Aptos has announced that Bitcoin holders can bridge their BTC to the blockchain courtesy of its new collaboration with Echo Protocol...
has been busy expanding its DeFi ecosystem to leverage more organic growth. In fact, its latest announcement highlights its plan to tap into more opportunities throughthat Bitcoin holders can bridge their BTC to the blockchain courtesy of its new collaboration with Echo Protocol. The collaboration allows Echo to roll out on Aptos. Thanks to this development, Bitcoin holders can swap their BTC for aBTC, which they can use for yield farming.
A potential impact of this development is that it may end up boosting network activity on the Aptos blockchain. Other networks such asThe Aptos network has seen a surge in activity so far this year. This can be evidenced by its TVL growth over the last 12 months, which was less than $100 million and has since soared to $407 million. This surge was accompanied by a hike in on-chain volume too.Aptos’ daily on-chain volume has held steady above $30 million so far this month.
APT’s price action bounced back by 6.25% in the last 24 hours though, to a price level of $7.25 – Likely as a reaction to news about the collaboration with Echo protocol. This means the cryptocurrency is once again trading higher than its August opening price.On the charts, APT’s RSI indicator remained above its mid-level, confirming that the current bullish momentum remains strong. This is perhaps why it managed to bounce back quickly.
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