Aptos stablecoin marketcap surpasses its rising TVL amid bullish relief, indicating a cautiously optimistic environment.
growth. As is the case for many other crypto protocols, the TVL regressed since April, after previously indicating robust recovery in Q1 2024.
The recent return of confidence into the market has triggered a positive TVL growth for Aptos. The latter stood at $380.65 million at press time.Aptos’ TVL growth hinted that investors were once again confident in the state of the market, hence the willingness to lock their funds in the protocol. The surge allowed the Aptos stablecoins market cap to flip the TVL. The higher market cap to TVL ratio could indicate that investors are still cautious.
Aptos’ native cryptocurrency APT traded at $7.01 at press time after pulling off a 27% rally from its recent local lows.APT was trading at a 63.9% discount from its YTD high at press time, despite the recent rally. This performance is largely a reflection of the overall state of the market.
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