Aptos On-Chain Thematic Report: Daily Transaction Volume Reaches 326 Million, TVL Grows Nearly 300%
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Aptos On-Chain Thematic Report: Daily Transaction Volume Reaches 326 Million, TVL Grows Nearly 300%
Understanding Aptos user trends, covering DeFi and consumer sectors on the chain, and exploring emerging protocols being built on this network through data analysis.
Navigating Web3 tides with focused insightsAuthor: OurNetwork
Translation: TechFlow
Welcome to the latest installment of our deep dive series on emerging ecosystems. Here, we use data-driven on-chain analysis to showcase the overall health and growth of new blockchain ecosystems.
Today, we're excited to introduce Aptos—a high-performance Layer 1 blockchain. Launched on mainnet in October 2022, Aptos has continued to grow throughout 2024. On June 8, 2024, Aptos achieved a record high of 1.2 million daily active addresses, while averaging 180,000 daily active addresses in Q3 2024—an increase of 28% compared to Q2. Additionally, Aptos’ total value locked (TVL) has surged by 294% year-to-date, rising from $174 million to $685.5 million, with cross-chain transaction volume reaching $1.7 billion this year.
This report dives into user trends on Aptos, covering DeFi and consumer applications, and explores emerging protocols building on the network through detailed data analysis.
Aptos Deep Dive Report
Uyen Nguyen | Website | Dashboard
Aptos Sets L1 Daily Transaction Record with 326 Million Transactions in a Single Day; Consumer App Usage Surges
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Since launch, Aptos has attracted nearly 22 million users, adding 679,000 new users in the week of August 19 alone. Key milestones include the integration of Tether’s USDT—the first major stablecoin introduced on a Move-powered ecosystem—and processing over 326 million transactions in a single day in August. The surge was largely driven by Tapos, a game developer, launching its second game—a "click-to-earn" app—that generated over 533 million transactions within just three days in August.
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Since launching less than two years ago, Aptos has drawn in nearly 22 million unique users, with steady growth continuing. The weekly average of on-chain daily active addresses (DAAs) has tripled since the beginning of the year, rising from 65,000 to 180,000.
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To date, Aptos has recorded $1.7 billion in cross-chain transaction volume across 5.2 million distinct cross-chain transactions, primarily powered by LayerZero's Stargate Bridge. Earlier this year, between March 1 and May 1, Stargate’s Aptos campaign incentivized 71% of that volume—$1.2 billion. Since the campaign ended, weekly cross-chain transaction volume has dropped by over 90%, averaging only $4 million over the past three months, down from $150 million during the campaign period.
Zachary Roth | Website | Dashboard
In 2024, TVL Grows Nearly 300% as New Protocols Launch and the Ecosystem Matures
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Aptos’ total value locked (TVL) is on the rise, currently standing at $685.5 million—an increase of 294% since the start of the year. On-chain, 26% of TVL ($177.4 million) is concentrated in Aries Markets, a leading lending protocol. Another 20% ($136.5 million) is in Amnis Finance, a liquid staking protocol, and 19% ($129.4 million) in Thala, a multi-product DeFi hub. Together, these three protocols account for two-thirds of the chain’s total TVL. Although Aptos’ TVL peaked at $778.9 million in March, recent partnerships with Ondo Finance and Securitize, along with a suite of product launches under Aptos Labs’ Ascend program, signal strong potential for institutional capital inflow.
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Aptos currently has a stablecoin market cap of $180.2 million, with USDC accounting for 60% ($108.4 million). Stablecoin market cap has grown 3.6x since the start of the year (from $49.3 million). The integration of Tether’s USDT is expected to bring significant additional liquidity to Aptos, given USDT’s ~70% share of the stablecoin market and over $118 billion in circulation. DeFi protocols on Aptos, which now hold $685.5 million in TVL, are also poised to benefit from USDT’s introduction.
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The Aptos DeFi ecosystem continues to expand. New protocols such as Meso Finance, Superposition, Joule, Mizu, and Ziptos have launched, while others like Aave, Mirage, and Thetis are preparing to go live. Panora recently became the world’s third-largest decentralized exchange (DEX) aggregator by 24-hour trading volume, trailing only Jup and 1Inch. Meanwhile, Merkle has accumulated over $13 billion in trading volume and averaged more than $250 million in weekly volume during August—just ahead of its token generation event (TGE) on September 5.
