Key Insights:
- Aptos has seen a 30% price increase over the past week, fueled by ecosystem growth and rising trading volumes.
- Partnerships, including the launch of USD1 stablecoin on Aptos, are boosting liquidity and driving adoption on the network.
- Technical indicators show a bullish reversal for Aptos, with analysts targeting $8.20 as the next resistance level.
Aptos price has surged by 30% over the past week, drawing significant attention as the token continues to climb amid a series of promising developments. As of October 3, Aptos was trading at $5.12, marking a 5% increase in just 24 hours and a notable 30% gain over the last week. The token’s trading volume has also reached new heights, surpassing $1.2 billion on the same day, nearly double the volume seen at the beginning of the week.
The rise in Aptos’ price is largely attributed to its latest partnerships and developments within the ecosystem. World Liberty Financial (WLFI) recently announced the launch of its stablecoin, USD1, on the Aptos blockchain, scheduled for October 6. This partnership is expected to strengthen Aptos’ position in the decentralized finance (DeFi) space, driving more liquidity and activity to the network.
Furthermore, the integration of Aptos into Backpack, a multichain wallet and app platform, is set to attract more users. This addition makes it easier for new users to engage with the network, which could further boost adoption and trading volumes.
Rising TVL and Stablecoin Adoption
The total value locked (TVL) on the Aptos blockchain has experienced remarkable growth, rising from $28 billion in April to over $75 billion at the time of writing. This increase in TVL is a direct result of the growing number of DeFi protocols on the network, showcasing how users are actively participating in lending, liquidity provision, and decentralized exchanges. In addition, the stablecoin supply on the Aptos network has risen by 5% in the past week, reaching a total of $1.09 billion.
Investor sentiment around Aptos remains positive, as evidenced by growing open interest in its futures market. According to data from DeFiLlama, open interest in APT futures has surged from $323 million to over $436 million, signaling increased interest in long positions. The weighted funding rate for APT futures has also turned positive, suggesting that traders are increasingly optimistic about Aptos’ future.
The technical outlook for Aptos is also favorable. The token has broken out of a multi-month descending triangle pattern, signaling a bullish reversal. The price has successfully retested the breakout level as support, further reinforcing the optimistic sentiment in the market. Additionally, the Supertrend indicator has flashed a green signal, and the MACD line has crossed above the signal line, confirming the bullish momentum.
Based on these positive technical indicators, analysts are targeting $8.20 for Aptos, which represents a 56% upside from its current price. However, a decline below $5 could challenge the bullish outlook and potentially lead to renewed bearish pressure.
