- Aptos’ Total Value Locked (TVL) recently reached a record high of $1.09 billion, indicating growing adoption and investor confidence.
- APT has formed a cup and handle pattern, a reliable technical indicator of potential upward momentum.
Aptos [APT] saw a modest 26.58% gain in monthly performance, hinting at building momentum.
The recent 5.42% surge in the last 24 hours could mark the start of a sustained rally driven by positive market sentiment and optimism.
Insights from AMBCrypto have shed light on the key factors driving this trend, suggesting the potential for significant gains in APT’s future.
APT TVL Hits Record $1.097 Billion
Recent data from DeFiLlama revealed that APT’s Total Value Locked (TVL) has surged to a new all-time high of $1.097 billion, showcasing increased market strength and investor confidence in the asset.
For those unfamiliar, TVL measures the total capital locked within a protocol or platform, typically in cryptocurrency, serving as a crucial indicator of liquidity and platform adoption.
Source: DeFilLama
APT’s record-breaking TVL reflects a strong bullish sentiment, often linked to increased liquidity and heightened buying activity.
This surge not only reinforces APT’s appeal in the market but also suggests potential for further price growth as demand increases.
Bullish Sentiment Drives Liquidity Surge
Recent data from Coinglass highlighted a significant increase in liquidity flowing into APT, fueled by heightened activity in the derivatives market.
The Funding Rate, indicating payments between long and short positions, has reached a yearly high of 0.0450%, showcasing strong bullish sentiment among traders.
Currently, the Funding Rate indicates that long traders are dominating the market, sustaining the upward momentum.
Source: Coinglass
Open Interest has also experienced a notable increase, rising by 1.73% to $279.77 million, indicating growing trader participation and optimism regarding APT’s potential rally.
The combination of a positive Funding Rate and high Open Interest reinforces the market’s confidence in the asset’s bullish trajectory.
APT Targets $24
As the market gears up for a potential rally, APT displays strong technical signals with the formation of a cup and handle pattern, often associated with significant price increases.
Source: Trading View
If this pattern completes as anticipated, APT could witness a 69.79% gain, pushing its price towards the $24 threshold, a significant level last touched during its debut week in October 2022.
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