- Aptos saw an increase in stablecoin volume while TVL decreased.
- The daily active addresses of APT increased, showing potential for a bullish trend in token value.
An interesting development occurred on the Aptos blockchain. There was a significant increase in stablecoin flow on the network.
This increase in activity came after the successful launch of the chain five months ago. Now the question is – how has the chain and native token APT performed since its inception?
Aptos sees an increase in stablecoin entry
According to Artemis data, the Aptos network experienced a significant increase in stablecoin volume. Approximately $8 million worth of stablecoin was added to the network in the last 24 hours, marking the highest growth since 2023.
Interestingly, a similar increase occurred earlier this year, but in the opposite direction. In March, there was a negative flow of approximately $14 million.
The Aptos blockchain is a distributed ledger technology that operates in a decentralized manner. The Aptos blockchain aims to provide a secure and scalable platform.
In particular, the blockchain uses a mechanism called “Proof of Identity” (PoI) as a consensus mechanism. Compared to other consensus mechanisms such as Proof of Work (PoW) and Proof of Stake (PoS), PoI is more energy-efficient and secure.
Aptos Blockchain: Daily Active and Unique Addresses Increasing
According to Aptos explorer data, the Aptos network saw a significant number of daily active addresses. In the last 30 days, the network saw over 10,000 active addresses and the number is now over 18,000. Additionally, Aptos scan reported that there are over 3.3 million unique addresses registered on the network.
Aptos (APT) Summary Analysis on 1-Day Chart
At the time of writing, Aptos’ (APT) value was about to break the resistance level created by the short Moving Average (yellow line).
The token was trading at around $12 and showing a 6% increase. There was a loss of less than 1% from the previous trading period.
On the daily timeframe, the Moving Average Convergence Divergence (MACD) showed potential weakening in the bullish trend. Although the MACD has turned above zero, indicating a bullish crossover, the movement of the trend remained relatively weak.
According to DefiLlama data, the Total Value Locked (TVL) value in Aptos has decreased. At the time of writing, TVL was $37.7 million.
