- The Aptos DeFi ecosystem has seen rapid growth in 2024, with a nearly tripled TVL and 3.5 million monthly users.
- Panora Exchange leads the crypto space as the first DEX aggregator, surpassing $1 billion in trading volume.
The Aptos blockchain is making significant strides in the DeFi ecosystem, with significant developments over the past week across a variety of projects and alliances. Notably, Aptos’ total value locked (TVL) has increased significantly, nearly tripling in 2024 alone.
Additionally, the number of monthly active users (MAU) has surpassed 3.5 million, with bridge volume approaching $2 billion. This data highlights the rapid growth of Aptos’ decentralized finance (DeFi) landscape as the platform attracts a growing number of users and projects.
What Happened in Aptos DeFi This Week?
In figures 🔢
• Aptos TVL nearly triples by 2024
• Monthly active users exceeded 3.5 million
• Nearly $2 billion in bridged volume
• Endless number of DeFi ecosystem updates and partnerships ♾️Here’s what you missed, plus some updates from…
— Aptos (@Aptos) September 14, 2024
Aptos Strengthens Its Position in DeFi with the Rise of Pandora and Key Partnerships
Panora Exchange, a decentralized exchange (DEX) aggregator, stands out among Aptos Top DeFi Players. According to data from DefiLlama, Panora Exchange has become the top DEX aggregator in all of crypto, an impressive feat in a highly competitive industry.
In addition to this recognition, the platform recently reached a critical milestone of reaching over $1 billion in trading volume. Panora’s dominance in the DeFi sector demonstrates Aptos’ growing popularity as a blockchain network, providing consumers with a seamless and efficient trading experience.
Amnis Finance has also partnered with the Aptos Foundation to launch the Movementum accelerator. This program aims to promote innovation in the Web3 startup ecosystem, particularly in the Asia-Pacific region.
The Movementum Accelerator, which offers grants of up to $1 million, aims to promote new Web3 businesses by providing them with the tools they need to grow and survive in a rapidly changing digital landscape.
B² Network has entered into a strategic relationship with the Aptos Foundation and Echo Protocol. This collaboration is particularly interesting as it aims to develop Bitcoin Finance (BTCFi) within the Aptos ecosystem.
This is the first BTCFi experiment in the Move ecosystem, offering an attractive 10% annual percentage yield (APY) for Bitcoin bridged from the B² network to the Echo protocol on Aptos. This trial could pave the way for additional new financial products on Aptos, expanding the application possibilities of the blockchain.
According to previous information reports According to Crypto News Flash (CNF), Tether’s USDT stablecoin is another significant integration into the Aptos network. The integration of USDT into Aptos improves accessibility by providing consumers with a reliable and low-cost choice for transacting within the ecosystem.
This movement also benefits from Aptos sophisticated blockchain technology, which positions it as a competitive platform in the stablecoin industry.
Despite these favorable improvements, Aptos’ native token, APT, has seen below-average market performance. At the time of writing, APT is trading at $5.82down 4.74% over the past 24 hours. The coin has been consolidating in recent weeks as it faces market volatility.
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