Algorand Achieves New Record With 2 Billion Transactions, ALGO Price Jumps 14%
Summary
Algorand's Q2 performance saw a surge in daily transactions by 104% to 4.7 million, with total transactions reaching 425 million. Revenue declined by 61% due to ALGO's depreciation and correction following a surge in Q1. However, YoY revenue increased by 1,241% to $152,000. The network reached 2 billion transactions in the quarter. ALGO staking dropped 38% YoY to 1.6 billion ALGO, with 20.2% of eligible supply staked. Stablecoin market cap on Algorand increased by 15% QoQ, with USDC accounting for 78%. ALGO's price has seen a 14% increase in the last two weeks, trading at $0.1357.
