$ALGO Q2 2024: Staying Strong?! ๐ Despite a dip in overall DeFi TVL, Algorand's Q2 report by Messari showcases continued growth and strong fundamentals. ๐ช๐ฅ
Here are the key takeaways:๐ป๐
1) Transaction Surge: Transactions skyrocketed by 104% on average daily, demonstrating sustained network activity even after the Q1 ORA memecoin project boost. ๐
2) Messina Shines: Messina, a leading #ALGO DeFi platform, experienced a whopping 440% growth in TVL compared to Q1.๐
3) Strategic Alliances: Partnerships with Nansen and Coinbase (USDC support) expand the Algorand ecosystem.๐ฉโ๐ฉโ๐ฆโ๐ฆ
4) Community Focus: The xGov program awarded 2.35 million ALGOs (around $190,000) across 23 grants, fostering innovation within the community. ๐
5) Global Hacking Frenzy: Over 2,000 individuals participated in the "Change the Game" hackathon, highlighting strong developer interest. ๐ ๏ธ
Overall, #Algorand 's Q2 report paints a picture of a growing blockchain network with a vibrant community and a focus on both infrastructure and user adoption. ๐๐ DYOR! #Altcoins
Check out Messaris' research report from more info!! ๐