Aptos' native token, APT, surged 17% to $5.07 as the stablecoin supply on its blockchain neared $1.2 billion, marking a significant milestone in its DeFi adoption. The increase in stablecoin supply, primarily driven by Tether (USDT) and USDC, highlights Aptos' growing liquidity and market presence.
In a strategic move to bolster its infrastructure, Aptos Labs, in partnership with Jump Crypto, launched Shelby, a decentralized hot-storage protocol. Shelby aims to combine web2 performance with web3 transparency and is designed to be chain-agnostic, with future support planned for Ethereum and Solana. This development has attracted interest from notable brands such as Metaplex and Story Protocol, potentially enhancing cross-chain adoption.
Aptos Token Jumps 17% Amid Rising Stablecoin Supply and New Protocol Launch
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