Aptos crypto gains momentum, hits $8.41 – What’s fueling the surge?
How has the Total Value Locked (TVL) in Aptos changed since the 14th of May, and what factors contributed to this change?
The Total Value Locked (TVL) in Aptos has experienced a notable increase since the 14th of May. At that time, the TVL dropped to $326.99 million according to data from DeFiLlama. However, more recent data shows that the metric has since recovered and reached $379.91 million.
Several factors have contributed to this change. The increase in TVL can be attributed to the high level of assets locked or staked in protocols under the Aptos chain. This suggests a rising level of trust and engagement within the Aptos ecosystem, as more assets are being committed to its various protocols.
Additionally, the increase in TVL coincides with a partnership announced on the 6th of June between Aptos and IONET, a decentralized AI computing platform. IONET chose Aptos as its layer-1 blockchain to provide a transparent record of AI assets and has deployed its generative AI product on the Aptos blockchain. This collaboration could have potentially increased the usage and engagement within the Aptos ecosystem, contributing to the rise in TVL.
Furthermore, the development activity on the Aptos blockchain has been increasing, as indicated by a reading of 50.90 from on-chain data. This suggests an active rate of new features being shipped out and could be fostering growth and user adoption within the Aptos ecosystem, further contributing to the increase in TVL.
In summary, the rise in TVL for Aptos since the 14th of May can be attributed to a combination of factors, including increased trust and engagement within the Aptos ecosystem, a strategic partnership with IONET, and rising development activity.
How has the partnership with IONET influenced the trading volume and interest in Aptos?
The partnership with IONET has had a positive impact on the trading volume and interest in Aptos. Following the announcement of the collaboration, the Aptos crypto price increased by 2.10% in the last 24 hours, reaching a value of $8.41. The trading volume also experienced a jump, indicating a rising interest in Aptos. This surge in trading volume and interest can be attributed to the partnership with IONET, as market participants have been including Aptos crypto in the rising conversations due to their connection. Additionally, the launch of IONET's cryptocurrency on the 11th of June and its upcoming Binance listing have contributed to the growing interest in Aptos2.
What specific factors contributed to the recent 2.10% increase in the price of Aptos crypto to $8.41?
The recent 2.10% increase in the price of Aptos crypto to $8.41 can be attributed to several factors:
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Partnership with IONET: On 6th June, IONET, a decentralized AI computing platform, revealed its partnership with Aptos. This collaboration likely contributed to the surge in Aptos' price as IONET found Aptos to be the perfect layer-1 blockchain to provide a transparent record of AI assets.
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Improved development activity: Development activity on the Aptos blockchain has been increasing, with on-chain data showing a reading of 50.90. This metric is crucial for any project as it indicates the rate at which new features are shipped out while helping to foster growth and user adoption.
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Increased Total Value Locked (TVL): Aptos TVL dropped to $326.99 million on 14th May, but it has since recovered to $379.91 million. The increase could be attributed to the high level of assets locked or staked in protocols under the chain.
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Rising interest and social dominance: The recent price increase and collaboration with IONET sparked a rise in discussions around Aptos crypto compared to other assets in the top 100. This increased interest and social dominance may have contributed to the price surge.
It is important to note that despite these factors, the Weighted Sentiment around Aptos dropped, with most comments about APT being negative. This indicates that not everyone is excited about the recent developments and the price increase could be neutralized if the negative sentiment persists.