Econia
Econia Labs | Website | Dashboard
Econia’s Total Trading Volume Exceeds $250 Million
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Econia is an ultra-parallel on-chain order book operating on Aptos. One of the key advantages of an order book is capital efficiency—it achieves better pricing than AMM-based DEXs by concentrating liquidity. This is evident in Econia’s performance: it boasts a 24-hour trading volume of $550,000 with only $1.65 million in total value locked (TVL), achieving a capital efficiency ratio of 0.331.
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The APT-lzUSDC trading pair on Econia has maintained consistent 24-hour trading volume between $500,000 and $1 million, peaking at $1.7 million on August 13.
Kana Labs
Kana Labs | Website | Dashboard
Kana’s DeFi Suite Surpasses $250 Million in Total Trading Volume, with Over 3,700 Monthly Users
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Kana Labs offers a DeFi trading suite integrated across more than nine blockchains, including both EVM and non-EVM chains like Aptos. Their product suite includes a cross-chain DEX aggregator, a gas-free spot marketplace supporting advanced order types, and perpetual options. Year-to-date, their DEX aggregator has processed $308 million in cumulative trading volume, exceeding $11 million per day during the first three days of September, with a record high of $12.4 million on August 31.
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Kana Labs partnered with SK Telecom to successfully onboard over 20,000 Web2 users in South Korea onto the “T Wallet.” Powered by Kana Labs’ cross-chain liquidity and bridge aggregation, T Wallet enables users to swap tokens directly from their wallet. This collaboration not only strengthened Kana Labs’ presence in the Korean market but also placed its platform among the top five DeFi apps by monthly user growth percentage.
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Kana Labs’ Paymaster helps dApps attract more users on Aptos by sponsoring gas fees for transactions. Currently used by Kana Labs, Chingari, Wapal, and Eragon, the Paymaster processes over 250,000 transactions daily for more than 100,000 users.
Aptos Nears 22 Million Users in Two Years, Adds 1.5 Million New Users in Past Three Months
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To date, Aptos has attracted nearly 22 million users, with 1.5 million joining on June 3 alone. Several new consumer apps, such as Kade’s Poseidon and Nameless—which blends blockchain with real-world event experiences—have launched on Aptos, drawing in large numbers of new users. This growth trend is expected to continue, fueled by Myco, a fast-growing Web3 streaming platform. Myco recently completed integration with Aptos and is projected to bring over 3 million active monthly viewers to the network this year.
Flipside - @Sniper
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Five consumer applications on Aptos now attract over 25,000 unique monthly users (mUAW), led by Chingari, India’s short-video sharing app, with nearly 2 million monthly active users.
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Meanwhile, NFT activity on Aptos has seen a slight uptick. Last week, Aptos recorded $3 million in NFT trading volume, driven by Rarible’s launch on the network and a joint mint of 1 million NFTs within four hours by Aptos Monkeys, Kana Labs, Mercato, and Wapal earlier this year. Additionally, in Q2, KYD Labs partnered with Le Poisson Rouge—the first major U.S. venue fully on-chain—to successfully onboard hundreds of thousands of fans into Web3. Through integration with Aptos, KYD Labs has already attracted 50,000 fans and generated over $1 million in ticket sales within just 10 months.
Tapos
Tapos Generates Billions of Transactions, Attracts 80,000 Users, and Peaks at 5,000 TPS
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Tapos is a blockchain-based game combining "click-to-earn" gameplay with nostalgic virtual pet interactions. It helped Aptos break the daily transaction record for all smart contract platforms, reaching 326 million transactions in a single day.
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Tapos transactions are not simple: each one updates both a global shared counter and a user-specific counter, and uses on-chain randomness for users to purchase mystery boxes and mint reward NFTs. Despite this complexity, gas fees and transaction latency remain low. Even during Game 1 (May 2024), when transaction volume spiked over 2,500% in a single day, and during Game 2 (August 2024), when it nearly increased by 5,000%, gas fees remained stable and affordable at just 0.000008 APT per transaction.
nameless
nameless nyc | Website | Dashboard
Captured Over 1,000 Event Interactions Across 6 Weekend Street Festivals
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Nameless is an event platform that seamlessly connects physical and digital experiences through effortless token distribution. At the Bowery Land street festival in New York City, participants scanned QR codes to join a digital scavenger hunt and easily collect tokens from brand sponsors. Over the 11-day festival, 537 unique users made over 500 event interactions.
Nameless (Internal)
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Nameless also provided digital and physical engagement solutions for the Mallorca Championships (an ATP 250 professional tennis tournament). By leveraging digital collectibles and targeted event curation, the platform transformed casual fans into active community members. The campaign generated 380,000 social media impressions from 288 community members.
Nameless (Internal)
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