbYsIsWOFJf6keNvbplg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">announced</a> the successful completion of its first platform inscription. As per APT-20 statistics, more than 1,000 inscriptions have been deployed. 
Also, over 5.5 million inscription transactions have been done. Furthermore, the platform now has over 32,000 holders.
With the rise in popularity of inscriptions on <a href="https://ambcrypto.com/search/bitcoin" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin [BTC]</a>, the most notable impacts were observed in fees and transactions. The network experienced a substantial increase in transaction numbers, setting new records during this period. 
The increased transaction activity also resulted in a significant rise in fee volumes, reaching record figures similar to the transaction records.
An examination of <a href="https://dune.com/hashed_official/inscriptions" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">EVM-compatible</a> networks revealed that Inscriptions similarly influenced their fee structures and transactions. 
The analyzed chart showed that certain platforms experienced a record number of transactions attributed to inscriptions. In line with the patterns observed in Bitcoin and EVM platforms, <a href="https://ambcrypto.com/aptos-logs-high-network-activity-in-q3-heres-what-caused-it/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Aptos</a> may also witness a rise in transaction numbers. 
This increase in transaction volume could also lead to a rise in network fees.
<h4>Current volume and transactions on Aptos</h4>
The Aptos network has experienced a notable rise in <a href="https://aptoscan.com/chart/transaction" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">transactions</a> within the last 24 hours. As of this writing, the daily transaction count was over 3 million. 
This represented a remarkable increase of over 39% in transaction numbers during the same period. 
Despite this rise in transactions, data from <a href="https://defillama.com/chain/Aptos?volume=true" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">DefiLlama</a> showed that there has not been a significant impact on the network volume. The current volume, around 3 million, reflects an increase without substantial additional volume.
While the volume maintained a consistent trend, the network’s Total Value Locked (TVL) has shown a rising trend. According to the chart, the TVL has broken into the $100 million range, indicating a positive development.
<h4>APT maintains a strong bull trend</h4>
Analysis of <a href="https://ambcrypto.com/aptos-dips-2-following-novembers-token-unlock/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Aptos’</a> daily timeframe chart showed that it had experienced a period of trading gains in recent days. Despite these, the cumulative gains have stayed within 1%.
How much are <a href="https://ambcrypto.com/convert/1-apt-to-usd" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">1,10,100 APTs worth today</a>?
As of this writing, the trading value was around $9.3, indicating an increase of less than 1%. Notwithstanding this slight uptick, it continued to show a strong bull trend.
<div id="attachment_360532" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/APTUSD_2023-12-25_12-12-12.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-360532" decoding="async" class="wp-image-360532 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/APTUSD_2023-12-25_12-12-12.png" alt="Aptos price trend" width="1475" height="785" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/APTUSD_2023-12-25_12-12-12.png 1475w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/APTUSD_2023-12-25_12-12-12-300x160.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/APTUSD_2023-12-25_12-12-12-1024x545.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/APTUSD_2023-12-25_12-12-12-768x409.png 768w" sizes="(max-width: 1475px) 100vw, 1475px"></a>
 Source: TradingView
</div>
The Relative Strength Index (RSI) at the time of this analysis was over 60, emphasizing the strength of its prevailing bull trend.&nbsp;

Will Aptos catch the Inscriptions fever?

AMBCrypto

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