Aptos (APT) TVL Hits Record Highs as Native USDC Deployment Promises Enhanced Liquidity

Aptos crypto displayed significant stablecoin growth over the past few months, showing no signs of slowing down. Circle's recent push to enable widespread

Aptos (CRYPTO: APT) cryptocurrency displayed significant stablecoin growth over the past few months, showing no signs of slowing down.

Circle’s (NYSE:CRM) recent push to enable widespread access to its stablecoin resulted in the development of the native USDC on the layer 1 blockchain.

Previously, USDC was only available on Aptos as a bridged version, called lzUSDC.

In a recent announcement, Circle highlighted the stablecoin launch natively on Aptos, describing it as an important milestone for the network.

This eliminates the need for cross-chain bridging and streamlines transactions for both users and developers.

The token’s availability on the Aptos network is likely to increase growth for the Circle-issued stablecoin.

At press time, the Aptos crypto traded at $7.60, noting a decline of over 3.40% in the last 24 hours. Its market cap stood at $4.37 Billion, ranking 34th in the overall crypto market.

Stablecoin Demand Pushes Aptos TVL to Record Highs

The launch of native USDC on Aptos is bound to enhance liquidity for the blockchain.

Over the past several months, the blockchain has demonstrated significant growth in its stablecoin. The stablecoin market cap stood at $117.96 Million at the start of 2024.

Aptos crypto has a Total Value Locked (TVL) of $942.25 Million, showcasing robust growth and reaching an all-time high.

Typically, a growing TVL showcases that token holders prefer to HODL, and their assets are now more than before.

Transitioning to Native USDC: A Step Toward Greater Stability

Before the launch of Native USDC, the Aptos Bridge on LayerZero had issued izUSDC as a bridged version to its users.

Unlike native USDC, IzUSDC was not directly issued by Circle and could not be redeemed 1:1 through Circle’s official mint platform.

The implementation of native USDC marks a shift by the Aptos ecosystem from relying on bridged token usage.

The update is bound to increase the blockchain’s reliability and efficiency for USDC payments, making stablecoin applications more stable.

Aptos Price Prediction: Is a Rebound Toward $10 On the Horizon?

Per the daily timeframe analysis, the Aptos price has been traded in a downtrend and stayed below the key EMAs. However, it has reached the demand zone and signals a reversal ahead.

According to a recent post by CryptoBusy, Aptos crypto formed a falling wedge pattern and is primed for a breakout move. Once it breaks the $9 mark, it may reach the $13 and $15 mark in the following sessions.

The Relative Strength Index (RSI) line stayed below the midline region at 35, underlining the bearish movement. Furthermore, the MACD indicator revealed a bearish crossover, conveying the seller’s dominance.

Going forward, the Open Interest (OI) dropped over 4.50% to $194.70 Million and further represented a long, unwinding move in the past 24 hours.

This showcased that sellers were confident in holding their short positions and anticipated a further down move ahead. The immediate support zones were $7 and $6.20, whereas the upside hurdles were $10 and $13.

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