Aptos stablecoins have gained $39.5 million, reflecting a renewed confidence in the market. The total value locked (TVL) in the Aptos network has also resumed its upward trend. Despite this positive development, the stablecoins market cap has overtaken the TVL, indicating cautious investor sentiment.
Aptos’ TVL had slowed down between April and early July. On 1st April, it reached a year-to-date high of $429.66 million but dropped by $124.04 million by 6th June. However, recent market confidence has led to a TVL growth, standing at $380.65 million at present.
The surge in Aptos stablecoins market cap to $146.11 million has flipped the TVL. This flip could suggest that investors prefer liquidity due to recent market volatility. Despite lower DeFi engagement, the positive trajectory offers some optimism.
Aptos’ native cryptocurrency, APT, has also shown recovery. Trading at $7.477, APT has rallied 27% from recent lows but is still 63.9% below its year-to-date high. The market sentiment largely influences APT’s price action. The MACD and RSI indicators show potential for further upside, with the closest major resistance level above $10.
At the time of writing, APT’s market capitalisation stands at $3.27 billion. The recent performance of Aptos stablecoins and TVL growth signals a cautiously optimistic market environmen
