Aptos stablecoin cap passes Ethereum: So why is APT’s price declining?
Despite Aptos's (APT) increase in liquidity due to a significant rise in stablecoin supply, the price of APT remained on a downward trend, showing an approximately 11% drop over the past week. The notable growth in stablecoin supply, which expanded over five times in the past year, positioned Aptos ahead of major blockchain networks like the BNB Chain and Ethereum in terms of stablecoin circulation in the preceding 24 hours. The blockchain managed to attract over $500 million in stablecoin supply changes, outpacing the BNB Chain's just over $400 million and Ethereum's $200 million change.