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Aptos’ Social Engagements Soar; Still Not Time for Investors to Celebrate

  • Aptos saw increased interest on its social front.
  • The crypto’s TVL continued to slump regardless of ecosystem changes.

Aptos endured the effects of the FTX debacle’s generated FUD as many digital tokens suffered declines. Nevertheless, APT recorded improved performance within the previous few days. One of the facets that contributed to the lucrative performance might be the surges in Aptos’ social activity.

Lunar Crush data shows the alt’s social mentions soared by 7.91%. Meanwhile, social engagements hovered at 52.23 million as of this publication. Also, Aptos saw new developments in the decentralized finance (DeFi) space.

Decentralized applications (dApps) like Argo (Aptos-based lending protocol) launched new functionalities to draw increased market players. ATP saw its TVL on extended slumps, regardless of innovations in its decentralized finance front.

DeFiLlama data shows APT total value locked plummeted substantially after November 7, and the previous seven days didn’t see many positive actions. While publishing this post, Aptos TVL stood at $37.54 million, reflecting a 0.91% surge within the past 24hrs.

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In the NFT front, APT’s blue-chip NFTs like Aptos Undead saw declines in volume. Topaz, an NFT marketplace, shows APT Undead’s volume plummeted by 65.39% within the past day. Nevertheless, Aptos Monkey’s, another renowned collection, saw a 31% increase in volume. Its floor price maintained a downside despite the volume surge, plunging by 6% (StockTwits NFTs).

Furthermore, Aptos’ development activity saw a blow within the last seven days. That indicated declines in GitHub contributions by the Aptos team. Also, APT’s trading volume declined. It plummeted to 304 million from 521 million over the last week.

APT maintained a positive price action regardless of the discussed pessimistic developments. While publishing this content, APT changed hands near $4.52, whereas its value dipped by 5% within the last day. Moreover, its volume recorded a staggering 90% uptick in that timeframe.

The cryptocurrency space attempts revival after the latest events that catalyzed massive slides. Bitcoin gained 0.69% over the past day to trade at $16,710.02. Nevertheless, bearishness remained visible as BTC dropped 0.47% within the last hour, according to Coinmarketcap.

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Kevin Harper

Kevin Harper is a new journalist on Tokenhell. His content focuses on blockchain, platform reviews, and cryptocurrency news. Stay tuned for his latest and intriguing technological updates.

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