- APT price surged 10% to $11.13, reaching a six-month high.
- Total value locked (TVL) in Aptos hit $920 million, boosting investor confidence.
- Key partnerships and staking incentives are driving increased demand for APT.
The price of Aptos (APT) has just surged 10%, hitting a six-month high of $11.13, amid a broader market correction. Additionally, the market cap jumped to $5.7 billion, with daily trading volume exceeding $500 million.
A key driver behind this surge is a total value locked (TVL) of $920 million, reaching an all-time high. Will APT maintain this bullish momentum?
Total Value Locked Reaches New Heights
A significant factor behind the APT price increase is the rise in total value locked. Data from DeFiLlama shows Aptos’s TVL has hit a staggering $920 million. This places the blockchain as the seventh largest in the DeFi space. Such impressive figures reflect growing confidence, attracting more investors and projects.
On October 21, Aptos integrated with the Echo Protocol, allowing users to earn returns of up to 10% in APT. This partnership broadens APT’s use cases, making the altcoin even more appealing. A collaboration with the crypto exchange MEXC also plays a crucial role in this rally.
This partnership promotes APT through various events. Increased staking activity on MEXC has created upward pressure on APT prices. Staking enables investors to lock tokens, earn rewards, and reduce circulating supply.
Traders on MEXC Exchange can access a $1.5 million reward pool for staking APT, with returns of up to 20% APR for those locking tokens for 30 days. This incentive boosts demand and contributes to APT’s rise.
Analyzing Price Action and Technical Trends
Strong fundamentals support Aptos, leading analysts to believe APT is forming a bullish flag pattern. A breakout above $10.5 will confirm this, suggesting further gains. Currently, APT trades at $10.92, eyeing a short-term rally toward $12.50.
The next resistance level lies around $15.00, with even higher targets projected at $19.00. This projection stems from the bullish structure’s 76.41% measured move. A sustained rally could push APT beyond this crucial threshold.
Aptos continues to make significant technological advancements. The integration of Chainlink Data Feeds and the introduction of the Shoal++ consensus protocol have notably improved network performance and reliability. These developments strengthen Aptos’s position in the competitive blockchain landscape.
The post APT Price Surges 10%, Reaching Six-Month High with Nearly $1 Billion in Total Value Locked appeared first on Crypto News Land.
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