Aptos TVL Growth Hints Investors Are Confident in the Market, Flips the Stablecoins Market Cap

Total value locked (TVL) has been instrumental in underscoring Aptos' [APT] growth. As is the case for many other crypto protocols, the TVL regressed since April

Aptos [APT] burnt down, TVL falling, Tadao了稳setting币性轻到了了

Total Value Locked (TVL) has helped highlight the growth of Aptos [APT]. Like many other crypto protocols, TVL showed a solid recovery in Q1 2024 before regressing since April.

Aptos' TVL declined between April and the first week of July, falling from its year-to-date high of $429.66 million on April 1st. By June 6, approximately $124.04 million had been withdrawn from TVL.

Aptos' TVL has seen positive growth as confidence in the market has recently returned. The latter was valued at $380.65 million at press time.

Source: DeFiLlama

Stablecoins upend TVL: What it means for Aptos

Aptos' TVL growth suggests investors are once again confident in the state of the market , thus demonstrating a willingness to lock funds into the protocol.

Besides his positive TVL, AMBCrypto also observed a surge in stablecoins on the network. Aptos had a stablecoin market capitalization of $146.11 million at the time of writing. This is an increase of $39.5 million over the past seven days.

Due to this surge, the market capitalization of Aptos stablecoin exceeded his TVL. The high market cap to TVL ratio suggests investors may remain cautious.

This is in light of the recent volatility which explains why many people choose liquidity. While it may also indicate a decline in DeFi engagement, a positive trajectory provides some confidence.

Will APT maintain its bullish direction?

Meanwhile, both stablecoin and TVL metrics matched healthy growth. It reflects the recovery we have witnessed over the past few days.

APT, Aptos’ native cryptocurrency, traded at $7.01 at press time, after rising 27% from recent local lows.

Source: TradingView

APT was trading 63.9% off its year-to-date high despite the recent rally at press time. This performance primarily reflects the overall market situation.

In other words, APT's price action is likely to continue to be driven by overall market sentiment. Despite this, it is still trading at a discount compared to its previous highs.

Read Aptos [APT] Price Prediction 2024-25

APT's nearest major resistance level is just above the $10 price range. The MACD indicator confirmed that the bulls were in favor at press time.

RSI confirms a similar observation, indicating that there is still potential upside. APT had a market capitalization of $3.27 billion at the time of writing.

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