According to a recent report by Messari, smart contract platform Algorand (ALGO), showcased notable growth and outperformed the general crypto market during the fourth quarter of 2023. Algorand Outperforms Crypto Market Growth Per the report, Algorand experienced a surge in market capitalization during Q4 2023, with a significant growth rate of 123%. This substantial increase can be attributed to the overall positive momentum of the crypto market, which witnessed a 53% growth in market capitalization during the same period. Transactions on the Algorand network also saw a significant uptick, increasing by 58% quarter-on-quarter (QoQ). Consequently, fee revenue rose by 60%, reaching its highest level in a year when measured in ALGO terms, while revenue in USD terms surged by an impressive 143%. Related Reading: More Pain To Come: Crypto Analyst Predicts Massive XRP Crash To $0.34 According to Messari, Algorand’s success can be attributed to its “thriving” ecosystem, which saw the launch of multiple innovative applications in Q4 2023. These applications covered diverse areas such as regulated and programmable euro, tokenized farmland, and a developer marketplace for selling code snippets. The introduction of these app ..
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