Progress on Aptos Over the First Half of 2024: An Everstake Report

The first half of 2024 has been a game-changer for the @Aptos ecosystem! From record-breaking performance to soaring user adoption, here’s a report

Everstake, a professional staking service provider, highlighted the latest developments on Aptos, a layer-1 blockchain, in a recent tweet.

The average number of active accounts remained around 125,000, with notable increases in user activity on June 2nd and 8th, hitting 500,000 and 1,200,000 accounts, respectively. This implies increased interest and participation in the Aptos network, which reflects its rising user base.

1/7 Progress on Aptos Over the First Half of 2024: An Everstake Report ?

The first half of 2024 has been a game-changer for the @Aptos ecosystem!

From record-breaking performance to soaring user adoption, here’s a report of major milestones and trends on Aptos:… pic.twitter.com/UrkjXwSOKy

— Everstake (@everstake_pool) July 26, 2024

Moreover, the number of staking pools has increased from 105 to 109, while delegation pools have grown significantly from 18 to 31. This expansion has resulted in a total increase in nodes from 123 to 140.

The increase in delegation pools indicates that more users are prepared to delegate their tokens to trusted nodes, which is critical for network security and decentralization.

The Nakamoto coefficient, a measure of decentralization, has risen to 22, outperforming key competitors like Solana (19) and Sui (15). This development demonstrates Aptos move toward a more decentralized and resilient network.

As of January 1, 2024, the stake in delegation nodes was 118 million APT, or 12.9% of the overall stake. By June 30, 2024, this delegated stake had increased dramatically to 208 million APT, accounting for 23.8% of the overall stake, despite a modest decline from 908 million to 876 million APT.

The increase in delegated stakes reflects growing trust and involvement in the Aptos network. The number of delegators more than doubled in the first half of the year, from 21.9 thousand to 48.6 thousand, showing a wider embrace of staking by the community.

Variable Commission Rates and Increased Liquid Staking TVL Enhance Network Efficiency

Most nodes charge a 7% commission, with the lowest cost among all nodes being 2% (Everstake), and the highest being 100%. This range of prices allows customers to select nodes based on their chosen commission rates.

Total Liquid Staking TVL rose by 246%, from $56.8 million on January 1, 2024, to $196.7 million on July 1, 2024, indicating that liquid staking is becoming more popular and valuable on the Aptos network.

Aptos has also achieved sub-second latency, boosted throughput, and added more user-friendly features, thereby improving the entire user experience and network efficiency.

At the time of writing, Aptos’ native token, APT, is trading at $6.99, down 2.17% over the last 24 hours, following a corrective pattern in the mid-term analysis. This price movement represents the cryptocurrency market’s volatility and dynamism, which include frequent short-term swings.

On the other hand, CNF recently reported that Nansen has established the Aptos Growth Dashboard to give insights and increase community involvement in the L1 blockchain ecosystem.

Users should utilize this dashboard to make informed decisions regarding their Aptos ecosystem engagement based on dapp trends and network activity.

Additionally, as we previously noted, Aptos Connect, which uses Google logins to facilitate blockchain authentication, has been recognized. This functionality substitutes traditional secret keys or mnemonic phrases, allowing users to create and manage accounts more quickly.

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