Algorand releases 2023 Q4 status report: market value increased by 123% month-on-month, and transaction volume increased by 58% month-on-month

Messari has released Algorand's Q4 2023 status report, showing a 123% increase in market value compared to the previous quarter. Algorand added 1.9 million new addresses in Q4 2023, representing a 72% increase compared to the previous quarter. Algorand's transaction volume increased by 58% compared to the previous quarter, driven mainly by a 43% increase in native ALGO trading volume.

In Q4, the xGov grant program continued with 18 grant applications approved by xGov participants, totaling 1.5 million ALGO (332,000 USD).

Algorand's DeFi TVL increased by 109% compared to the previous quarter, recovering from the closure of Algofi in the previous quarter and reaching the second-highest level of last year.