Aptos price increased by 9.8% over 24 hours due to media hype around the Shelby protocol, strong on-chain growth, and positive technical momentum.
Launch of Shelby (June 24) with a 36% increase in APT
The decentralized finance (DeFi) funding volume has tripled since January
Technical breakout above key moving averages
1. Main catalyst: Launch of the Shelby protocol
Aptos Labs and Jump Crypto announced Shelby on June 24, a decentralized cloud storage network targeting AI applications, live streaming, and DePIN. Key drivers include:
- Chain-independent design with fast data access
- Support from the Ankaa fund worth $10 million for Move-based projects (Aptos Labs)
- Devnet launch scheduled for Q4 2025, attracting developer interest
This announcement led to a 36% increase in APT's value within the day, from $3.66 to $5.01, with remaining momentum continuing in today's trades.
2. Supporting factors: Network growth
Blockchain metrics show acceleration in adoption:
- Trading volume on decentralized exchanges (DEX): $3.46 billion in June versus $690 million in January (+401%)
- Market capitalization of stablecoins: $1.4 billion (as of 2024) versus $650 million
- Active addresses: 1 million weekly in June versus 644 thousand in April (DeFiLlama).
These fundamental factors balance APT's performance, which has declined by 21% over 90 days, indicating renewed institutional interest.
3. Technical context: Confirming the breakout
APT's share is trading at $4.76 with:
- Bullish crossover of the MACD indicator (chart 0.0218)
- Price is above the simple moving averages of 10/20/30 days (range $4.42-$4.86)
- 24-hour trading volume rose to $645 million (+250%)
This move tests the 50-day simple moving average ($5.00) - a breakout above this level could target a Fibonacci resistance level at $5.15 (23.6% level).