Aptos TVL Soars To A Record $74 Million, Reflecting Growing Investor Confidence
28 Oktober 2023 - 11:50AM
NEWSBTC
Since the second week of October, there was a noticeable surge in
demand for Aptos’ native cryptocurrency APT. This increased
interest led to a robust phase of Total Value Locked (TVL) growth.
Ultimately, this surge in demand for APT resulted in Aptos
achieving its highest-ever TVL value of $74 million during the
trading session on Thursday, October 26th. This surge in TVL is a
crucial metric for decentralized finance (DeFi) platforms,
showcasing the total value of assets, tokens, or cryptocurrencies
locked within the platform’s smart contracts. Related Reading:
Injective (INJ) Rules Weekend Top 50 Crypto Ranking With 60% Hike –
Here’s Why Aptos TVL. Source: DefiLlama Aptos Surges Amidst Rising
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 enhanced 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 etching a notable 31.5%
increase in the last seven days, according to figures by crypto
market tracker Coingecko. Source: Coingecko This rally can be
partially due to Aptos’ distinct position as a proof-of-stake
blockchain that uses a cutting-edge smart contract programming
language, to facilitate quicker and less expensive transactions on
its network. For this reason, a lot of cryptocurrency fans
frequently associate Aptos with certain decentralized Web3
applications, with a focus on the domain of non-fungible tokens
(NFTs). 1/ 🎉 Aptos Community, we’re celebrating #AptosOne in style!
Introducing Graffio: a unique canvas where YOUR art shapes a
special commemorative NFT. Dive in and be a part of Aptos history!
🎨🌐 pic.twitter.com/pKAaQtwhi3 — Aptos (@Aptos_Network) October 18,
2023 AptosOne recently launched Graffio, an NFT-based art display
platform. This tool simplifies NFT art creation, with standout
features including waived gas fees for social media logins and the
creation of an exclusive Graffio wallet. Related Reading: Bitcoin
Braces For $50 Billion Influx Following ETF Launch, Bitwise CEO
Says APTUSDT currently trading at $6.80 billion on the daily chart:
TradingView.com APT Price On Bullish Run With 24% Gain The
announcement led to a surge in Aptos (APT) price from $4.88 to
$6.03 between October 20 and 23, a nearly 24% increase, prompting
experts to predict a bullish trend continuing to $7.20 around end
of next month. Its current value of $6.69 reflects a notable climb
of 36% since mid-October, demonstrating a robust upward
trend. The increase in price underscores the promising
prospects for the future of Aptos and its indigenous digital
currency, APT. APT seven-day price action. Source: Coingecko As
Aptos achieves its all-time high in Total Value Locked (TVL), the
soaring trajectory of APT’s price and the platform’s advancements
in NFT technology have sparked significant optimism. The recent
market surge and robust momentum hint at the potential for
sustained growth and increased interest in APT. Despite concerns
looming over a possible market retraction, the record-breaking TVL
and the remarkable rise in APT’s value prompt a hopeful outlook,
suggesting that Aptos and its native token may be well-positioned
to weather potential market fluctuations and maintain their upward
trajectory in the near future. (This site’s content should not be
construed as investment advice. Investing involves risk. When you
invest, your capital is subject to risk). Featured image from
Shutterstock
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