The Aptos blockchain reached a milestone in its history, processing over 95 million in a single day. According to data provided by Artemis, a blockchain statistics platform, the number broke an L1 industry record on May 24, pushed by the tap to earn game Tapos, in which each tap or click constitutes a transaction. Aptos […]
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Aptos Posts Triple-Digit Gains In Key Metrics, Yet APT Price Struggles At $8.40
According to a report by Messari, Layer 1 (L1) blockchain Aptos experienced substantial gains in key metrics during the first quarter (Q1) of the year. The growth was driven by the surge in Bitcoin prices to new record highs and increased capital inflow in the market.
However, Aptos’ native token, APT, has struggled with price performance, recording modest gains compared to other top cryptocurrencies.
Aptos Network Activity Surges
The report highlighted that Aptos’ circulating market cap increased 127% quarter-on-quarter (QoQ) to .6 billion.
This growth outpaced other projects with similar market caps, improving market cap rank from 33 to 22. Despite this growth, APT’s price experienced a more modest increase of 76% QoQ.
Aptos revenue, which encompasses all fees collected by the protocol, grew by 37% to 5,000. However, when denominated in APT, the revenue decreased by 10%. All revenue generated by Aptos is burned, but these burned tokens have not significantly reduced inflation.
APT inflation started at a 7% annualized rate and is set to decrease by 1.5% each year until it reaches 3.5%. By mid-October, the inflation rate had reduced to just under 6.9%. Additionally, there was inflationary pressure from the genesis supply unlocks, with almost 31% of the genesis supply distributed by the end of Q1.
Looking at network activity, Aptos witnessed a significant increase in transactions and active addresses in Q1. Average daily transactions and addresses saw 66% and 97% QoQ growth rates, respectively.
Despite the increased transaction activity, the average transaction fee decreased by 45% QoQ to 0.0006 APT (.007). Furthermore, average daily new addresses grew by 91% QoQ to 44,000, and the weighted average one-month retention rate increased by 82% QoQ to 14%.
APT Staked Tokens Decrease 5%
Regarding staking, APT staked decreased by 5% to 861 million tokens. However, when denominated in USD, the staked market cap grew by 68% QoQ, surpassing billion.
As seen in the chart above, Aptos also experienced growth in its decentralized finance (DeFi) total value locked (TVL), which increased by 376% QoQ to 3 million.
According to Messari, this increase was not solely due to APT price appreciation; TVL also grew by 170% QoQ in APT terms. Additionally, Aptos’s stablecoin market cap nearly doubled QoQ, reaching million.
APT Struggles To Break .80 Resistance
Despite these positive developments, APT’s price performance has faced challenges. The native token has declined over 16% in the past month, resulting in a modest 2.7% surge year-to-date. This contrasts with the double or triple-digit gains seen by other top cryptocurrencies.
Currently trading at .46, APT has struggled to surpass its nearest resistance wall at .80, leading to a consolidation phase between .20 and .70 over the past month.
Featured image from Shutterstock, chart from TradingView.com
Tron (TRX) & Aptos (APT) Community Joins DTX Presale After Massive 100X Rally Begins
The cryptocurrency market is evolving at a fast pace, bringing new opportunities and platforms that challenge traditional financial systems. Among these, Tron (TRX) and Aptos (APT) are two significant altcoins that have made headlines recently for their market movements.
Both coins are now catching the eye of investors following the announcement of the DTX Exchange presale, a new deFi platform that promises a 100X rally with its innovative trading features and zero KYC requirements.
Aptos (APT) 12.69% Price Drop Unlocks Buying Potential Amidst 24.6% Trading Surge
Aptos (APT) aims to redefine transaction speed and reliability in decentralized networks. Founded by ex-Meta engineers, Aptos is built on a novel blockchain architecture designed to enhance throughput and security significantly. This technology foundation aims to support various applications from DeFi to social media platforms, maintaining high levels of user safety.
Despite its innovative approach and strong foundation, Aptos has recently experienced a 12.69% drop in its price over the last week, currently standing at .88. However, this price adjustment has not affected investor interest, as seen by a 24.60% increase in trading volume in the past 24 hours. This indicates strong trading activity and a possible rebound for APT.
Tron (TRX) Enjoys A 7.04% Price Surge with 37.55% Boost in Trading Volume In The First Week of May
Tron (TRX) has established itself as a strong altcoin in the crypto market, building a decentralized internet. Founded by Justin Sun, Tron facilitates decentralized applications (dApps) and their accessibility. The platform’s native token, TRX, plays a central role in maintaining and operating the network and is used as the primary medium for transactions.
