Aptos (APT) has been gaining momentum recently; analysts predict that its price could reach $24, with a potential upside of 67% in the short term. Investor confidence is high; APT’s Total Locked Value (TVL) recently reached $1.09 billion, indicating increasing adoption in the DeFi space. This positive trend could present significant earning opportunities for early investors. However, you should remember to manage your risks when investing, this article is not investment advice.
Aptos (APT) Set for a Potential Uptrend
Aptos has the potential to rise 67% to $24, reflecting strong performance and increasing market interest in Aptos.
APT's TVL Reaches Record Level
According to data from DeFiLlama, Aptos’ Total Value Locked (TVL) has reached an all-time high of $1.097 billion. This indicates the platform’s growing market power and strengthening investor interest. TVL is a key indicator that measures the total capital locked in a DeFi protocol and is considered a key indicator of liquidity and platform adoption.
APT’s remarkable TVL indicates a strong bullish trend on the platform, which is often accompanied by increased liquidity and buying activity. This uptrend increases APT’s market appeal and points to strong price growth potential.
Bullish Trend and Increasing Liquidity
According to Coinglass data, liquidity into APT has increased significantly recently, supported by increased trading in the derivatives market. The funding rate for long positions has reached a yearly high of 0.0450%, indicating the beginning of a strong bullish trend among traders.
In addition, open interest increased by 1.73%, reaching a total of $279.77 million. This shows that traders are showing more interest in APT’s potential rise and that market confidence is increasing. The positive financing rate and increasing open interest emphasize the strengthening of confidence in APT’s bullish movement.
Upside Potential for APT at $24 Target
This bullish trend, supported by market conditions, is driving APT with strong technical signals. The current chart structure is a cup and handle formation, which is usually a precursor to big price moves. If this formation completes as expected, APT could gain 69.79% and take its price to $24. This would be a significant milestone since APT’s launch in October 2022.