Aptos (APT) is currently trading at approximately $4.60, gaining over 8% in the past 24 hours as it heads towards critical resistance at $4.70. This surge aligns with the imminent launch of the USD1 stablecoin by World Liberty on October 6.

The Aptos Foundation has announced that the USD1 will be the first stablecoin supported on a Move-based blockchain and will facilitate large-scale financial applications akin to Meta’s Libra project.

As the market awaits this launch, several DeFi protocols on Aptos will integrate USD1, allowing immediate transactions for institutional and retail users through platforms like Echelon, Hyperion, Thala, and Tapp.

Price Approaching Key Resistance

Analyst Lennaert Snyder has indicated that Aptos is nearing a crucial resistance level at $4.70. He noted, “If we break that, we confirm the reversal on a very long downtrend,” suggesting that $6.77 could be a realistic target for traders.

"$APT is pumping to key $4.70 resistance as mentioned a couple of days ago. If we break that, we confirm the reversal on a very long downtrend. Testing $6.77 resistance is a realistic target with multiple TP’s in between."
— Lennaert Snyder

Market Activity

Furthermore, on-chain metrics reveal that daily active addresses on the Aptos network hover close to 1 million, indicating robust user engagement. Data from DefiLlama shows total value locked (TVL) on Aptos at approximately $739 million.

With the combination of increasing user engagement and the upcoming stablecoin launch, APT’s test of the $4.7 resistance may signal a pivotal change in its market trajectory.