Algorand releases 2023 Q4 status report: market value increased by 123% month-on-month, and transaction volume increased by 58% month-on-month
Messari has released Algorand's Q4 2023 status report, showing a 123% increase in market value compared to the previous quarter. Algorand added 1.9 million new addresses in Q4 2023, representing a 72% increase compared to the previous quarter. Algorand's transaction volume increased by 58% compared to the previous quarter, driven mainly by a 43% increase in native ALGO trading volume.
In Q4, the xGov grant program continued with 18 grant applications approved by xGov participants, totaling 1.5 million ALGO (332,000 USD).
Algorand's DeFi TVL increased by 109% compared to the previous quarter, recovering from the closure of Algofi in the previous quarter and reaching the second-highest level of last year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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