Algorand’s TVL jumped over 300% in 30 days, reaching $244 million before stabilizing at $184.5 million.
- Algorand’s TVL jumped 300% in a month, with Folks Finance the main catalyst for DeFi growth.
- ALGO price maintains bullish momentum, supported by increasing network activity.
Algorand [ALGO] has seen a notable increase in Total Value Locked (TVL) over the past month. Supported by protocols like Folks Finance, this growth reflects renewed interest in the Algorand ecosystem. Meanwhile, despite minor corrections, ALGO’s bullish price performance and rising network activity show sustained momentum.
DeFi drives Algorand’s rising price
Algorand has experienced impressive growth in Total Value Locked (TVL), registering growth of over 300% in the past 30 days, according to data from DeFiLlama. On December 3, the blockchain’s TVL reached $244.74 million, the second highest level in its history. However, at the time of writing, TVL has stabilized around $184.5 million, reflecting a small correction but maintaining its upward trend.

TVL growth was significantly accelerated by Folks Finance, which saw a 289% increase in the last month, with over $284 million in assets locked in the platform.
This makes it the leading protocol driving the expansion of Algorand’s DeFi ecosystem. Other DeFi protocols in Algorand have also seen a steady increase in activity, signaling renewed interest in its ecosystem.
Price Performance: Bullish Momentum Remains
Algorand’s native token, ALGO, has reflected the positive on-chain metrics with significant price gains. ALGO was trading at $0.4965, reflecting a small decline from its recent highs but maintaining a strong overall uptrend. The token crossed above its 200-day moving average, signaling a bullish outlook.

The relative strength index (RSI) of 74.08 indicates that ALGO is currently in overbought territory, suggesting a potential consolidation or profit-taking.
Volume Analysis: Increasing Network and Market Activity
Algorand’s recent Total Value Locked (TVL) performance has been strongly supported by active trading. Network trading volume has seen an increase, reaching 27.36 million on December 8. Data from DefiLlama shows a significant spike in Algorand’s network volume, reaching 2.33 billion ALGO at the end of November.

Although it has since recovered to around 788.44 million ALGO, these high levels still indicate increased activity on the network. This coincides with the explosive growth in TVL recorded on platforms like Folks Finance. The growth suggests increased engagement on the network.
Furthermore, data from Santiment shows a significant spike in ALGO volume, reaching 2.33 billion ALGO at the end of November. Although it has since recovered to around $788.44 million, these high levels still indicate increased activity on the network.

The interaction between network and trading volume signals increased utility and interest in Algorand. However, given the fact that both metrics have bounced back from their recent highs, it remains to be seen whether the network will be able to maintain its recent momentum or if a correction is imminent.
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