Connect with us
Active Currencies 10087
Market Cap $1,093,528,596,828.30
Bitcoin Share 47.38%
24h Market Cap Change $0.02

Aptos: Decoding why did the blockchain see surge in Stablecoin inflow

2min Read
Aptos: Decoding why did the blockchain see surge in Stablecoin inflow

Share this article

  • Aptos saw a surge in stablecoin volume while its TVL declined.
  • APT’s daily active addresses were rising, and the token’s value showed potential for a bullish trend.

There has been an interesting development on the Aptos blockchain. A significant increase has been observed in the volume of stablecoins flowing into the network.

This activity surge comes after the chain’s successful launch more than five months ago. Now, the question is- How has the chain and its native token, APT, fared since its inception?

Realistic or not, here’s APT market cap in BTC’s terms

Aptos sees a surge in stablecoin inflow

Artemis data revealed that Aptos had experienced a significant surge in stablecoin volume on its network. In the last 24 hours, approximately $8 million worth of stablecoins were added to the network, marking the highest growth observed in 2023.

Interestingly, a similar surge was witnessed earlier this year, albeit in the opposite direction. There was a negative flow of around $14 million in March.

Aptos stablecoin growth

Source: Artemis

Aptos blockchain is a distributed ledger technology that operates in a decentralized manner. The Aptos blockchain aims to offer a secure and scalable platform.

Notably, the blockchain employs a consensus mechanism known as “Proof of Identity” (PoI) to reach consensus. Compared to other consensus mechanisms, such as Proof of Work (PoW) and Proof of Stake (PoS), PoI is more energy-efficient and secure.

Daily active and unique addresses on the rise

Based on data from Aptos explorer, the Aptos network has witnessed a significant number of daily active addresses. Over the past 30 days, the network has seen more than 10,000 active addresses, with the number currently standing at over 18,000. Furthermore, Aptos scan reported that the network had over 3.3 million unique addresses registered.

Daily timeframe analysis

At the time of writing, Aptos’ (APT) value was on the brink of breaking through the resistance level created by the short Moving Average (yellow line).

The token traded at approximately $12, showcasing a 6% increase. It was an increase from the previous trading period which had a loss of less than 1%.

APT/USD daily timeframe price move

Source: TradingView

On a daily timeframe, the Moving Average Convergence Divergence (MACD) indicated a potential weakening in the bearish trend. While the MACD had flipped over zero, indicating a bullish crossover; the trend’s movement remained relatively weak.

How much are 1,10,100 APTs worth today?

A review of the Total Value Locked (TVL) on Aptos, per DefiLlama, indicated a decline in value. As of this writing, the TVL was at $37.7 million.


Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S - There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.