Aptos Breaks Records in December: Can APT Now Break Through the Key Resistance
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- Aptos hits new all-time highs in TVL and stablecoins, confirming positive network growth.
- Assessing the potential for a bullish breakout in APT as excitement builds in the derivatives segment.
The Aptos network [APT] concluded November with a noticeable surge in network activity, especially when many top blockchains experienced a slowdown. Unlike its counterparts, Aptos maintained momentum throughout November, achieving new highs.
Total value locked (TVL) on the network reached an impressive $1.203 billion as of December 1. Similarly, the market cap of its stablecoins climbed to an all-time high of $311.45 million.
Source: DeFiLlama.
This growth underscores significant ongoing activity within the Aptos ecosystem during H2 2024, with TVL experiencing an increase surpassing $400 million throughout November alone.
Notably, this marks a substantial rebound from July’s low point of $309.63 million—the lowest recorded TVL for H2 2024—suggesting robust performance metrics that hint at positive future trends for APT. Could it be nearing a breakthrough through November’s resistance levels?
Aptos’s native cryptocurrency started December on an upward trend; however, it appears momentum faded mid-month leading to sideways trading around noted resistance near $13.
The cryptocurrency has faced challenges overcoming this barrier but may find success as early as this week. As of now, APT price stood at $13.55 and re-entered the resistance zone once more.
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The RSI from both APT and MFI has displayed renewed strength above 50%, suggesting bullish momentum is solidifying. Investors may feel further boosted by recent record milestones in market cap and stablecoin TVL for Aptos—a potential catalyst for extended bullish sentiment into early December days ahead.
">Supporting these findings is open interest data rising significantly—to $326.09 million at press time—albeit still below early November’s peak level of $359.26 million; indicative that excitement within the derivatives space appears to be elevating steadily.”””
Funding rates provide insights into market direction stemming from open interest fluctuations
Recently observed increases in funding rates across major exchanges provide enhanced clarity regarding prospective bullish breakouts unfolding within this very week.
