Aptos-based Echelon Market was fastest growing DeFi app in April as its TVL rose 3,470% to $30.5M
Aptos Weekly Overview - May 2, 2024
Welcome back to Aptos’ Weekly Overview. The best place for Aptos community members to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place. Every Thursday.
By The Numbers
Aptos transactions this week: 10.5M (-3.5%)
Network transactions per second (TPS): 17.3
Active users: 448.1K (-19.9%)
New users this week: 213.6K
Total staked APT: 908.09M (+0.2%)
Aptos total value locked (TVL): $351.3M (-3.6%)
NFT weekly sales: 22.K (-20.5%)
The percentages and metrics are based on a 7-day timeframe from Flipside data as of April 29, unless noted otherwise.
Inside the blockchain
🌐What happened: Echelon Market was the top project by TVL growth in April, according to CryptoRank data monitoring projects with TVL greater than $10 million.
🌐Why does it matter: In late March, the Move-based DeFi app Echelon launched on Aptos with a focus on lending and borrowing. In April, the project grew its TVL 3,470%, to $30.5 million, the data showed. During the first month, it hit over $34 million supply and its total borrowings exceeded $22 million, the startup shared on X. To date, it has processed about 38,000 transactions for 5,400 users, according to Flipside data.
All these numbers are pointing to exponential growth for the money market app and as it gears up for more partnerships, announcements and integrations – as well as its points program – there’s room for it to reach higher levels.
🌐The big picture: Echelon Market is one of many applications launched on Aptos that has gained a strong user base and steady increase in volume. While its in early days, its current growth level signifies the overall strength being on Aptos brings to projects and its ability to help propel projects to the next level.
Ecosystem wins
Securitize raised $47M in a strategic funding round, with participation from Aptos Labs
TOYMAK3ERS and Aptos Labs partnered to bring Deadmau5 fans immersive VIP digital experiences and limited edition goods
Aptos partnered with Mon Protocol, the publisher of Pixelmon metaverse, to grow its onchain gaming
Movement Labs raised $38M for its Move-based EVM and received additional investment from Binance Labs on Wednesday
The community is makin’ Moves
ICYMI: Listen to Aptos and Spooks Lab discuss gaming onchain
Metaschool launched its Introduction to Aptos Chain course for developers
Beluga Aptos Startpack is live: learn about Aptos projects and get rewarded with free tokens
Listen in: Aptos co-founder Mo Shaikh and Ryan Selkis, Messari Crypto founder and CEO are doing an X Space on Aptos Ascend at 3:15 pm EST on Wednesday
By the headlines
You might have seen these Aptos-related headlines recently…
Aptos Labs, TOYMAK3RS, and Deadmau5 Bring New Era For Music Fandom (Alexa Blockchain)
Shinami Launches Gas Credits Program on Aptos (Aptos Blog)
🎙️Listen in: Fastest Block podcast brought on Alex Kahn from Econia Labs to dive into next generation DeFi on Aptos
Join in the fun
Want to dive into the ecosystem full-time? Find the latest job postings on Aptos Foundation here.
Apply to be an Aptos Ascend partner to help expand the future of financial infra
Register for the Aptos Art Night in NYC is May 13 from 6-9PM EST
Join Aptos World Tour 2024 in Vietnam: June 7-8 for GM Vietnam 2024
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.