Aptos to $10? Here’s what must happen for APT to rally

• Aptos price action shows promise for higher prices.
• The blockchain’s TVL, transaction counts and speed witness growth. 

Aptos [APT] has been on a downward trend since April, with price movements following a descending trendline since May. The APT/USDT pair on the daily chart has touched this trendline four times, each time facing rejection.

However, during the fourth touch, the price did not drop to a lower low, indicating a potential weakening of the bearish trend.

Additionally, a head and shoulders pattern has formed, a common signal for price reversals 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 must break and remain above the $7.50 level.

Source: Giray/X

Achieving this could set the stage for a potential rise towards or beyond $10 by the end of this year or early 2025 as more metrics have shown.

Aptos adoption and TVL

Key metrics for Aptos indicate growing adoption. The Total Value Locked (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 quickly climbed the TVL rankings, demonstrating strong market entry.

TVL has remained stable despite price fluctuations, suggesting robust asset circulation and increasing trust in the platform.

Source: DefiLlama

Additionally, the stablecoin market cap on Aptos has expanded, reinforcing the notion of rising adoption and confidence.

Daily active users and transactions

Aptos displays consistent growth among layer-1 blockchains. Over the past 18 months, active users have steadily increased, with the number surpassing 200,000 daily.

This impressive figure placed it 13th across all blockchains (layer-1 and layer-2). Aptos Explorer reports an average of 1 million user transactions per day.

While interpreting transactions can be complex, the high daily active user count supports the network’s significant activity levels.

Source: Token Terminal

Transaction speed and scalability

Aptos excels in transaction speed, averaging about 25 transactions per second (TPS). In the last 30 days, peaks have reached as high as 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.

Over four days, it handled 325 million transactions, maintaining over 2,000 TPS for more than 24 hours, with peaks nearing 5,000 TPS.

This performance highlights Aptos’s capability to handle high transaction volumes efficiently.

Source: Token Terminal

Read Aptos’ [APT] Price Prediction 2024-25

Aptos shows strong potential for higher prices, supported by its adoption metrics, active user base, and scalability.

As the price approaches key resistance levels and adoption grows, APT could see significant upward movement, making it a promising investment in the near future.