Aptos Surges 30% as ecosystem Expands with New Partnerships
Aptos (APT) has seen a notable price increase, up 30% in the past week. the token is now trading at $5.12, with daily trading volume peaking at nearly $1.2 billion. This surge is driven by several key developments.
World Liberty Financial (WLFI) is set to launch its USD1 stablecoin on Aptos on October 6. USD1, the sixth-largest stablecoin with a $2.7 billion market cap, will enhance Aptos’ DeFi capabilities. This move is expected to attract more trading and lending activities.
Backpack, a multichain wallet, now supports Aptos, lowering barriers for new users. DeFiLlama data shows aptos’ total value locked (TVL) has risen from $28 billion in April to over $75 billion. The stablecoin supply has also increased by 5% in the past week, reaching $1.09 billion.
These developments indicate users are actively engaging with Aptos’ lending protocols and decentralized exchanges. The broader market rally, with October historically being a bullish month for Bitcoin, has also supported Aptos’ growth.
Technically, Aptos has broken out of a descending triangle pattern, signaling a bullish reversal. the Supertrend indicator and MACD line both show positive signals. The next price target is $8.20, a 56% increase from current levels. Though, a drop below $5 could invalidate this setup.
