- Aptos price action shows promising signs of higher prices.
- TVL, number of transactions and blockchain speed are evidence of growth.
Aptos (APT) has been in a downtrend since April, with price action 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, on the fourth contact, the price did not fall to a lower low, indicating a potential weakening of the downtrend.
Additionally, a head and shoulders pattern has formed, a common signal for price reversals if the neckline is broken and held above.
For APT to confirm the $4.30 level as the current cycle floor, price must break and hold above the $7.50 level.
Source: Giray/X
Hitting that target could pave the way for a potential rise to or beyond $10 by the end of this year or early 2025, as other indicators have shown.
Adoption of Aptos and TVL
Aptos’ key metrics point to growing adoption. Aptos’ total value locked (TVL) currently stands at $439 million, ranking it 18th overall and 6th among non-EVM chains.
Although Aptos only launched its mainnet in 2022, it has quickly climbed the TVL rankings, demonstrating a strong entry into the market.
TVL remained stable despite price fluctuations, suggesting robust asset circulation and growing confidence in the platform.
Source: DefiLlama
Additionally, the stablecoin’s market cap on Aptos has expanded, reinforcing the idea of growing adoption and trust.
Daily active users and transactions
Aptos is showing steady growth among Layer 1 blockchains. Over the past 18 months, the number of active users has been steadily increasing, exceeding 200,000 per day.
This impressive figure places it 13th among all blockchains (layer 1 and 2). Aptos Explorer reports an average of one million user transactions per day.
Although interpreting transactions can be complex, the high number of daily active users supports the network’s high activity levels.
Source: Token Terminal
Transaction speed and scalability
Aptos excels in transaction speed, averaging around 25 transactions per second (TPS). Over the last 30 days, peaks have reached up to 12,000 TPS.
The network has demonstrated its ability to scale by breaking transaction volume records. In May, the network processed nearly 100 million transactions in a single day.
In four days, it processed 325 million transactions, maintaining over 2,000 TPS for more than 24 hours, with peaks approaching 5,000 TPS.
This performance highlights Aptos’ ability to efficiently handle high transaction volumes.
Source: Token Terminal
Read Aptos (APT) Price Predictions for 2024-25
Aptos has strong potential for higher pricing, supported by its adoption metrics, active user base, and scalability.
As the price approaches key resistance levels and adoption increases, APT could see significant upward movement, making it a promising investment in the near future.
