Algorand TVL surges 300% in a month – Will ALGO’s price mirror the uptrend?

Algorand’s TVL jumped 300% in a month, with Folks Finance driving DeFi growth.
ALGO’s price maintains bullish momentum, supported by rising network activity.

Algorand [ALGO] has seen a remarkable increase in Total Value Locked (TVL) over the past month. Fueled by protocols like Folks Finance, this growth reflects a renewed interest in Algorand’s ecosystem.

Meanwhile, despite minor retracements, ALGO’s bullish price performance and rising network activity highlight sustained momentum.

DeFi driving the Algorand surge

Algorand has experienced an impressive surge in Total Value Locked (TVL), recording over 300% growth in the past 30 days, according to DeFiLlama.

On the 3rd of December, the blockchain’s TVL hit $244.74 million, its second-highest level in history.

However, at the time of writing, TVL has settled around $184.5 million, reflecting a slight retracement but maintaining an upward trajectory.

Source: DefiLlama

The TVL growth was significantly propelled by Folks Finance, which saw a 289% increase over the past month, with more than $284 million in assets locked.

This makes it the leading protocol driving Algorand’s DeFi ecosystem expansion. Other DeFi protocols on Algorand have also seen a steady increase in activity, signaling a renewed interest in its ecosystem.