Since the second week of October, there has been a notable increase in demand for Aptos’ native APT cryptocurrency. This increased interest led to a strong phase of total value locked (TVL) growth.
Ultimately, this increase APT lawsuit resulted in Aptos reaching its highest-ever TVL value of $74 million during the trading session on Thursday, October 26.
This increase in TVL is a crucial metric for decentralized finance (DeFi) platforms, showing the total value of assets, tokens or cryptocurrencies locked within the platform’s smart contracts.
TVL suitable. Fountain: DefiLlama
Aptos emerges amid growing investor confidence
The increase in demand for Aptos’ native cryptocurrency, APT, further demonstrates growing investor confidence and interest in the platform’s utility, potentially indicating an expanded user base or improved use case scenarios within the Aptos ecosystem.
At the time of writing, APT was trading at $6.69, up 4.5% in the last 24 hours, and recording a notable increase of 31.5% in the last seven days, according to figures from crypto market tracker Coingecko.
Source: Coingecko
This rally may be due in part to Aptos’ distinctive position as a proof-of-stake blockchain that uses a cutting-edge smart contract programming language to facilitate faster and less costly transactions on its network.
For this reason, many cryptocurrency fans frequently associate Aptos with certain decentralized Web3 applications, focusing on the domain of non-fungible tokens (NFTs).
1/ Aptos Community, we are celebrating #AptosUno Fashion! Introducing Graffio: a unique canvas where YOUR art shapes a special commemorative nft.
Immerse yourself and be part of Aptos history! pic.twitter.com/pKAaQtwhi3
—Aptos (@Aptos_Network) October 18, 2023
AptosOne recently launched Graffio, an nft-based art exhibition platform. This tool makes creating nft art simple, with notable features including waiving gas fees for social media logins and creating an exclusive Graffio wallet.
APTUSDT currently trading at $6.80 billion on the daily chart: TradingView.com
APT price in bull run with 24% gain
The announcement caused an increase in the price of Aptos (APT) from $4.88 to $6.03 between October 20 and 23, an increase of almost 24%, leading experts to predict a trend bullish trend that would continue to $7.20 at the end of next month.
Its current value of $6.69 reflects a notable 36% rise since mid-October, demonstrating a solid bullish trend. The price increase underlines the promising prospects for the future of Aptos and its indigenous digital currency, APT.
APT seven-day price action. Source: Coingecko
As Aptos reaches its all-time high in total value locked (TVL), APT’s dizzying price trajectory and the platform’s advancements in nft technology have generated significant optimism.
The recent market rise and strong momentum hint at the potential for sustained growth and increased interest in APT. Despite concerns looming over a potential market pullback, APT’s record TVL and notable rise in value create a hopeful outlook, suggesting that Aptos and its native token may be well positioned to weather potential market fluctuations. market and maintain its upward trajectory in the near future.
(The content on this site should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk.)
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