Aptos (APT) Surges 27.36% in 7-Day Rally, Eyes $7.60 Price Target

According to data from CoinMarketCap, Aptos (APT) has seen significant double digital gains in its cumulative seven-day performance. Specifically, CoinMarketCap data shows APT is up 27.36% since the past week. Similarly, APT’s 30-day growth is also in significant double digits. This sustained uptick put the price of the digital asset at $6.36.

In parallel, Tommy Shelby, a notable analyst in the crypto community, argued that APT is gearing for a 20% growth to $7.60. Shelby based his projection on the Elliott Wave pattern observed on the APT market chart. He highlighted that APT recently broke out of a 270-day downward pressure to trade at its current $6.36.

Notably, APT is the native token of Aptos, Layer One Proof-of-Stake (PoS) network, distinguished by its utilization of a pioneering smart contract programming language, Move. Aptos’ primary goal is to empower a thriving ecosystem of decentralized applications (DApps) to address practical, real-world challenges.

According to data from Defillama, the prominent aggregator of DeFi total value locked (TVL), the Aptos blockchain has hit a TVL of over $73.14 million. The figure is exceptional as it represents over 70% of the TVL observable precisely a month ago.

Aptos TVL | Source: Defillama

Moreover, Defillama data suggests the current $73.14 million is Aptos’ all-time high TVL. The biggest projects building Aptos, contributing to the TVL, include Thala, LiquidSwap, PancakeSwap AMM, Amnis Finance, Liquid Staking, and Aries Markets.

Notably, Adam Cader, a co-founder of Thala Labs, an Aptos-based DeFi HyperApp, commended Aptos’ impressive growth over the month. He argued that with increased DApp development in terms of gaming and DeFi, the chain could rank among the top ten by the end of the year.