Today (2), Bitcoin has slightly rebounded to around 106,100 USD, but it has failed to recover the losses from overnight. Meme coins like Fartcoin (FARTCOIN) and SPX6900 (SPX) have led the market pullback in the past 24 hours, with a double-digit decline. Algorand (ALGO) also failed to hold its strong opening on Tuesday, continuing its downward trend with a big dump of 7%.

Golden Finance reported that the Tokenomics team of the Algorand Foundation released a new study questioning one of the most cited metrics in the Crypto Assets field—Total Value Locked (TVL). This report provides the strongest evidence to date that, despite TVL occupying a significant position in various dashboards, news headlines, and investor profiles, it has no impact on the financial performance of Tokens. A recent analysis of over 300 Crypto Assets (excluding Bitcoin and stablecoins) during the 2023-2024 period, led by Dr. Matthew Brigida, associate professor of finance at the State University of New York and chief economist of the Algorand Foundation, shows no evidence that TVL can predict the value performance of Tokens.

The FIFA Collect platform will migrate to the EVM-compatible FIFA Blockchain, enhancing performance and scalability. Assets will be automatically migrated, and the user experience will remain largely unchanged, but users will need to re-import off-chain collectibles. It is important to export before the migration; otherwise, trading will not be possible. There will be a short downtime of 10 hours during the migration. After the migration, support for MetaMask and other EVM Wallets will be available, but it will no longer be compatible with Algorand Wallet. Balances can be withdrawn but cannot be spent.

The Algorand Foundation calls on the Musk government efficiency department to adopt the DOGE blockchain for government operations, emphasizing that Algorand technology can improve transparency and protect sensitive government data, but the network is slower.

The Algorand Foundation's leadership has established the Humanitarian Payments Committee, whose members include Circle, Worldpay Global, Mercy Corps Ventures, UN Development, and HesabPay. The committee aims to use blockchain technology to transform aid delivery, provide recommendations to the United Nations, and develop a blockchain-based cash program roadmap.

Gate News bot message, the Algorand Foundation officially announced that the Wormhole native Token transfer (NTT) standard will be integrated into the Algorand Blockchain network. This integration project is completed in collaboration between Algorand and the lending and liquid staking protocol Folks Finance on the Algorand platform. It is reported that the NTT standard of Wormhole currently...

Gate News, amidst the fluctuations in the Crypto Assets market, certain types of alts are showing strong rebound momentum. This week, the cryptocurrency known as "Made in America," such as Bitcoin Cash (BCH) and Algorand (ALGO), surged significantly on Monday, outperforming the market in the past 24 hours. Similarly, the Privacy Coin Monero (XMR) has maintained a bullish trend after last week's rebound and is expected to rise further. The performance of these coins may signal a new direction for market recovery.

Gate News Bot news, on July 1st, according to CoinMarketCap, as of the time of writing, ALGO (Algorand) is currently priced at $0.19, having risen 4.08% in the last 24 hours, peaking at $0.19 and falling to a low of $0.17. The current market capitalization is approximately $1.653 billion, an increase of $64.8 million compared to yesterday. Algorand is an energy-efficient

According to Gate News bot, Whale Alert has monitored that USDC Treasury has issued 100,000,000 USDC on the Algorand chain, valued at 99,977,100 USD.

A new study by the Algorand Foundation's tokenomics team challenges one of the most widely cited metrics in the crypto space – Total Value Locked (TVL) – suggesting that while TVL features prominently in dashboards, news headlines, and investor profiles, it has nothing to do with the token's financial performance. Previously, researchers found that TVL was exaggerated. Many protocols calculate the same batch of funds multiple times, distorting perceived usage and inflating the legitimacy of this metric. Now, researchers have conducted a comprehensive analysis of more than 300 cryptocurrencies (excluding Bitcoin and stablecoins) between 2023 and 2024 and found no evidence that TVL is representative of the token's performance. The research team constructed a weekly portfolio, ranking the tokens by TVL, holding the top 25% of the tokens and shorting the bottom 25% of the tokens to test whether the high-low TVL combination was able to generate alpha returns, which was not the case.

Italian green energy company Enel has partnered with encryptionWallet provider Conio to launch solar panel tokenization products on the Algorand blockchain. The product allows Italian residents to offset their residential electricity bills by owning a portion of Enel's solar farms and utilizing the generated power. The project provides residents with a new way to manage energy consumption.

Golden Finance reported that according to Lookonchain monitoring, DWF Labs deposited another 2 million ALGO ($1.14 million) to the exchange 3 hours ago. Since November 21, DWF has...

Odaily Planet Daily News According to Simon Bonanno, Director of BI at Algorand Foundation, the development of the Algorand chain has shown exponential growth, completing over 2.4 in June on the X platform.

$ALGO

Multiple AltCoins have seen an increase of over 250% in the past 30 days. The high leverage usage has led to a funding rate of 4%-6% per month in Perptual Futures, increasing the trading risk. Compared to major cryptocurrencies like BTC and ETH, which have moderate leverage, AltCoins may experience a significant pullback in their upward trend.

Algorand Foundation launches the decentralized tool LiquidAuth, positioned as the decentralized WalletConnect, using standards and protocols to authenticate peer-to-peer communication between wallets and applications, providing higher security and privacy, and addressing the risk of centralized wallet communication.

BlockBeats news, on February 14th, according to Cointelegraph, analysts pointed out that although some altcoins have experienced a rise in prices, the daily active wallet numbers have not risen, indicating that altcoins are still in a 'speculative' stage, far from the peak rise of altcoins. TradingView data shows that the total market capitalization of altcoins, excluding the top ten tokens, is still close to a three-month low of $277 billion, a drop of more than 44% from the peak of $492 billion on November 10, 2021. For example, when the price of Algorand (ALGO) token was around $0.28 on February 10th, the daily active wallet addresses dropped to 182,000, while when ALGO reached its historical high of $1.46 on December 20, 2021, the active address number exceeded 1.31

The Algorand Foundation announced that xGov Term Pool 1 will expire on June 30th and the funds will be transferred to a new address in preparation for payment in the first week of July. The Foundation also stated that funds will be reallocated to directly incentivize consensus participation, with a priority on decentralization and security.

Odaily Planet News Algorand Blockchain recently announced that it will launch a stake reward program in December, which will be launched after the upgrade of the Consensus Mechanism. At that time, Block rewards will be paid in real time to validators who successfully propose Blocks on this L1 Blockchain. The reward starts at 10 ALGO per Block and decreases by 1% every 1 million Blocks. Validators will also receive transaction fees for their successful Block proposals.