$10 from Aptos? Here's what needs to happen for APT to rally

• Aptos price action shows the promise of higher prices.
• Witness the increase in TVL, number of transactions and speed of blockchain.

Apartment [APT] There has been a downward trend since April, with price movements following the downward trend since May. The APT/USDT pair has touched this trendline four times on the daily chart, encountering rejection each time.

However, during the fourth touch, the price did not break down to the lower lows, indicating a possible weakening of the bearish trend.

Additionally, a head and shoulders pattern has formed, a common price reversal signal if the neckline is broken and sustained above.

To confirm the APT $4.30 level as the floor for the current cycle, the price must break and hold above the $7.50 level.

Source: Giray/X

Achieving that could set the stage for growth toward $10 or more by the end of this year or early 2025 as more metrics show.

Take Aptos and TVL

Aptos' key metrics point to growing adoption. Total Value Locked (TVL) in Aptos is currently $439 million, ranking it 18th overall and 6th among non-EVM chains.

Despite only launching its mainnet in 2022, Aptos has risen up the TVL rankings, showing evidence of rapid market penetration.

TVL remains stable despite price fluctuations, suggesting strong asset circulation and growing confidence in the platform.

Source: DefiLlama

Additionally, the stablecoin market cap at Aptos has expanded, reinforcing the perception of growing adoption and trust.

Daily active users and transactions

Aptos demonstrates consistent growth within the Layer-1 blockchain. In the past 18 months, active users have grown steadily, with the number exceeding 200,000 daily.

This impressive figure ranks it 13th across all blockchains (Layer-1 and Layer-2). Aptos Explorer reports an average of 1 million user transactions per day.

While transactions can be complicated to interpret, the high daily active user count supports the network's significant activity level.

Source: Token Terminal

Transaction speed and scalability

Aptos excels in transaction speed, averaging around 25 transactions per second (TPS). In the last 30 days, the maximum has reached as high as 12,000 tps

It has demonstrated its scalability with record-breaking transaction volumes. In May, the network processed nearly 100 million transactions in a single day.

In four days, it handled 325 million transactions, maintained 2,000 tps for more than 24 hours, with a peak close to 5,000 tps.

This performance highlights Aptos' ability to handle high transaction volumes efficiently.

Source: Token Terminal

Read Aptos' [APT] Price Forecast 2024-25

Aptos shows strong potential for high value backed by adoption metrics, active user base and scalability.

When price approaches key resistance levels and acceptance increases, APT can see significant upward movement, making it a promising investment in the near future.