Decentralized cryptocurrency Algorand ( ALGO), total locked assets ( TVL) reached record levels.
Popular decentralized project Algorand, especially NFT and metaverse has been on the agenda with his work. ALGO, which continues to be active within the scope of network configuration and developments, could not meet the expectations in terms of price. In addition, the project team algophyannounced the launch of a service called
Algorand Gained Interest in DeFi with Algofi
Algorand as part of network enhancements DeFi announced its service Algofi. With this announcement, the project, which attracted the attention of crypto money investors, experienced growth in network activity.
DeFi LlamaAccording to data released by Algofi protocol, in the last seven days 15 percent recorded an increase of . The increase in activity of the loan protocol also positively affected the approach to the Algorand network.
But the increasing TVL on the popular network has also been affected by different enhancements. centiment According to , the project team spent a lot of time on network improvements. As a result of this work, there was an increase in network development activities. ALGO development activities saw an increase of about 20 percent.
Algorand Data, ALGO Price
TVL rate with the effect of the developments in the Algorand network 237 million close to the dollar. This amount was the highest TVL level reached by the network. General DeFi TVL rates 54 billion dollars experienced an increase. In this inflow, the growth of the ALGO side, although small, was the highest level for the project.
In the social metrics section Algorandpositive signals were received. centiment According to the data, interest in the ALGO ecosystem has started. The project, which experienced a rise in terms of social activity and dominance, gained a strong momentum. about percent from level 0.143, percent to 0.626 levelsexperienced a rise.
The general stability in the price of ALGO also attracted new investors to the project. These investors contributed to the rise of TVL by discovering network activities. The Algorand network, which is seen as a reliable port for additional income against staking and inflation, gave a positive mood in the metrics.
