Algorand's Meteoric Rise: What's Next for ALGO?
TL;DR Summary
Algorand's Total Value Locked (TVL) surged by 300% in the past month, driven by protocols like Folks Finance, which saw a 289% increase in assets locked. This growth reflects renewed interest in Algorand's DeFi ecosystem. Despite minor price retracements, ALGO maintains a bullish momentum, supported by rising network activity and trading volumes. However, with both TVL and trading volumes pulling back slightly from recent highs, it remains uncertain if the network can sustain this momentum or if a correction is forthcoming.
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