- Aptos development activity reached a 5-month high.
- DEX volume on the Layer 1 blockchain dropped nearly 40% over the past week.
fit (APT) USDC Makes Commendable Rally Since Dagging Episode, Gains Over 27%, Data from coin market cap revealed.
While this behavior was displayed by most coins in the crypto market, Aptos also played a significant role in its growing list of partnerships and product launches.
According to Sentiment, on-chain development activity hit a 5-month high. High development activity is a sign of the network’s commitment to upcoming releases and enhancements.
Reading Aptos (APT) Price Prediction 2023-2024
New releases on the DeFi front
EZ Finance, a multi-chain leveraged agricultural protocol, recently announced the launch of its mainnet on the Aptos platform. The decentralized finance (DeFi) protocol, whose test version was launched in January this year, will automatically switch from testnet to mainnet on March 27.
Like other decentralized exchanges (DEXs), Easy Finance Users can borrow a variety of assets provided by lenders to the Liquidity Provider (LP) pool.
It also integrates with other DEXs like PancakeSwap (CAKE) to allow users to access the highest APY in the Aptos and Sui ecosystems.
The Mainnet launch is just around the corner!🚀
After months of hard work and dedication, we are excited to bring our vision to life and provide our users with a seamless, secure and scalable experience 🫡
complete information: https://t.co/olcxD1OHOY#fit #Needle
— Easy Finance | GONE: Mar 20, 14:00 UTC (@EZProtocol) March 19, 2023
While the mainnet launch will no doubt add another feather to the Aptos cap, some key DeFi metrics raised red flags.
DeFiLlama data shows that DEX volumes on Layer 1 blockchains fell, recording a weekly decline of nearly 40%.
A large part of the decline can be attributed to the AUX exchange, whose trading volume is down 45% over the past week.
Source: Defilama
Problems with apt remain
Since hitting an all-time high on January 30, the network’s total value locked (TVL) has gone downhill. However, over the past week, TVL has risen 27% and gotten a little better.
Source: Defilama
realistic or not, here it is APT market capitalization in terms of BTC
As mentioned above, the APT price trajectory recovered from the decline phase and posted significant gains last week.
The moving average convergence divergence (MACD) has moved to the signal line. However, this was not enough to confirm the trend change as both were in the negative zone.
The Relative Strength Index (RSI) was above 50 neutral, indicating that selling pressure has eased moderately. However, the On Balance Volume (OBV) indicated neutral.
However, technical indicators showed early signs of a correction. However, one should follow the momentum for a few more days to get a better idea of ​​APT’s price trajectory.
Source: Tradingview apt/usd
