Aptos stablecoins gain $39.5 mln in 7 days: Impact on APT?

• Aptos TVL’s upward trend resumed, but it was overtaken in the market capitalization of stablecoins by the network.
• APT has recovered over 60% of its local lows but still room to grow.

The total value locked (TVL), which has played a key role in highlighting Aptos’ [APT] growth. TVL has regressed, as it does for other crypto protocol, since April. It had previously indicated a robust recovery during Q1 2024.

Between April and July 1, Aptos TVL’s growth slowed, falling from its high year-to date of $429.66 millions on April 1. Up until the sixth of June, approximately $124.04 millions was taken out from the TVL.

Aptos has seen a TVL increase of 5% due to the recent rise in confidence on the market. As of the press date, it was valued at $380.65million.

Stablecoins Flip TVL: What does it mean for Aptos?

The growth of TVL at Aptos suggests that investors are once more confident about the current state of the markets, as they have locked their money in the protocol.

AMBCrypto has also noticed a rise in the number of stablecoins. Aptos had a stablecoins market cap of $146.11 million at the time of writing — a $39.5 million gain in the last seven days.

This surge has allowed for the Aptos stablecoins to market cap flip TVL. A higher ratio of market capitalization to TVL could mean that investors still remain cautious.

It is not surprising that people choose liquid assets in the face of volatility. The upbeat trend may indicate a lower DeFi involvement, but it also offers some assurance.

Will APT keep its bullish trajectory going?

The TVL metrics and the stablecoin metrics are both in line with healthy growth. This is a reflection of our recent recovery.

At the time of publication, Aptos native cryptocurrency APT was trading at $7.01. This is a 27 percent increase from recent lows.

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APT’s price was 63.9% below its highest YTD level at the time this article went to press. This is despite a recent rally. This is in large part a reflection on the current state of the markets.

APT’s price will most likely be affected by the general market mood. It is trading below its previous highs.

You can read more about it here Aptos’ [APT] Price Prediction 2024-25

APT’s nearest major resistance level lies just above the $10 zone. At press time, the MACD confirmed the bulls’ advantage.

RSI confirmed a similar conclusion, indicating that more upside potential was possible. APT’s market cap was $3.27billion at the time this article was written.