- Aptos price movement suggests the potential for higher prices.
- The blockchain’s TVL, number of transactions, and speed saw an increase.
Aptos [APT] It has been in a downtrend since April, while prices have been in a downtrend since May. The APT/USDT pair on the daily chart has touched this trendline four times, facing rejection each time.
However, during the fourth touch, the price did not fall to the lower level, which indicates a possible weakening of the bearish trend.
Additionally, a head and shoulders pattern has formed, which is a common signal for a price reversal if the neckline is broken and sustained above.
For APT to confirm the $4.30 level as the floor for the current cycle, the price needs to break and sustain above the $7.50 level.
Source: Giray/X
As more and more indicators show, achieving this target could set the stage for a potential rise to $10 or more by the end of this year or early 2025.
Aptos Adoption and TVL
Key metrics for Aptos indicate growing adoption. The total locked value (TVL) in Aptos is currently $439 million, ranking it 18th overall and 6th among non-EVM chains.
Despite launching its mainnet only in 2022, Aptos has rapidly gained ground in the TVL rankings, reflecting its strong penetration in the market.
The TVL has remained stable despite price fluctuations, indicating strong asset circulation and growing trust in the platform.
Source: Defilama
Additionally, the stablecoin market capitalization on Aptos has expanded, fueling the perception of growing adoption and trust.
Daily Active Users and Transactions
Aptos shows consistent growth among layer-1 blockchains. Over the past 18 months, active users have grown steadily, exceeding 200,000 per day.
This impressive figure puts it in 13th place among all blockchains (layer-1 and layer-2). The Aptos Explorer reports an average of 1 million user transactions per day.
Although transactions can be complex to interpret, the high daily active user numbers support the network's significant activity levels.
Source: Token Terminal
Transaction speed and scalability
Aptos leads in transaction speed, averaging about 25 transactions per second (TPS). In the past 30 days, the peak has reached 12,000 TPS.
It has demonstrated its scalability with record-breaking transaction volumes. In May, the network processed nearly 100 million transactions in a single day.
It handled 325 million transactions over four days and maintained over 2,000 TPS for more than 24 hours, with peaks near 5,000 TPS.
This performance highlights Aptos’ ability to efficiently handle high transaction volumes.
Source: Token Terminal
Read Aptos [APT] Price Forecast 2024-25
Aptos appears to have strong potential for a high price, supported by its adoption metrics, active user base, and scalability.
As the price approaches key resistance levels and acceptance increases, APT may see significant growth, making it a promising investment in the near future.