See More

Aptos Network (APT) Usage Soars Following Chingari Integration

2 mins
Updated by Ryan Boltman
Join our Trading Community on Telegram

In Brief

  • Aptos Network saw an 800% increase in daily active users after integrating with video-sharing app Chingari.
  • The integration led to a surge in new accounts, with a record high of 97,565 new accounts created in one day.
  • Despite previous reliance on Solana, Chingari now refers to Aptos as its "preferred" layer one blockchain.
  • promo

Aptos Network has onboarded hundreds of thousands of new users after the video-sharing app Chingari integrated the blockchain. Since the Chingari integration, the number of daily active users on Aptos has increased upwards of 800% compared to a month ago.

The Indian social media platform was previously powered exclusively by Solana. But it began migrating to Aptos this month.

Daily Active Users and New Users Surge

Starting in mid-July, activity on the Aptos Network increased significantly. 

Aptos daily active users, Aptos daily active accounts, Aptos daily active wallets, Aptos daily active addresses
Aptos Daily Active Accounts (Source: Aptscan)

The number of daily active users spiked from less than fifty thousand on an average day to over 100,000 on July 15 and every day since. On Saturday 22, the metric hit an all-time high of over 180,000.

A coinciding surge in the volume of new accounts created suggests that much of the recent activity is being driven by new Aptos users. For example, Aptos hit another record high on Friday when 97,565 new accounts were created.

Aptos new accounts created per day
Aptos New Accounts (Source: Aptscan)

Chingari Embraces Cross-Chain 

Chingari first announced its cross-chain ambitions in February, stating that it wanted to expand its ecosystem to the Aptos Network, enabling users to access different blockchains from a single wallet.

It claims the move is intended to improve the user experience by offering a “more reliable, scalable, and secure platform with lower gas fees.”

Although the Aptos launch has been in the works for months, it was only in recent days that the Tik Tok rival started migrating users across chains, at which point Aptos’ network activity surged.

According to Chingari, since launching on Aptos, transactions between users are happening faster and more frequently.

The relationship between Aptos and Chingari also has a commercial element. In February, Aptos Labs invested an undisclosed sum to become an equity stakeholder in the Indian company.

Aptos’ Gain is Solana’s Loss

When it first announced its plans to connect to Aptos, Chingari said it did not intend to discontinue products and services built on the Solana blockchain. The firm insisted that these will continue to exist, and Solana-based users will receive GARI rewards in perpetuity. 

However, Chingari now refers to Aptos as its “preferred” layer one blockchain.

Moreover, while the number of daily active users on Aptos is around eight times higher than a month ago, Solana’s activity levels have stagnated.

Solana daily active wallets, Solana daily active addresses, Solana daily active users, Solana daily active accounts
Solana Daily Active Wallets (Source: Solscan)

Not so long ago, when comparing the two blockchains using this key metric, Solana easily trumped the younger Aptos Network. But Aptos is closing the gap. If it continues onboarding new users at the same rate it has in recent days, it could soon compete with Solana.

The Chingari app has more than 100 million downloads on Google Play and the Apple App Store. Of course, Chingari users don’t have to open a crypto wallet. But the video platform could be a major boost for adoption if it drives its user base to supported blockchains.

Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Frame-1944.png
James Morales
James is a London-based editor, writer and explorer of the cryptosphere who started his journalistic career writing about digital art before honing his craft as a financial technology reporter. From the latest innovation in digital assets to the evolution of Web3, he is perpetually fascinated by the technologies of decentralization.
READ FULL BIO
Sponsored
Sponsored