Key Takeaways from Everstake Report: Liquid Staking & User Growth on Aptos
This growth is highlighted by several factors: A trend toward more monthly active users; tripled-digit rise in liquid staking TVL; surge in activity, with memecoins being a significant engagement contributor. Read the full report here, and scroll down for the higlights.
Unique Active Accounts Uptrend
Throughout 2024, the Aptos Network demonstrated significant growth in the number of monthly active accounts, signaling a surge in user adoption and Aptos' ability to onboard a diverse collection of users. There were 1.6 million active accounts in January with an average of 96,000 active accounts being added per day; by December there were 10.1 million active accounts with an average of 891,000 active accounts per day—representing a 531% increase in MAA.
A Strong Trend Towards Delegation Nodes
Last year saw a significant increase in delegation nodes — where APT token holders can delegate their tokens in exchange for staking rewards and the opportunity to participate in Aptos governance. The number of delegation pools more than doubled, increasing from 18 to 41, boosting the total number of nodes from 123 to 151 by December.
This rise is also an indicator of a continuous migration of the stake from staking pools to delegation nodes, emphasizing a trend where more users opt to delegate their tokens. Early in 2024, this secured 12.9% of the total stake (staking pools dominated the rest) with 118 million APT. At the end of 2024, the delegated stake seized 37.7% of the total stake with 339 million APT, decreasing the proportion of staking pools.
A Rise in Liquid Staking TVL
While overall Aptos TVL surpassed $1 billion in 2024, TVL with Liquid Staking saw a 780% growth while TVL that incorporates both Liquid Staking and Borrowed Coins experienced an increase of 1100%. Liquid staking alone grew from $56.8 million to $417.6 million (+246%) across five major liquid staking projects that contributed to this growth, including Amnis Finance, Thala, TrueFin (TruStake), Tortuga Finance, and Ditto.
Transactions Climbing Higher
This boost in the number of active accounts, nodes, and TVL contributed to the exponential growth of daily transactions throughout 2024, with all-time transactions exceeding 1.43 billion on Aptos. Aptos broke several daily transaction records in 2024: 97M transactions on May 24, which was quickly surpassed with 156M on May 25, then over 326 million on August 15, maxing out at 533 million over three days during the August Tapos game event.
However, even without those spikes, daily transaction numbers remain strong and indicative of a clear upward trend – showcasing Aptos’ impressive throughput.
Memecoins Among Significant Engagement Contributors
Another “north star” to indicate the escalation of adoption and user activity is the diversity of projects built on top of the Aptos. One of the most essential drivers of engagement highlighted in the Everstake report (along with liquid staking projects, stablecoins, and major TradiFi players landing on Aptos) are memecoins.
Memecoin projects on Aptos have proven their ability to drive massive community engagement and introduce new participants to the digital asset space. On the Aptos blockchain, thanks to the upgraded mempool for faster transaction propagation in particular and Aptos’ unique architecture in general, memecoins have emerged as a notable niche, including popular coins like GUI, CHEWY, LOON, UPTOS, DONK, SHRIMP, and many more.
2025 Looks Even Brighter for the Aptos Ecosystem
The Aptos Network saw notable developments in the first half of 2024, including architectural enhancements and ecosystem expansion. These advancements coincided with increased activity across various metrics starting in Q3, as highlighted in the report. The consistent upward trend observed in the report's data solidifies Aptos' position as one of the fastest-growing ecosystems in the blockchain space.