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- Algorand’s TVL increased 12%, driven by activity on major DeFi platforms.
- A Coinbase partnership boosted ecosystem growth, adding thousands of new users.
- Analysts project Algorand’s price could reach $6–$21 by 2040 with sustained adoption.
Algorand is gaining ground as big-cap projects continue their impressive growth. A recent partnership with Coinbase sparked excitement, offering rewards for exploring Algorand dApps. This campaign attracted thousands of new users, with over 124,000 accounts created on a single day. Meanwhile, the Total Value Locked (TVL) on Algorand surged 12% this quarter, showing increased activity on platforms like Folks Finance and Tinyman. Priced at $0.2124, Algorand is positioned for further growth.
The Big cap projects are rising significantly, and $ALGO is following the trend. 👌
— Lucky (@LLuciano_BTC) November 18, 2024
As you can see from my previous post, we are profiting by +100%, Signaling strong market confidence.
In my opinion, @Algorand is poised for even greater heights.
DYOR – NFA https://t.co/W3e8xmS5CP pic.twitter.com/gap3mxfcaW
Surging TVL and Expanding Ecosystem
Algorand’s DeFi TVL grew from $173 million to $194 million this quarter. Platforms like Folks Finance, Tinyman, and Lofty played a key role in driving this growth. However, smaller DeFi projects saw less activity, with the average protocol TVL dropping by 21%.
The September 2024 partnership with Coinbase provided another boost. Users earned rewards for exploring dApps like Tinyman and Pera Wallet. This campaign created a surge in new accounts, setting daily records and expanding the ecosystem. These developments show Algorand’s growing presence in the DeFi space.
Price Projections and Future Growth
Currently priced at $0.2124, Algorand holds potential for significant price increases. Analysts predict values between $0.105 and $0.31 by the end of 2024.
Long-term projections suggest prices could rise to $6 or even $21 by 2040.Sustained adoption and market momentum will play a critical role in driving these gains. With growing user engagement and strong partnerships, Algorand is well-positioned for the future. The blockchain’s expanding ecosystem highlights its importance in the evolving DeFi landscape.
Algorand is building a solid foundation for success. With consistent growth and bold forecasts, this project continues to attract attention and excitement. Investors and users alike recognize the potential for Algorand to reach new heights in the coming years.