Since the second week of October, there was a noticeable surge in demand for Aptos’ native cryptocurrency APT. This increased interest led to a robust phase of Total Value Locked (TVL) growth.

Ultimately, this surge in demand for APT resulted in Aptos achieving its highest-ever TVL value of $74 million during the trading session on Thursday, October 26th.

This surge in TVL is a crucial metric for decentralized finance (DeFi) platforms, showcasing the total value of assets, tokens, or cryptocurrencies locked within the platform’s smart contracts.

Aptos TVL. Source: DefiLlama

Aptos Surges Amidst Rising Investor Confidence

The increase in demand for Aptos’ native cryptocurrency, APT, further demonstrates growing investor confidence and interest in the platform’s utility, potentially indicating an expanded user base or enhanced use case scenarios within the Aptos ecosystem.

At the time of writing, APT was trading at $6.69, up 4.5% in the last 24 hours, and etching a notable 31.5% increase in the last seven days, according to figures by crypto market tracker Coingecko.

This rally can be partially due to Aptos’ distinct position as a proof-of-stake blockchain that uses a cutting-edge smart contract programming language, to facilitate quicker and less expensive transactions on its network.

For this reason, a lot of cryptocurrency fans frequently associate Aptos with certain decentralized Web3 applications, with a focus on the domain of non-fungible tokens (NFTs).

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Aptos (APT)