I just noticed that Aptos is really struggling in the market right now. Its TVL has dropped below $650 million, which further indicates weakness in the ecosystem. Many were optimistic about Aptos before, but now on-chain activity has weakened, daily revenue is only $1.4K, and investors are starting to lose confidence.

The most interesting thing is that the valuation of APT itself seems no longer sustainable. With such a large market cap but TVL of Aptos continues to decline and liquidity decreases, it's hard to maintain momentum. The price of APT has dropped drastically, and many analysts are starting to ask, what is the competitive advantage that Aptos has? Other blockchains are already much more advanced in terms of adoption and developer activity.

From the chart, it also looks like APT's performance over the past year has been very poor. This isn't just a market trend, but more about fundamental issues within the Aptos ecosystem. If there are no major updates or game-changing partnerships, it's difficult to see a short-term recovery. So, this is actually a warning sign for those who are still holding or considering entering Aptos.