{"id":516413,"date":"2023-01-17T09:20:55","date_gmt":"2023-01-17T14:20:55","guid":{"rendered":"https:\/\/wncen.com\/?p=516413"},"modified":"2023-03-08T07:25:44","modified_gmt":"2023-03-08T07:25:44","slug":"algorand-tvl-hits-177m","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/algorand-tvl-hits-177m\/","title":{"rendered":"Algorand TVL Hits $177 Million As Altcoin Rally Continues – Can ALGO Sustain This Push?"},"content":{"rendered":"

Algorand is one of the fastest growing crypto in terms of gains. According to <\/span>CoinGecko<\/span><\/a>, the token has appreciated by 30% in the last two weeks. With the broader crypto market <\/span>rallying<\/span><\/a> as Bitcoin breaks its crucial $21,000 resistance, ALGO is set to gain more in the next few days.\u00a0<\/span><\/p>\n

The Total Value Locked department is where the ecosystem gained the most. According to <\/span>DeFiLlama<\/span><\/a>, Algorand\u2019s TVL yesterday hit $177 million in value. This uptick in TVL is a bullish indicator that the ecosystem still has the momentum to reach new milestones.\u00a0<\/span><\/p>\n

However, the token might be on shaky ground as the bears test its current support at $0.2275.\u00a0<\/span><\/p>\n

\n
Related Reading: Polkadot Shows No Sign Of Slowing, As DOT Gains 33% In Last 7 Days<\/a><\/div>\n<\/div>\n

