Aptos blockchain has turned the recent surge in cryptocurrencies to its advantage, experiencing a general upward trend. The total locked value (TVL), which reflects investors’ confidence, recently reached an all-time high.
The TVL value of Aptos reached $74.77 million in Thursday’s transactions, signaling the highest TVL value in its history. This growth can be seen as a reflection of the TVL growth since the second week of October. The increased demand for APT, the native cryptocurrency of Aptos, has also caught attention.
The TVL growth in Aptos indicates an increase in investor confidence. This may be due to a shift in the long-term outlook in favor of bulls. As a result, the recent increase in Aptos TLV has turned the rally into a long-term expectation, raising hopes among investors.
Aptos’ remarkable price movement suggests that the ecosystem’s growth may accelerate in the long term. Following the increase in Bitcoin, APT experienced a significant surge in the second half of October. As a result, APT witnessed a price increase of up to 43% in the last two weeks. At the time of writing, it was trading at $6.44.
The price rally can be considered as the largest upward price movement for APT in the last 11 months. Expectations that the market is preparing for a long-term bull run are also being discussed among investors. However, price retracements can also occur during such upward movements.
APT’s liquidation heat map indicates that the next significant liquidation accumulation could occur at the price level of $5.7 to $5.8. In other words, if the price falls to the mentioned range, bears could gain some strength.
Furthermore, a price retracement could also lead to a decrease in trading volume. This situation could be an indicator of a consolidation phase following the recent upward movement in the market.
Finally, based on the information provided, the downward movement could present an opportunity for bears to regain control. Since APT is still in overbought territory, we may witness further declines in the next few days.