Why the rise of stablecoins on Aptos matters
Aptos Weekly Overview - December 19, 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.
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By The Numbers
Aptos transactions this week: 29.7M (+2%)
Network transactions per second (TPS): 49
Active users: 3.7M (+2.1%)
New users this week: 1.4M
Total staked APT: 898.92M (+0%)
Aptos total value locked (TVL): $1.3B (+4.5%)
NFT weekly sales: 1.6K (-54.7%)
The percentages and metrics are based on a 7-day timeframe from Flipside data as of Dec. 16, unless noted otherwise.
Inside the blockchain
🌐What happened: Aptos stablecoin market cap hit $615 million on Dec. 18, up nearly 100% on the week, DefiLlama data shows.
🌐Why does it matter: Stablecoins have grown in popularity across the entire crypto sector and show strong growth on the Aptos network.
Earlier this year, Tether (USDT) launched its stablecoin to the Aptos network. This brought the biggest stablecoin by market cap to the Move-powered blockchain, broadening the reach for accessible, dollar-backed digital assets. At the time, when Tether was first launched, the stablecoin market cap was just $273 million. Since then, it has grown more than 125%, proving that there is product-market fit for stablecoins on Aptos.
For additional reference, natively-minted USDT supply on Aptos went from $130 million to $340 million during December, Token Terminal reported. This metric is important because it shows the popularity of stablecoin usage on the network.
Aptos is optimized for scalable, secure and interoperable stablecoin usage, making it a promising landing zone to set a foundation for stablecoin dominance. This in turn could pave the way for future DeFi innovations on Aptos and encourage builders and users looking for a strong stablecoin market.
🌐The big picture: As stablecoins like USDT gain traction, its usage on the Aptos network directly aligns with a mission to provide solutions for various DeFi needs. This can lead to larger-scale adoption and developer engagement across multiple financial applications.
Ecosystem wins
Chingari hit $329.1K in volume on its video sharing social network app, according to DappRadar
VibrantX shared its Initial DEX Offering (IDO) is coming in 2025
Aptoscan added more filtering to its blockchain explorer for onchain transaction research
Aries Markets hit $478M in borrowed amount on its onchain order book and is back near all-time highs (shown below)
Source: DefiLlama
The community is makin’ Moves
Read about the Aptos ecosystem via a thread by X user Leshka
Interested in DeFi on Aptos? Check out this thread by X user dimacash
Aptos Labs Ecosystems Success Manager Alix Musset spoke about how the network supports projects building on top of it
ICYMI: Aptos Labs hosted its developer hours with Kana Labs and RNDM
By the headlines
You might have seen these Aptos-related headlines recently…
Decentralised Internet Offers Ample Opportunities to Developers: Avery Ching of Aptos (Entrepreneur India)
Aptos saw an increase of 96% in developer growth in 2024, according to the Electric Capital Developer Report
ON–297: Aptos Mega Issue (Our Network)
Join in the fun
Want to dive into the ecosystem full-time? Find the latest job postings on Aptos Foundation here.
Aptos Foundation and Rarible launched its Creative Program - learn more about it here
Aptos Monkeys hosted a space on X featuring ecosystem builders - listen here
Spooks Labs hosted an X space with the Aptos Labs team and its ecosystem about the developments in 2024
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This product was built by Token Relations.
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.