Aptos’ TVL up $300 mln in 7 days: What it means for APT

Aptos TVL showing strength as its second anniversary nears.
The netflow of Aptos from CEX gives bullish sentiments.

As a seasoned crypto investor who has witnessed the rise and fall of numerous blockchain projects, I must admit that Aptos [APT] is one of the most intriguing investments I’ve encountered lately. The second anniversary of this Layer 1 blockchain is approaching, and it’s showing no signs of slowing down.

Since its debut in October 2022, Aptos [APT] has been steadily building traction and is now making a name for itself as a prominent player within the Layer 1 blockchain landscape.

In the run-up to its two-year mark, Aptos is drawing increased interest from both traders and financiers.

The primary reason behind the blockchain’s prosperity lies in its innovative application of Move technology, a feature that distinguishes it from other similar networks.

As an analyst, I’m observing that at the current moment, Aptos is trading near the $9 mark, as reported by CoinMarketCap. There’s a buzz among traders that this cryptocurrency might surge to around $20. This optimism stems from the noticeable growth in its on-chain activity recently.

As a researcher, I’ve observed that one telling sign of this growth is the Total Value Locked (TVL), which swelled to an impressive $300 million by September.

By the first week of October itself, we’ve reached a level that typically signals a robust possibility of continued price rises during the final three months of the year.

Aptos’ TVL up $300 mln in 7 days: What it means for APT

Projects like Amnis Finance and TruStake, which focus on liquid staking, have played a significant role in this increase. The total value locked (TVL) in liquid staking has surged by approximately 28% during September.

APT flow from CEX and staking

As an analyst, I delved deeper into the movement of Aptos tokens from centralized exchanges (CEXs). While there was a significant rise in outgoing transactions, it’s important to note that the net flow – which calculates outflows minus inflows – remained stable at approximately -1.53 million APT on Binance, the largest CEX. This suggests that despite the increased activity, more Aptos tokens are still flowing into Binance than out of it.

This indicates that an increasing number of traders are choosing to keep their tokens, suggesting a positive outlook or bullish market attitude. By keeping their APT tokens off exchanges, these traders are expressing hesitancy to sell, believing that the value may rise further in the future.

Aptos’ TVL up $300 mln in 7 days: What it means for APT

As a dedicated crypto investor, I can confidently say that the weekly staking data underscores robust backing for Aptos. Consistently, savvy traders have been committing their APT to staking, with an average total value exceeding $800 million since the beginning of this year.

Despite a minor dip in the weekly percentage of staked APT, daily transaction volumes have consistently held strong, averaging approximately 1.5 million in September.

Reached a peak of 2.7 million daily transactions, demonstrating the increasing momentum and possible expansion of Aptos’ activities.

The number of active users

Regarding user engagement, we’re seeing more and more people using Aptos as time goes by. At present, the platform has over 2 million active users, marking a significant 33% growth compared to the start of the year.

Read Aptos’ [APT] Price Prediction 2024–2025

The number of new users has soared by a staggering 101% compared to January figures, amounting to approximately 1.299 million individuals who have joined the Aptos ecosystem this very year.

Given the indicators suggesting substantial progress, it seems likely that Aptos will end the year on a powerful note, possibly hitting higher valuations as increasing numbers of traders and investors become aware of its impressive track record.

2024-10-10 01:11

APT flow from CEX and staking

The number of active users

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