\"Algorand\"<\/h2>\n
Image: Forkast<\/pre>\n
Algorand Developments On-Chain<\/strong><\/h2>\n
Algorand\u2019s G6 governance commitment period ended yesterday, January 16. According to Algorand blockchain explorer, <\/span>AlgoExplorer<\/span><\/a>, more than 4.1 billion ALGO is staked by over 31,763 governors.\u00a0<\/span><\/p>\n
\"\"<\/p>\n
Image: DeFiLlama<\/span><\/a><\/pre>\n
The ecosystem would pay back the governors with an annual return rate of 6.52%. This way of governance makes the Algorand ecosystem stay true to the tenets of decentralized finance. To add to this bullishness, the ecosystem also processed its 1 billionth transaction.\u00a0<\/span><\/p>\n
With the ecosystem able to handle more than <\/span>2,881 swaps<\/span><\/a> on-chain, Algorand is expected to continue growing in popularity.<\/span><\/p>\n
\n
Did you know Algorand can handle over 10x the number of AMM swaps per second relative to #solana<\/a> #Avalanche<\/a> #polygon<\/a> #bsc<\/a> #celo<\/a> #ethereum<\/a>? $sol<\/a> $matic<\/a> $algo<\/a> $bsc<\/a> $eth<\/a> \ud83d\udc47 pic.twitter.com\/7hBmduanfM<\/a><\/p>\n
\u2014 Axetrax (@Axetrax22) January 14, 2023<\/a><\/p><\/blockquote>\n
Can ALGO Continue Its Climb?\u00a0<\/strong><\/h2>\n
The token is currently trading at $0.2329, a nearly 1% decrease from yesterday\u2019s $0.2341 price. The rejection at $0.2418 would delay ALGO\u2019s recovery. With the token\u2019s support at $0.2365 broken, ALGO investors should be able to buy the current dip in price as <\/span>analysts<\/span><\/a> are still bullish with the token\u2019s price movement.\u00a0<\/span><\/p>\n
With <\/span>improving<\/span><\/a> macro trends, investors and traders are more likely to enter <\/span>riskier<\/span><\/a> assets like cryptocurrencies. Not to mention that Bitcoin, the face of the crypto market, has broken through crucial resistance at $21k. With ALGO\u2019s high correlation to BTC, ALGO can ride Bitcoin\u2019s rally to reach higher highs.\u00a0<\/span><\/p>\n
Investors and traders should watch the current market situation of ALGO as the token\u2019s current price position as the ecosystem has been having trouble <\/span>maintaining<\/span><\/a> a social presence.\u00a0<\/span><\/p>\n
<\/p>\n
ALGO total market cap at $1.6 billion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
\n
Related Reading: TRON Snags No. 2 Spot In TVL As Revenue Spikes Despite Bear Market Pressure<\/a><\/div>\n<\/div>\n
ALGO holders should also watch Bitcoin\u2019s price rise in the next few days or weeks. The $21k resistance break wiped out the lost ground following the <\/span>collapse<\/span><\/a> of FTX. If BTC continues its bullish recovery in the next few weeks or days, ALGO can ride the upward wave.\u00a0<\/span><\/p>\n
But with the token facing a slight correction, this bullish break might be delayed as the bears retest the current support at $0.2275. If the bears win the struggle, the token\u2019s recovery will inevitably be delayed.<\/span><\/p>\n
Featured image from ThoughtCo<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Algorand is one of the fastest growing crypto in terms of gains. According to CoinGecko, the token has appreciated by 30% in the last two weeks. With the broader crypto market rallying as Bitcoin breaks its crucial $21,000 resistance, ALGO is set to gain more in the next few days.\u00a0 The Total Value Locked department is where the ecosystem gained the most. According to DeFiLlama, Algorand\u2019s TVL yesterday hit $177 million in value. This uptick in TVL is a bullish indicator that the ecosystem still has the momentum to reach new milestones.\u00a0 However, the token might be on shaky ground as the bears test its current support at $0.2275.\u00a0 Related Reading: Polkadot Shows No Sign Of Slowing, As DOT Gains 33% In Last 7 Days Image: Forkast Algorand Developments On-Chain Algorand\u2019s G6 governance commitment period ended yesterday, January 16. According to Algorand blockchain explorer, AlgoExplorer, more than 4.1 billion ALGO is staked by over 31,763 governors.\u00a0 Image: DeFiLlama The ecosystem would pay back the governors with an annual return rate of 6.52%. This way of governance makes the Algorand ecosystem stay true to the tenets of decentralized finance. To add to this bullishness, the ecosystem also processed its 1 billionth transaction.\u00a0 With the ecosystem able to handle more than 2,881 swaps on-chain, Algorand is expected to continue growing in popularity. Did you know Algorand can handle over 10x the number of AMM swaps per second relative to #solana #Avalanche #polygon #bsc #celo #ethereum? $sol $matic $algo $bsc $eth \ud83d\udc47 pic.twitter.com\/7hBmduanfM \u2014 Axetrax (@Axetrax22) January 14, 2023 Can ALGO Continue Its Climb?\u00a0 The token is currently trading at $0.2329, a nearly 1% decrease from yesterday\u2019s $0.2341 price. The rejection at $0.2418 would delay ALGO\u2019s recovery. With the token\u2019s support at $0.2365 broken, ALGO investors should be able to buy the current dip in price as analysts are still bullish with the token\u2019s price movement.\u00a0 With improving macro trends, investors and traders are more likely to enter riskier assets like cryptocurrencies. Not to mention that Bitcoin, the face of the crypto market, has broken through crucial resistance at $21k. With ALGO\u2019s high correlation to BTC, ALGO can ride Bitcoin\u2019s rally to reach higher highs.\u00a0 Investors and traders should watch the current market situation of ALGO as the token\u2019s current price position as the ecosystem has been having trouble maintaining a social presence.\u00a0 ALGO total market cap at $1.6 billion on the daily chart | Chart: TradingView.com Related Reading: TRON Snags No. 2 Spot In TVL As Revenue Spikes Despite Bear Market Pressure ALGO holders should also watch Bitcoin\u2019s price rise in the next few days or weeks. The $21k resistance break wiped out the lost ground following the collapse of FTX. If BTC continues its bullish recovery in the next few weeks or days, ALGO can ride the upward wave.\u00a0 But with the token facing a slight correction, this bullish break might be delayed as the bears retest the current support at $0.2275. If the bears win the struggle, the token\u2019s recovery will inevitably be delayed. Featured image from ThoughtCo<\/p>\n","protected":false},"author":557,"featured_media":516414,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[71760,71759,142,6664,84310],"class_list":["post-516413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-algo","tag-algorand","tag-altcoins","tag-crypto","tag-tvl"],"acf":[],"yoast_head":"\nAlgorand TVL Hits $177 Million As Altcoin Rally Continues - Can ALGO Sustain This Push?<\/title>\n<meta name=\"description\" content=\"Algorand is one of the fastest growing crypto in terms of gains. According to CoinGecko, the token has appreciated by 30% in the last two weeks. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Algorand TVL Hits $177 Million As Altcoin Rally Continues – Can ALGO Sustain This Push?","url":"http:\/\/wncen.com\/news\/algorand-tvl-hits-177m\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/algorand-tvl-hits-177m\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/alg.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/alg.png?fit=873%2C580"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["algo","algorand","altcoins","crypto","tvl"],"dateCreated":"2023-01-17T14:20:55Z","datePublished":"2023-01-17T14:20:55Z","dateModified":"2023-03-08T07:25:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Algorand TVL Hits $177 Million As Altcoin Rally Continues – Can ALGO Sustain This Push?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/algorand-tvl-hits-177m\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/algorand-tvl-hits-177m\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/alg.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/alg.png?fit=873%2C580\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"algo\",\"algorand\",\"altcoins\",\"crypto\",\"tvl\"],\"dateCreated\":\"2023-01-17T14:20:55Z\",\"datePublished\":\"2023-01-17T14:20:55Z\",\"dateModified\":\"2023-03-08T07:25:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/alg.png?fit=873%2C580","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/516413"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=516413"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/516413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/516414"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=516413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=516413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=516413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}