Tron’s performance has recently seen a positive uptick, with its price increasing by 7.04% over the past week to .11. This rally was complemented by a decent 37.55% surge in trading volume within the last 24 hours, indicating a growing interest and confidence in the TRX market. Such dynamic market activity suggests a positive outlook from the investors’ community.
DTX Presale In The News: Investors Jump In Join The Wave With Over 100X Gains
As the crypto market is showing continuous expansion, the DTX Exchange emerges as a groundbreaking development network, especially for communities involved with assets like TRX and APT. DTX’s presale is drawing attention for its high-leverage options and the hybrid model that integrates the liquidity of centralized exchanges with the anonymity of DeFi platforms.
The DTX Exchange is set to revolutionize the trading experience by offering 1000X leverage without KYC requirements, thereby attracting a broad spectrum of traders. With over 0K raised in just the first two days of its public presale, the platform is on fire toward reforming market access and trader autonomy.
DTX Exchange Leverages Best Trading Features To Attract Crypto Giants: Trade Smarter, Not Harder.
DTX Exchange not only supports the trading of cryptocurrencies but also extends its capabilities to forex and equities, all while ensuring trader security through non-custodial wallets. This approach significantly lowers the risk of security breaches, placing power directly in the hands of its users.
As the crypto world continues to evolve with platforms like DTX Exchange, the integration of advanced trading features with user-centric policies could indeed kick off a new era of trading, potentially leading to more inclusive and expansive market participation.
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Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
Aptos Labs Teams Up With Microsoft, SK Telecom For New Institutional Platform, APT Soars 3%
In a notable collaboration, Aptos Labs, the developer of the Aptos (APT) Layer-1 (L1) blockchain, announced a partnership with tech giants Microsoft, Brevan Howard, and South Korean telecommunications company SK Telecom for a new decentralized finance (DeFi) platform.
Aptos Labs Unveils Aptos Ascend
The announcement, made on Thursday, revealed that Aptos Labs is launching Aptos Ascend, which will leverage the technologies of cloud computing platform Microsoft Azure, Azure OpenAI service, and SK Telecom while benefiting from the expertise of Brevan Howard and Boston Consulting Group (BCG) to provide digital currency and asset management services to its user base.
This partnership effort aims to set new benchmarks for secure and scalable financial solutions built on the Aptos blockchain, specifically through the launch of Aptos Ascend.
Aptos Ascend introduces advanced Digital Asset Controls designed to provide precision and adaptability in asset management.
Key features include customizable tokens tailored to specific financial requirements, access control limited to approved transactions and participants, and increased confidentiality through Zero-Knowledge Proofs (ZKP) that ensure compliant transaction details remain secure.
Furthermore, Aptos Ascend’s Network Controls empower financial institutions to upgrade their infrastructure and address future financial challenges.
This is achieved through customizable solutions that allow adaptation of network settings to meet regulatory requirements, implementation of multi-signature protocols for improved security, and maintenance of transparency through comprehensive audit trails.
Convergence Of AI And Blockchain
Mo Shaikh, Co-founder and CEO of Aptos Labs, believes the project will “unlock the on-chain potential that financial institutions have been eagerly awaiting.”
Shaikh emphasized that this collaboration signifies the beginning of a ‘financial revolution” and expressed excitement about the future pioneers who will leverage the capabilities of the Aptos Ascend suite.
In August 2023, Aptos Labs had already announced their utilization of Microsoft’s infrastructure to deploy new offerings that combine artificial intelligence (AI) and blockchain technology.
Among these offerings was Aptos Assistant, a chatbot that provides increased user experiences. Shaikh highlighted the convergence of AI and blockchain as “transformative forces” that shape the internet and society and emphasized the shared vision of Aptos Labs and Microsoft to make this technology accessible to a wider audience.
APT Breaks Month-Long Downtrend
Following the collaboration and the introduction of the new platform, APT has experienced a significant breakthrough in its month-long downtrend, which amounted to a decline of over 40%. The unlock event of a substantial portion of APT tokens primarily drove this decline.
Before the unlock event on April 12, APT had already witnessed a price drop of nearly 16%. In this event, 1 million worth of tokens were distributed, with 0 million allocated to investors, million among community members, and million earmarked for the ecosystem development foundation. The released APT tokens account for 6% of the current circulating supply.
Currently, APT is trading at .54, recording a surge of 6% concurrent with the collaboration unveiling. Moreover, according to data from CoinGecko, the token’s trading volume has experienced a remarkable increase, reaching 8 million, reflecting a 46% surge compared to the trading volume on Wednesday.
