• Algorand has over 54,000 daily active addresses, surpassing Dogecoin and Avalanche.
• ALGO tokens are held, on average, for nearly 11 months.
• The holders increased their holdings from 19.4% since May.

Algorand stands out in the crowded Layer 1 blockchain space with its impressive performance metrics, but price action lags behind, according to IntotheBlock data.

Renowned for its high capacity, fast transaction finality, low fees, and carbon-neutral stance, Algorand boasts over 54,000 daily active addresses, surpassing networks like Dogecoin (52,000) and Avalanche (48,000), and ranks fifth in active users among leading protocols.

Transaction activity on Algorand has surged, doubling since late 2023. The current seven-day average is 1.36 million transactions per day. Notably, most transactions are small, with 96.43% valued at under $1, likely driven by automated transactions and smart contract interactions.

ALGO tokens are held, on average, for nearly 11 months, signifying substantial holder confidence. This holding period exceeds Avalanche’s 5.9 months and nearly matches Cardano’s one-year average. The network’s large holders, who control 20.7% of the total…

The post Algorand: The Sleeping Giant of Layer 1 Blockchains? Data Shows Strong Fundamentals appeared first on Coin Edition.

• Algorand has over 54,000 daily active addresses, surpassing Dogecoin and Avalanche.
• ALGO tokens are held, on average, for nearly 11 months.
• The holders increased their holdings from 19.4% since May.

Algorand stands out in the crowded Layer 1 blockchain space with its impressive performance metrics, but price action lags behind, according to IntotheBlock data.

Renowned for its high capacity, fast transaction finality, low fees, and carbon-neutral stance, Algorand boasts over 54,000 daily active addresses, surpassing networks like Dogecoin (52,000) and Avalanche (48,000), and ranks fifth in active users among leading protocols.

Transaction activity on Algorand has surged, doubling since late 2023. The current seven-day average is 1.36 million transactions per day. Notably, most transactions are small, with 96.43% valued at under $1, likely driven by automated transactions and smart contract interactions.

ALGO tokens are held, on average, for nearly 11 months, signifying substantial holder confidence. This holding period exceeds Avalanche’s 5.9 months and nearly matches Cardano’s one-year average. The network’s large holders, who control 20.7% of the total…

The post Algorand: The Sleeping Giant of Layer 1 Blockchains? Data Shows Strong Fundamentals appeared first on Coin Edition.