In 2024, the blockchain Aptos emerged as a growth leader, successfully adapting to the bull market and attracting new liquidity resources.
Aptos' Changing Fortune in 2024
Aptos became one of the most prominent chains in 2024, making the best of the bull market. Despite the dominion of Ethereum and Solana as L1 platforms, Aptos found niches for alternative liquidity. In 2024, APT tokens rallied several times, peaking under $20, and traded at $12.03 after the latest run. The platform is navigating its path in non-EVM markets, which makes raising liquidity more challenging. However, Aptos grew by tapping successful DeFi protocols and onboarding stablecoins.
USDT Liquidity Support
Aptos was added to Tether Inc.'s list for native USDT, despite the reversion of some tokens to Ethereum. As of December 2024, Aptos carries more than $323M in stablecoins, surpassing SUI with $313M. The native USDT is also supported by around $130M in bridged USDC. Besides using USDT for DeFi deposits and trading, Binance added wallets for Aptos stablecoins. On December 11, the chain's version went live on Binance.
quote: {"CITE_W_A": "Support for native USDT on Aptos is now LIVE on Binance. Accelerate on-chain with deposits and withdrawals now open!", "author": "Aptos"}
Growth via Apps and Tokenization
The Aptos network increased its total value locked (TVL) by more than 1,800% year-to-date. According to DeFi Llama, the network carries $1.31B TVL across protocols. The key growth drivers were successful DeFi applications and stablecoins. Important applications include Echo, the main app for Bitcoin tokenization, as well as Thala Labs, the chief source of liquidity and trading. Franklin Templeton and BlackRock are conducting tokenization field tests using Aptos, and Bitwise launched its Aptos Staking ETP. Additionally, Aptos introduced a user-generated token market, producing 1,933 new assets.
Aptos significantly increased its market share in 2024, despite initial challenges, by strategically implementing DeFi applications and stablecoins, as well as collaborating with traditional financial institutions.