Featured image from Shutterstock, chart from TradingView.com
Blockchain for Good Alliance (BGA) Unites Web3 for Societal Impact, Launching at Blockchain Life Dubai With Bybit Web3, Harvard Blockchain Club, Solana Foundation, Moledao, Aptos, ICP.Hub UAE, Alchemy Pay as Key Partners
PRESS RELEASE. Dubai, 15 April 2024 – The Blockchain for Good Alliance (BGA) officially announces its launch today, marking a significant step forward in the mission to leverage blockchain technology for social good. BGA has partnered with leading entities in the blockchain space including Bybit Web3, Solana Foundation, Aptos, Moledao, Harvard Blockchain Club, ICP.Hub UAE, […]
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Aptos (APT) Surges 94% And Approaches All-Time Highs: Will It Break The $20 Barrier?
Layer 1 (L1) blockchain platform Aptos has experienced a significant surge in key metrics, accompanied by a 12% price rally of its native token APT within the past 24 hours. On Tuesday, the token’s price approached its all-time high (ATH) level of ,92, reaching above .
APT Eyes Milestone
Despite the recent price correction across the broader cryptocurrency market, Aptos’ APT token has been on an impressive uptrend since early March. Over the past 30 days, the token has surged by more than 94%, showcasing its strong performance.
Aptos has also gained recognition in crypto, climbing to the 23rd position among the largest cryptocurrencies by market capitalization. Currently valued at .3 billion, the token has experienced a substantial increase from the billion recorded at the beginning of the month.
The trading volume of Aptos (APT) has seen a significant surge, reaching 2,531,437 in the last 24 hours, a notable 90.70% increase from the previous day, according to CoinGecko data.
Analyzing the daily APT/USD chart, no significant resistance levels are observed, indicating that reaching the milestone may be within reach, which would mark a new all-time high for the token.
The sustainability of the bullish momentum and the ability of investors to hold on to their gains will play a key role in determining the coin’s future performance. Nevertheless, a possible retest of the next support level at .36 cannot be ruled out in the event of profit-taking and selling pressure.
If the .36 support level fails to hold, the next significant support level for APT is at .31. However, it is important to note that APT’s bullish structure remains intact as long as the .14 support level remains unbroken, suggesting that the bulls currently have the upper hand as long as a sharp 30% decline does not occur.
Aptos Attracts 11 Million Tokenholders In 30 Days
Coupled with the increase in the price of its native token, Aptos has seen significant growth in key metrics over the past 30 days. According to Token Terminal data, token holders have grown significantly, increasing by 3.4% to 11.79 million individuals over the past 30 days.
In terms of fees generated, Aptos has seen a notable uptick. Over the past 30 days, fees generated were 9.16 thousand, representing a growth rate of 87.8%. Annualized fees reached .54 million, a slight increase of 0.2%.
In a longer time frame, the Aptos token’s trading volume has experienced significant expansion, reaching .82 billion over the past 30 days, indicating a significant increase of 178.2%.
Featured image from Shutterstock, chart from TradingView.com
Arweave and Aptos Lead Crypto Market Surge With Stellar Gains as BTC Nears All-Time High
Bitcoin experienced a 6.8% increase on Wednesday, reaching a peak of ,000. This upturn also propelled several other digital assets upwards, notably arweave (AR) with a 50.3% increase and aptos (APT) with a 23.5% appreciation against the U.S. dollar. AR, APT, FET, DOGE, PEPE, and ORDI Post Impressive Gains Amidst Crypto Upswing As of 2 […]
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Aptos Foundation and Blockchain Phone Maker Jambo Partner to Bolster Global Web3 Access
The Aptos Foundation has revealed its collaboration with Jambo, a creator of blockchain-enabled smartphones, to bolster emerging markets through Web3 innovation. The pair state that their alliance seeks to improve Web3 access and knowledge in areas that would benefit greatly, by utilizing the layer one (L1) blockchain technology of Aptos in tandem with Jambo’s dedication […]
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Aptos Market Cap Skyrockets, $574 Million Worth Of APT Tokens Set To Shake The Market In Q1 2024
Aptos (APT), a Layer-1 blockchain network, has shown significant growth in key metrics during the fourth quarter (Q4) of 2023, following the overall recovery of the crypto market. Furthermore, according to a recent report by Messari, Aptos experienced notable advancements in various aspects of its ecosystem.
Inflation And Genesis Supply Unlocking
The circulating market cap of APT witnessed a remarkable 126% quarter-on-quarter (QoQ) increase, reaching .9 billion. This growth surpassed that of similar market cap projects, leading to an improvement in APT’s market cap rank from 35 to 33 (currently 30).
Although the price of APT did not rise as much as its market cap, it still recorded a solid 75% QoQ increase.
Revenue generated by Aptos, represented by the fees collected through the protocol, also continued to grow in Q4 after recovering from lows in Q2. Denominated in APT, quarterly revenue grew by 10% QoQ, exceeding 46,000.
