Aptos Blockchain Sees Explosive DeFi Growth in 2024

• The Aptos DeFi ecosystem has experienced rapid growth in 2024, with a nearly tripled TVL and 3.5 million monthly users.
• Panora Exchange leads the crypto space as the top DEX aggregator, surpassing $1 billion in trading volume.

The Aptos blockchain is making considerable progress in the DeFi ecosystem, with important developments over the last week across a variety of projects and alliances. Notably, Aptos’ total value locked (TVL) has grown significantly, nearly tripling in 2024 alone.

Furthermore, the number of monthly active users (MAUs) has topped 3.5 million, with bridged volume approaching $2 billion. These data highlight the rapid rise of Aptos decentralized finance (DeFi) landscape, as the platform draws an increasing number of users and projects.

What happened in Aptos DeFi this week?

By the numbers 🔢
• Aptos TVL has nearly tripled in 2024
• MAUs have surpassed 3.5M
• Nearly 2B in bridged volume
• Infinite number of DeFi ecosystem updates & partnerships ♾️

Here's what you missed—plus some updates from…

— Aptos (@Aptos) September 14, 2024

Aptos Strengthens Its Position in DeFi with Pandora’s Rise and Key Partnerships 

Panora Exchange, a decentralized exchange (DEX) aggregator, stands up among Aptos DeFi’s top achievers. According to DefiLlama data, Panora Exchange has ascended to become the top DEX aggregator in all of crypto, an impressive feat in a highly competitive industry.

In addition to this recognition, the platform recently passed a critical milestone by reaching over $1 billion in trade volume. Panora’s dominance in the DeFi industry demonstrates Aptos’ expanding popularity as a blockchain network, providing consumers with a seamless and efficient trading experience.

In another significant move, Amnis Finance has partnered with the Aptos Foundation to launch the Movementum Accelerator. This program aims to promote innovation in the Web3 startup ecosystem, particularly in the APAC area.

The Movementum Accelerator, which offers grants of up to $1 million, is intended to promote new Web3 enterprises by providing them with the tools they require to grow and survive in a fast changing digital landscape.

B² Network has formed a strategic relationship with the Aptos Foundation and Echo Protocol. This collaboration is particularly intriguing because it wants to expand Bitcoin Finance (BTCFi) within the Aptos ecosystem.

The effort is the first BTCFi experiment in the Move ecosystem, providing an attractive 10% annual percentage yield (APY) for Bitcoin bridged from B² Network to Echo Protocol on Aptos. This trial could pave the door for additional new financial products on Aptos, broadening the blockchain’s application possibilities.

According to prior reports from Crypto News Flash (CNF), Tether’s USDT stablecoin is another significant integration into the Aptos network. The integration of USDT to Aptos improves accessibility by giving consumers a reliable, low-cost choice for transacting inside the ecosystem.

This move also takes advantage of Aptos sophisticated blockchain technology, which positions it as a competitive platform in the stablecoin industry.

Despite these favorable improvements, Aptos’ native token, APT, has had a subpar market performance. At the time of writing, APT is trading at $5.82, down 4.74% over the last 24 hours. The coin has been consolidating in recent weeks as it deals with market volatility.