Aptos Surges 7% to $4.99 as TVL Crosses $1 Billion

Aptos, a layer-1 blockchain, has surged by 7% to reach $4.99, marking a significant milestone as it crosses the $1 billion total value locked (TVL) threshold. This surge comes on the heels of Bitwise Investment's engagement with the U.S. Securities and Exchange Commission (SEC) regarding an Aptos ETF filing, which includes the addition of "in-kind" creation and redemption mechanisms. This development has reignited bullish sentiment among investors, who see the potential for further price appreciation.

The Aptos blockchain has been on a rollercoaster ride since its peak in February, when it reached $8. Following a dramatic decline, APT has been trading within a range of $4.19 to $6.08, forming double bottoms in April and June. These technical patterns often signal an impending breakout, and the recent surge above the $5 psychological resistance level has validated this bullish outlook. The network's growing adoption and the launch of Shelby, a decentralized storage protocol, have further bolstered its position in the market.

Shelby has enhanced the Real World Asset (RWA) capabilities of the Aptos blockchain, positioning it as a cloud-grade, Web3-native storage solution. This has contributed to the network's growing adoption and has helped it secure its position among the top three blockchains for real-world asset tokenization. The network has now surpassed $540 million in on-chain RWAs, further cementing its status as a leading player in the blockchain space.

According to DefiLlama data, Aptos has also crossed the $1 billion milestone in total value locked (TVL) for on-chain assets, placing it in direct competition with established networks. This milestone has further fueled bullish sentiment among investors, who see the potential for significant price appreciation. Veteran cryptocurrency traders anticipate that APT could reach $8 and $10 in the near future, given the confluence of growth catalysts and bullish technical developments.

The APT/USDT daily chart displays a bullish breakout from a prolonged falling wedge pattern, a classic reversal formation. This technical structure suggests that sustained trading above the former wedge resistance (now support) could drive prices higher in the short-to-medium term. The breakout pattern suggests an upside target of approximately 65.19%, projecting the $8 level based on the height of the wedge formation. This technical structure suggests that sustained trading above the former wedge resistance (now support) could drive prices higher in the short-to-medium term.

The APT/USDT weekly timeframe shows a robust multi-touch support zone within the $4.00-$4.20 range, which has served as a launching pad for multiple bullish reversals since late 2022. Price is currently rebounding from this key zone after forming a potential double bottom pattern, suggesting renewed bullish interest if the level is maintained. The structure indicates that a sustained close above this support could initiate a new upward cycle, initially targeting the $10.52 level, followed by intermediate resistance levels at $15.26 and $19.43. The bullish projection remains valid as long as APT maintains trading above the critical demand zone; a breakdown below this level would invalidate the setup and shift sentiment bearish.