DeFI News by Thebittimes.Com

Join Our Telegram channel to stay up to date on breaking news coverage Since mid-June this year Algorand Price has been largely trading within two Fibonacci levels. Even now, price action is on its way to the lower limit of that range, after a fake-out of the upper limit. ALGO Forecast Statistics Data : Algorand’s current price: is $0.3093 Algorand market cap: $2.15 billion ALGO circulating supply:  7 billion Algorand total supply: 7.25 billion ALGO Coinmarketcap ranking: #29 Crucial Price Levels : Resistance: $0.3093, $0.3105, $0.3135 Support: $0.3070, $0.3050, $0.3020 Algorand Price Prediction Today, October 21, 2022: ALGO/USD Focuses Strong Support After ALGO/USD faked out of the Fib level of 78.60 around 24 of September, the price in this market has been moving towards the support of 100 Fibonacci support. Also, this support aligns with the price level of $0.2733. The last price candle on this chart portrays buyers’ effort to pull the price up, ...

The DeFi market kickstarted its recovery a few days back. On 16 October, the total value locked in all protocols was at its lowest point in October. From there, a trend reversal started materializing, and at press time, the said metric depicted an elevated reading of $54 billion. As depicted below, a close to 1% recovery has been noted on this front over the past day. Source: DeFiLlama Individual protocols like Maker and Lido Finance have noted inclines greater than 4% over the past week, instigating the broader recovery. Source: DeFiLlama Interestingly, Algorand’s TVL has been inclining since the beginning of this month. From a low of $175 million registered on 7 October, the value of all tokens locked on its platform has inclined to create a new all-time high of $274 million. The same has, notably, registered a 2% rise over the past day. Source: DeFiLlama Ripple effects On the price front, three tokens among the top five gainers on Wednesday were DeFi-related....