With the appreciation of APT’s price, revenue in USD experienced an even greater surge of 30% QoQ, totaling 5,000. Notably, there was a spike in daily revenue towards the end of December due to an “inscription craze”.
Moreover, Aptos implemented an inflation model for APT, beginning at a 7% annualized rate and gradually decreasing by 1.5% each year until it reaches 3.5%. In mid-October, the inflation rate reduced to just under 6.9% as per the initial total supply of 1 billion APT.
Additionally, APT faced inflationary pressure from the unlocking of the genesis supply, which includes the initially allocated 1 billion APT tokens.
By the end of Q4, over 23% of the genesis supply was distributed, marking a 30% QoQ increase.
In Q1 of 2024, another 7.5% of the genesis supply is set to unlock, with 48% allocated to core contributors and 34% to private investors. This unlocking is expected to release 4 million worth of APT tokens, representing 20% of Q4’s circulating supply.
Additionally, million worth of APT will unlock towards the Ecosystem category, although the immediate distribution of these tokens may not occur. It is important to note that, before distribution, 80% of these tokens are held by the Foundation, while 20% are held by Aptos Labs.
These tokens are intended for grants, incentives, and other initiatives. So far, slightly over 20 million APT from this allocation has been airdropped.
Aptos Dip In Network Activity
Network activity on the Aptos blockchain, as measured by transactions and active addresses, decreased slightly in the fourth quarter, but remained at elevated levels compared to the first half of 2023. Average daily transactions decreased 1% sequentially to 483,000, while average daily active addresses decreased 31% sequentially to 60,000.
According to the report, the surge in network activity during Q3 was primarily driven by the integration of the social media platforms Chingari and Oracle Pyth with Aptos. In Q4, two notable events contributed to increased network usage: the Graffio communal art creation event in mid-October and inscriptions towards the end of December.
However, the number of new addresses created per day decreased by 33% QoQ in Q4, following a significant increase of 419% in Q3. The weighted average one-month retention rate also fell by 41% QoQ to 5%, marking the lowest rates since December 2022 for the October and November 2023 cohorts.
Looking ahead, Aptos has outlined key priorities for Q1 2024, which include further enhancing the stability and scalability of the network, expanding partnerships and integrations, and implementing new features and improvements based on community feedback.
Additionally, the upcoming unlocking of the genesis supply and the subsequent distribution of APT tokens will be a significant event to monitor, as it may impact the token’s price and overall market dynamics.
APT is currently trading at .82, which corresponds to a price correction of 5.9% over the past 24 hours.
Featured image from Shutterstock, chart from TradingView.com
SUI Overtakes Bitcoin, Aptos To Become 13th-Largest DeFi Network
The SUI blockchain has been ramping up since the year 2024 began, and a natural consequence of this rapid growth is that it has now surpassed some major players in the decentralized finance (DeFi) space. This has put it ahead of heavy hitters such as Bitcoin and Aptos as SUI begins to leave its mark on the market.
SUI Network TVL Crosses 0 Million
The total value locked (TVL) on the SUI network has completely exploded in the last year. The total value locked on the blockchain was sitting at less than million in the middle of 2024. But now, less than a month into the year 2024, the TVL has already crossed the 0 million mark.
While this figure is still far off from the likes of Ethereum and BSC which continue to dominate the DeFi TVL, it puts it ahead of some heavy hitters in the game. For example, the Bitcoin TVL is currently sitting at 8.8 million, which means SUI TVL is much higher than that of Bitcoin.
Then again, another network which is currently lagging behind SUI is the Aptos TVL. The Aptos blockchain, which was launched to much fanfare back in 2022, is sitting at a TVL of 3 million. This means that SUI’s TVL is more than 2x higher than that of Aptos.
Other DeFi networks which SUI has surged ahead of include the likes of Kava at a TVL of 1 million, Near at a TVL of million, and Metis at a TVL of 4 million. With its TVL figures, SUI is now the 13th-largest DeFi network.
DeFi Making A Comeback
After a long stretch of poor performance, the DeFi market looks to be making its comeback in 2024. As DeFiLlama data shows, after the market peaked at a TVL of almost 5 billion in 2022, it dropped more than 50%, spending the majority of 2023 trailing below billion.
However, as crypto market sentiment has improved, so has the DeFi TVL. The TVL has grown from its October 2023 lows of billion to more than billion so far in 2024. This is as a result of the likes of SUI gaining more adoption and their token prices also increasing.
As expected, Ethereum dominates the majority of this TVL, currently sitting at .743 billion. The Tron and BSC networks are the second and third-largest, with TVLs of .14 billion and .41 billion, respectively.