User growth on Aptos proves fleeting as active and new addresses plunge over 40%

The seven-day moving average (7DMA) of the number of active addresses on Aptos has dropped to a yearly low of approximately 644,000. This marks its lowest level since the third week of November 2024 and continues a sharp downtrend that began after hitting an all-time high in February 2025. 

Specifically, on Feb. 1, the figure peaked at 1.56 million after a steady seven-month climb that saw gradual and consistent growth. However, in the three months since that peak, active addresses have fallen by over 40%.

Meanwhile, the 7DMA of the number of  new addresses on Aptos has followed a similar pattern. From August 2024 to February 2025, this figure rose steadily to a record high of 525,000 new addresses on Feb. 1. Since then, this figure has experienced an even steeper decline of over 80% over the past three months.

The parallel drop in both active and new addresses strongly suggests that the increase in user activity from August 2024 to February 2025 was heavily driven by newly created addresses that lacked long-term retention. In other words, much of the address growth appears to have been "non-sticky," failing to translate into meaningful user engagement. This implies a surge of low-value addresses, such as bots, airdrop farmers, or short-term opportunistic participants, rather than genuine, recurring user growth.

The price of the APT token itself has declined by over 35% since Feb. 1.

This is an excerpt from  The Block's Data & Insights newsletter . Dig into the numbers making up the industry's most thought-provoking trends.