Aptos Tops Wyoming Stablecoin Candidate List With 32 Points

Aptos has emerged as a leading contender for Wyoming's stablecoin rollout efforts, as the state considers the blockchain network for its upcoming stablecoin initiative. A special commission, the Wyoming Stable Token Commission, has been tasked with analyzing various blockchain networks to determine the best fit for the state's stablecoin plans. Aptos scored the highest among the shortlisted networks based on criteria such as technical robustness and vendor support, tying with Solana at 32 points. This means the final decision will likely be between Aptos and Solana.

The announcement that Aptos topped the list of candidates also confirms that Wyoming’s WYST rollout is on track to take place soon. If Wyoming selects Aptos, it would be a significant milestone for the network, potentially encouraging more adoption from institutions and industrial organizations. This could also boost Aptos' credibility, making it a more attractive option for other states looking to issue their own stablecoins.

From a growth perspective, WYST could add to Aptos’ stablecoin growth. The network has been on an aggressive upward trajectory in the last 12 months, reaching a new all-time high (ATH) at $1.33 billion earlier this month. However, the network's stablecoin count has since retreated to about $1.24 billion. Aptos has also been experiencing robust decentralized exchange (DEX) volumes, which underscore heavy adoption. To put it into context, Aptos DEX volume in Q2 2025 has so far been much higher than its performance in Q4 2024. However, that growth has not been proportional to APT price action, suggesting that the surging DEX volumes did not translate to demand.

APT, the native token of the Aptos network, has been on an overall downtrend since December last year. Bullish suppression resulted in the loss of any gains that it had achieved since April. APT exchanged hands at $4.28, defying broader market trends with a slight recovery. The press time price level also resulted in a retest of a strong support zone where it previously bounced back in August 2024 and April this year. APT could turn out to be one of the more attractive coins in the next altcoin season, considering its heavy 71% discount from its December 2024 top. There were some short-term bullish prospects from the long-term support retest. Those prospects were backed by a slight divergence observed between the price and its RSI.

However, APT’s RSI indicator was in oversold territory. The last time it bounced back from the same level. This time, it appears to have some room for more potential downside before dipping its toes into the oversold zone. Most of the sell pressure was likely due to its token inflation, which has been chipping away at investor confidence. Over 200 million APT tokens were added to the circulating supply, bringing the total circulating supply to over 641.5 million coins. A win for Aptos would likely trigger a confidence boost among investors. It remains to be seen whether Wyoming’s stablecoin pursuits will tip the scales in favor of APT bulls in the coming days.