Apto’s social commitment is growing, but investors don’t have to be too happy

  • Aptos has seen interest on the social front
  • TVL has continued to decline despite changes in its ecosystem

Along with many other cryptocurrencies, Aptos has also faced FUD effects resulting from the FTX debacle. But in the past few days, inclined I managed to do well.

Read Aptos price forecast 2022-2023

One reason for the improvement in performance may be Apto’s increased social activity. As shown in the image below, Apto’s social engagement has grown significantly. And there was some positive correlation between Apto’s social engagement and price.

In addition, according to LunarCrushApto’s social mentions increased by 7.91%. At the time of writing, the total number of social interactions is 52.23 million.

Source: LunarCrush

In addition, in the DeFi space, new developments have been made on the Aptos network.

DApps like argo, Loan protocol on Aptos, newly launched mission to attract more users. Despite the innovation in the DeFi space, Aptos TVL has continued to decline.

As shown in the image below, Aptos TVL fell significantly after November 7 and did not see much positive movement in the past week.

At the time of writing, the total value locked by Aptos is $37.54 million, up 0.91% in the last 24 hours.

Source: Defillama

As for the NFT market, Apto blue chip NFT kits such as undead Aptos experienced a decrease in size. According to information from Topaz NFT MarketAptos Undead volume decreased by 65.39% in the last 24 hours.

But another popular group, known as Aptos monkeysnoticed an increase in 31% by volume. Despite this increase in volume, its floor price continued to decline, declining by 6%, according to Stocktwits NFTs.

In addition, Apto’s development activity has also taken a hit in the past week. Thus, it indicates that the number of contributions the Aptos team has made to GitHub has decreased.

Besides, Apto’s trading volume also witnessed a decline. It dropped all the way from 521 million to 304 million in the past seven days.

Source: feeling

Despite all these negative developments, APT price action remained positive.

At the time of writing, Aptos was trading at $4.52 and its value was up 5% over the past 24 hours.

Its volume has also seen a whopping 90% increase over the same time.

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