- Aptos’ historic transactions soar to 2 billion
- Altcoin Long/Short Ratio Indicates Growing Bullish Sentiment
Aptos (APT) not only performing well on the price front, but the blockchain DeFi space has also recently reached a new milestone. Although several factors enabled this achievement, many can be attributed to recent developments occurring in the Aptos ecosystem.
Aptos’ DeFi space is booming
Aptos recently shared a tweet revealing many intriguing developments occurring in the blockchain ecosystem. First, the tweet mentioned a massive increase in Aptos’ TVL. In fact, in the last two months alone, the protocol’s TVL has doubled to $1.2 billion, 19 times more than a year ago.
This recent surge has seen APT’s TVL reach an all-time high. And his momentum might not run out anytime soon. At the time of writing, the TVL of the blockchain stood at $1.3 billion.
Source: DeFiLlama
The tweet also mentioned a few new launches, which could have contributed to this growth of TVL. For example, AGDEX, a decentralized perpetual exchange, recently launched on Aptos.
The tweet also highlighted its top performing dApps from the past week in terms of unique active wallets. According to the same document, Kana Labs topped the list with 923,000 UAWs, followed by Chingari and KGeN, which had 921,000 and 886,000 UAWs, respectively.
However, Santiment data revealed that despite the growth of Aptos’ DeFi sector, blockchain development activity has declined. This means that less effort was put into improving the blockchain by developers last week. Additionally, the number of contributors to development activity has also decreased, suggesting a decline in development activity.
Source: Santiment
Aptos’ tweet also highlighted blockchain’s network activity. Last week, the blockchain recorded 4.1 million active users. With this, Aptos’ historical transactions reached 2 billion. Its DEX volume followed a similar upward trend as it reached $21.5 million, up 28 times last year.
However, upon closer inspection, AMBCrypto found that blockchain network activity dropped in December. After a sharp rise, APT’s daily active addresses began to decline, as did its daily transactions.
In terms of value captured too, it didn’t look very good. Aptos’ fees and revenue have fallen in recent days, according to Artemis. data.
Source: Artemis
Read Aptos (APT) Price Prediction 2024-2025
APT seems optimistic
While all of this was happening, APT remained bullish on the price charts.
At the time of writing, the altcoin was valued at $14.97 following a rise of over 3% in over 24 hours. long/short ratio also recorded a slight increase during the same period.
This meant there were more long positions in the market than short positions – a sign of growing bullish sentiment.
